What is the Coil, which the Ripple investment agency gave a billion XRP’s aid?

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On 15 August 2019, Ripple’s investment institution Xpring grants 1 billion Ripple (XRP) to Coil, a project aimed at monetizing creator content Announced on the official account on Medium.

Coil’s official Twitter account also recognizes grants from Xpring, which accelerates efforts to level creators’ creation by providing better ways to support content across the web.

One billion XRP will be used through open web monetization standards to provide utilities and liquidity to the ecosystem of creators, developers, companies and non-profit organizations using XRP.

Outline of Coil
Coil aims to provide a revenue function to content creators that replace paid advertising. Subscribers have unlimited access to limited content for $ 5 / month. Creators don’t have to pay to post content.

The coil is included in Google Chrome and Firefox extensions, so you don’t need to install special software or apps. Registration requires a name, email address, etc., but the visited content cannot be confirmed.

Coil’s CEO and Founder, Stefan Thomas, is Ripple’s former Chief Technology Officer (CTO) and is an international standard provided by Ripple. The developer of the Interledger Protocol (ILP). The coil has also incorporated ILP to make regular XRP payments.

Xpring investment standards and previous investments
Xpring contributes to, invests It is affiliated.

In the past, Agoric aims to establish a secure and secure smart contract, Bolt Labs, which aims to conduct transactions immediately and privately regardless of currency, Blockchain technology The company has invested in more than 10 companies, including Forte, which is creating a platform that applies to the game economy, and Kavalabos, a decentralized financial platform that is working to integrate blockchain and ILP.