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The Web 2.0 business model is broken.
- ads
- no privacy
- middlemen taking 70% of profits from content creators
A thread how blockchain can help:
- ads
- no privacy
- middlemen taking 70% of profits from content creators
A thread how blockchain can help:
2/n
Long story short: p2p payments and Web Monetization.
Streaming micro-payments from consumers DIRECTLY to the content creators.
How? Thanks to @Interledger protocol providing a simple, ledger-agnostic, and currency-agnostic money transfer method.
Long story short: p2p payments and Web Monetization.
Streaming micro-payments from consumers DIRECTLY to the content creators.
How? Thanks to @Interledger protocol providing a simple, ledger-agnostic, and currency-agnostic money transfer method.
3/n
What are the advantages of p2p payment streams?
- one budget for all your subscriptions
- real-time salary - the content creator is receiving money simultaneously as her/his readers consume the content
- no hidden fees
- decentralized protocol
- no content firewalls
What are the advantages of p2p payment streams?
- one budget for all your subscriptions
- real-time salary - the content creator is receiving money simultaneously as her/his readers consume the content
- no hidden fees
- decentralized protocol
- no content firewalls
4/n
What are the cons?
Techy UX + The payments are streamed in small quantities. For the idea to work, a sufficient amount of users have to set up the Web Monetization Browser Extension to provide liquidity.
"You received 0.002295 XRP from Interledger Network."
What are the cons?
Techy UX + The payments are streamed in small quantities. For the idea to work, a sufficient amount of users have to set up the Web Monetization Browser Extension to provide liquidity.
"You received 0.002295 XRP from Interledger Network."
6/n
From the technical and high level payment flow perspective:
From the technical and high level payment flow perspective:
7/n
In day-to-day flow it looks like this:
1) You start a 5$ @Coil subscription
2) Install a browser extension
3) Ext detects a platform or an individual creator's blog, it will start streaming micro-payments to it according to the previous diagram
Example on @ThePracticalDev
In day-to-day flow it looks like this:
1) You start a 5$ @Coil subscription
2) Install a browser extension
3) Ext detects a platform or an individual creator's blog, it will start streaming micro-payments to it according to the previous diagram
Example on @ThePracticalDev
8/8
Sounds intriguing?
Check out the freshly published tutorial on how to support other content creators on web and how to monetize your own website:
https://dev.to/web3coach/stream-micro-payments-to-your-favorite-content-creators-29nj
#blockchain #xrp #web3
Sounds intriguing?
Check out the freshly published tutorial on how to support other content creators on web and how to monetize your own website:
https://dev.to/web3coach/stream-micro-payments-to-your-favorite-content-creators-29nj
#blockchain #xrp #web3
