Ripple CTO, David Schwartz recently announced that the most popular virtual encyclopedia in the world, Wikipedia is planning to accept donations in Ripple’s XRP via using Coil. The official message was passed via personal Twitter account of the CTO, which also generally clarified how the system will be working.
Schwartz’s original message on Twitter stated: “watching the adoption of Coil is exciting. Even without a partnership, they are testing their web monetization flat rate product out on Wikipedia with XRP. After Coil users visit the site, Coil makes a donation to Wikipedia”.
Coil was created by Stefan Thomas, who formerly was the Chief Technology Officer of Ripple. According to the official information on the company’s page, Coil aims at promoting Ad free web sites and creating new monetization ways for them. The company reportedly uses Interledger protocol in order to monetize online content.
As known, Wikipedia is entirely dependent on donations as the leading website does not run ads on the platform. This means that choosing a new blockchain-based method to accept donations from the users is a very important decision for the platform which will also have significant influence on the chosen cryptocurrency considering huge audience of the website.
Currently Wikipedia is testing XRP as “the platform is looking for new monetization methods and Ripple has come out as one of the leading ones”. Due to a new partnership with Coil, the platform will be able to support its content creators. “Coil allows users to donate and contribute small amounts of cryptocurrency to content creators”, states the source.
At the same time, the sides have confirmed that an official partnership between Ripple and Wikipedia is still to be confirmed. According to the source, this will become clear in case after testing period Wikipedia confirms that XRP can be a viable option for the platform.