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Discussion on: Monthly Report for gFam

gfam profile image
gFam Author

Thanks Chris! Really appreciate the support!

I actually spoke to the Koinos CEO this morning about how they might/should create smart contracts that can produce a micropayment scenario for time spent on creator's work... they think it's possible, but they wouldn't be able to look into themselves for a year. definitely suits the more immediate needs of gFam and has a built in community that is very familiar with being rewarded for their content.

We're really happy to talk openly about all of this... web-monetization can truly solve so many of the world's current issues and we're not only excited to have found this space, but am so incredibly impressed that GftW doesn't restrict us to only using XRP solutions. That's pretty amazing in itself.

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chrislarry profile image
Chris Lawrence

Would the solution still leverage WM Standard or the Interledger Protocol still?

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gfam profile image
gFam Author

No, not at all.

As far as I know, Coil is still the only technology I know of that can provide actual Web Monetization Standard micropayments.

Without being super technical, I think an open-source developer could possibly develop a WM Standard mechanism using the Hive blockchain but I don't know of anyone building anything like that at the moment.

The Hive blockchain is able to exist without fees and without advertising because it creates Hive tokens every day, and distributes these tokens to the witnesses (ie, validators/block producers), the investors, the builders and the content creators. The content creators are rewarded with their Hive tokens based on the upvotes of the content they produce.

gFam communicates both active and passive payments for it's creators. The active are the tips, where a consumer wants to reward/motivate/encourage a creator by tipping them... and the passive is the web monetization Coil technology that currently allows consumers to pay creators for time spent on their content.

What gFam could do is link to the Hive blockchain so that gFam users with a Hive account would post to both gFam and the blockchain. gFam could then upvote posts based on views (or maybe even time spent). This could produce an overall similar result to Coil's micropayments for the creators and provide further options for passive payments.

The active payments of Hive would be a lot easier to implement on gFam because it would just be a matter of posting the value exchange transaction to the Hive blockchain (using the open-source APIs found here and have it settled within 3 seconds. That would be our first step.