Hi everyone!
We've included the GftW project reporting into our monthly analytics reports.
Here is December 2020's report. It includes progress we've made in the last month and what we're planning for January.
Thanks for reading!
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Top comments (9)
Is there a way for you to operate where you move away from XRP with Web Monetization?
Hi Chris!
Yes, in the project plan submitted to GftW we've actually got 4 weeks earmarked for investigation and implementation of additional cryptocurrency support and posting to/tipping from other blockchains like Hive.io. These were the last milestones on our roadmap and we were going to work on them after our marketing push, but now that so many exchanges have suspended trading with XRP, I think it makes sense to work on these milestones before marketing to our very-non-technical target demographics.
We wouldn't be moving away from XRP, but rather supplementing the XRP currency with other currencies that also achieve our goals for web-monetization. Hive.io and Koinos.io (for example) are both feeless 3 second blockchains that could potentially work for the gFam platform.
Hopefully no one minds this change in the order of our milestones, but very happy to have a conversation with GftW admin about it. We're currently progressing against our original project plan, but will need to make a decision to continue or change by the end of January.
Thanks for the detail. Process wise, those timeline changes do not need approval from GftW. We are supportive and curious how you will navigate this. In some ways maybe accelerating your openness to alternative currencies is smart long term.
Also really appreciate you talking on this WM Community Space about your struggles here, it really helps the movement and the community. All of us know this is years not months to get right, but the kind of openness you are demonstrating helps all of us move faster.
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. Hive.io 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.
Would the Hive.io solution still leverage WM Standard or the Interledger Protocol still?
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.
That's seems like such a hurdle getting people that are not familiar with crypto setting up wallets and such.
Thanks Nick! Of course..... we've spent a lot of time explaining to people about blockchain and cryptocurrency... and some people have jumped in and some have been too nervous and worried that it's a scam, which is fair enough... it's a very slow moving snowball, but with all the publicity that Bitcoin gets, it should help our cause.