Ripple: CTO Stefan Thomas resigns and announces Coil!

Stefan Thomas steps down as CTO at Ripple. He now wants to turn to a new project called Coil, which also works with the XRP token. The Coil platform is primarily designed to support microtransactions.

Stefan Thomas worked with Evan Schwartz to develop the protocol for interledger payments. With the Interledger Payments Protocol, the two inventors provided the technical foundation for payment systems that can transact between different ledgers. Now Stefan Thomas finished his work as CTO at Ripple after nearly six years of cooperation. However, with his new start-up coil, he wants to remain true to his protocol – so Interledger should also be used at Coil.

This news was shared by Thomas on May 14 on the medium platform. With his new project, he wants to make it possible for people who create content to be paid for via microtransactions. Self-marketing is the order of things here: instead of generating income by clicking on advertising, Coil should be able to market its contents on its own.

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Stefan Thomas wants to create a network that provides a platform for curators and services as well as the creation of content and users alike:

“Since joining Bitcoin Community in 2010 and later Ripple in 2012, my ambition has been to create a world where currencies can flow as smoothly as information. However, every day I notice that it is not enough to just lay the foundation for it. There are complete industries that could advance this technology. The key is to inspire people by showing them what technology can do. “

He wants to accomplish a move away from the “ad-model” to the open-protocol model. According to Thomas in his post, with Ripple’s experience, he and his team are able to make trillions of transactions per second – without central authority.

Rpple price is currently 0.61 Euro. While it was able to grow on a monthly average by nine percent, he recorded a weekly loss of 11.8 percent. On a 24-hour average, Ripple price is up nearly 3 percent. It has a total market capitalization of € 24.4 billion.

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