One of the biggest problems right now in social networks and websites is the employment of ads. Even though it allows to offer the user a “free” experience, and at the same time still monetize the content; it, however, results very disturbingly for the customer, almost always.
The dilemma appears when there’s actually not an alternative option to surpass this issue, as so far the only way to monetize the web content is by running ads. So what can the industry do?
Well, as shocking as it may look the blockchain may be the answer one more time. Recently, the famous news portal for IT based in the UK, The Register, decided to explore the world of crypto by implementing a cutting-edge system where no ads are shown to the customer, and instead, a crypto-related platform is used to collect revenue for the content published. Let’s see how it goes!
A solution dubbed Satoshipay
On May 22, the technology news portal published on its website the announcement of an ads-free edition of their popular history travelogue series dubbed Geek’s Guide to Britain ebook. The Register established that not only it was going to be ad-free; it would also integrate the use of a payment platform crypto-related in which the users would be able to purchase utilizing tokens.
Regarding this, they said:
“you can buy our ebook for just pennies on the pound – or, rather, micropayments – as The Register is making Geek’s Guide to Britain available for sale using the Stellar Lumens cryptocurrency, through a pilot with payment partner SatoshiPay.”
It was known that the 26-part book that treats subjects such as the most relevant attractions of technology and engineering history in the UK, would be available for users to purchase in a full version or even just to access individually to the chapters it contains.
This news has definitely created a huge wave among the sector because even when the concept of micropayment for the online publishing industry is not new, utilizing a platform that somehow reduces the costs constraints issues giving the use of Satoshipay a groundbreaking approach.
If we talk about costs, Satoshipay definitely stays ahead of other payment methods such as credit cards or Paypal. Transacting in the platform generates almost no cost; a fact that even include micropayments, and if we compare that to the 1.5% charge of credit cards or the charge of even 3.4% of Paypal, this solution definitely has everything to gain.
Satoshipay is powered by the Stellar Network, the platform responsible for the Stellar Lumen (XLM), a coin currently ranked as the number 8 at coinmarketcap.com.
Stellar (XLM) has been giving substantial steps these days, and this partnership with The Register indeed takes it in the same direction. Regarding this, Jed McCaleb, co-founder of Stellar (XLM) stated that this alliance would help the token to reach new places as “it represents one of the first mainstream uses of blockchain payments in reaching millions of consumers.” He said they are proud and hope nothing but solid growth in the coming days.
For its part, the managing editor of the Register, Gavin Clarke, stated that this represents for sure a solution to the dilemma the web publishing industry has been dealing with,
“readers who don’t want invasive ads and publishers who want to monetize their content”.