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Ripple boss David Schwartz resigns: What does that mean for coil?
David Schwartz, CTO of Ripple, steps back; His decision raises questions about monetization of content. Discussed challenges and solutions.
Ripple boss David Schwartz resigns: What does that mean for coil?
David Schwartz, the CTO of Ripple, announced today, on October 3, 2025, that he will resign from his position. This decision was astonished not only within the company, but also in the wider XRP and crypto community. Schwartz asked users on platform X to continue working on coil, a platform that made it possible to monetize content online.
Coil used an open API called Web Monetization to stream micropayments on creative people. This technology was based on the Interledger Protocol (ILP), which, however, was already discontinued in 2023. At the request regarding his future plans, Schwartz replied that the situation was difficult. He compared the problem with the two central properties of email: a universal name room and a universal exchange protocol (SMTP).
Schwartz on Web Monetization and ILP
Schwartz explained that it would be inadequate to have only one of these properties and found that Coil had the goal of having ILP functioned as e-mail. It should offer both a universal name room and a universal protocol with guaranteed interoperability. However, he expressed concerns that a universal protocol for money with guaranteed interoperability was not practical.
Although ILP is mainly intended for the transfer of money, it must coexist with other payment methods. Ripple has also developed Paystring, a universal name room for payment points that supports various addresses and accounts. But this also offers no guarantee of interoperability. Schwartz particularly emphasized the regulatory hurdles, which represent an essential barrier for cross -system payments outside of self -custody.
These developments throw a new light on the challenges of monetization on the Internet and the future of payment technologies in the context of cryptocurrencies. Despite the hurdles, the interest in the further development of such platforms remains high, and the community will be excited about how the situation around Schwartz and Ripple will develop.