Porn Industry

Cryptocurrency in Porn Industry

By circuitops | The Crypto News | 19 Jan 2020


"The future is Cumming!"

Porn industry (also called the adult entertainment industry) has a reputation as the front runners to adopt the latest and upcoming technology. Some of these technologies are online streaming, virtual reality (VR), online payment, they also have different platforms, closed captioning, and surprisingly cryptocurrency.

 

But why Cryptocurrency?

Most online payment features such as PayPal, wire transfer or check, credit or debit, and even the financial institution (Banks) are now backing out and no longer serving the adult entertainment industry. Most of their models are also deemed illegal and denied bank accounts. As a result, a hundred thousand performers who rely on this type of livelihood are now affected and their hard-earned money is now on hold.

Because of these reasons, top adult entertainment companies are now switching their gears entirely and now accepting cryptocurrencies since 2017. Xhamster(TM) started accepting Bitcoins and now a verified publisher of brave - and now accepting Basic Attention Token tips and contribution. Naughty America(TM) also started accepting Bitcoins. PornHub(TM) and its sister sites are also accepting Bitcoins and have a partnership with Horizon, Tron, and Verge.

[Other adult website are also accepting cryptocurrencies but there are too many to mention]

And after this transition, entrepreneurs from the adult entertainment industry and crypto developers are now innovating and developing their own cryptocurrency which results in the creation of Origo Coin, Spank Token, Vice Industry Token, and WankCoin. The purpose of these cryptocurrencies is to dominate the crypto payment transaction and its market, to be used by their consumers to support (buy) their product or service, anonymous and protection of their customers, and to be the main cryptocurrency for their industry.

 

The Problem of this Implementation?

Not all consumers are familiar with cryptocurrency (especially the old ones). Practically,  they prefer the old online transaction by using their cards or PayPal to command (command a model to do something - you know) and buy some stuff online. 

Performers and models are also confused with these cryptos and stuff. They prefer direct deposit to their bank accounts.

Consumers will also have a hard time converting their real-world money to an establish cryptocurrency which the site requires.

Cryptocurrency price fluctuation will also take effect since the adult industry can’t control the complex price changes and supply and demand.

 

My Point of View - POV ;)

Cryptocurrency fever is spreading. I'm not surprised why they adapt these kinds of technology. But it will take some time for the consumers to fully accept this kind of implementation. But one thing for sure, They are Cumming! HAHAHA

How do you rate this article?


3

0

circuitops
circuitops

All lives matter except for entitled people.


The Crypto News
The Crypto News

Learn the latest news about cryptocurrency and its leading-edge technology.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.