Porn blockchain

Adult Entertainment Embraces Porn Blockchain

How might porn blockchain change the adult industry? Porn star Janice Griffith says in the Medium blogpost lat month, the adult world is a magical sector, it has politics and rules of it’s own creation, however it still falls victim to the struggle that the real world encounters. She is best known for scenes such as “I Have a Wife” and “Squirt in My Face”, and she is referring to sexism and discrimination that adult performers deal with on a daily basis.

Porn blockchain

Webcam girls talk with viewers during the annual ‘AdultCon' Adult Entertainment Convention. (Credit: MARK RALSTON/AFP/Getty Images)

Porn star also face another unique challenge, that is, not being able to spend their money on business related services. Due to the public morality polarity views, cannabis and porn fall under the same umbrella, where banks frequently refuse doing business with them. This means that they become cash operation or is force to pay a heavy fee to use premium banking service. It’s a shame that the public sees her naked online and perceives her ass “dirty”. However, camming and porn are very visible sect of sex work that count on advertising and consumption in manners that traditional type of sex works do not require.

Porn Blockchain service, SpankChain, see the business opportunity to step in and rescue Griffith who is simply needing to be able to pay for ads, etc. SpankChain’s payment channel is the key to near-term cryptocurrency adoption, and the porn industry is a perfect testing ground for designing parallel economies that decentralize the banking system’s inefficiencies.

Creator is SpankChain, Spanktoshi Nakabooty is excited that they are at the forefront disrupting the industry by an immediate goal, that is, charging only a 5% fee instead of the 50% industry standard and become the dominant cryptocurrency payment platform for the adult industry.”

However, it will not be easy at first to get performers to switch platform, as cam site operator usually have established their revenue payment model. The company is counting on the numerous models who would rather start their own camsite if a simple solution for video streaming and payment is provided.

This is not the first incident that cryptocurrency world tapped into the adult industry. Companies such as Tit Coin and SexCoin all aiming to disrupt the adult entertainment industry.

Most of these early pioneers have had moderate success, but it appears that SpankChain is aiming to get performers on board to promote the service so they could gain traction.

“I haven’t seen many compelling reasons to use any of the current adult-specific ICOs. The idea of cryptocurrency is definitely an attractive and logical quick jump- but it’s one that the general public hasn’t caught up to yet. As cryptocurrency gets more popular, I could see various ICOs becoming more accountable to their users — there is a big problem across the board with follow through from various ICOs —- and in turn becoming more useful in general to the adult market” says Lily Campbell, a porn producer and director at adult entertainment site Yanks.com.

SpankChain and the associated Spank Coin, a ERC-20 token on the Ethereal blockchain is ready to be unveiled. Their initial coin offering was schedule on October 31st, with the goal being to raise their initial round through token sales and funding their long-term goals to build their own camsite operation. They also looking to include Ehtereum Webcam hardware which includes a build-in wallet, where VR adult apps and matchmaking service which matches couple based on their porn preference.

Nakabooty writes “It’s our goal to make entrepreneurship within the adult entertainment so affordable and so easy that any individual entertainer can find a profitable home and audience for their content. This is the first step on a long road of developing an entire ecosystem of interoperable services that will drive down the cost of launching and operating adult entertainment businesses, while also improving autonomy for performers.”

Many adult sites such as Brazzers.com is now accepting cryptocurrency payments, and porn performers can benefit by the the extra margin. As of now, most clips site will allow performers to earn anywhere from 25~60% of the actual money earns. However, SpankChain is going to change that because it essentially decentralized the systems and establishes payment structure that are much more reasonable.