As stated in the previous articles, crypto advances could have made a number of contributions to the adult entertainment industry. In particular, the censorship that the multi-million dollar industry has suffered before banks and more conventional financial structures.
However, there are other advantages that Blockchain technology could bring to the industry, such as the possibility of reforming the internal system. Increased power, protection, and autonomy for employees in the sector, for example.
For the pornography industry, the advantageous usage of cryptocurrencies reaches beyond the intermediation of banks, and several programs seem to understand their advantages. Among the efforts of the numerous Blockchain pornographic industry projects, Intimate and SpankChain stand out. They both gained attention and received recognition from both industries.
Cryptocurrencies empower porn artists
For both, one of the advantages of the decentralization of Blockchain and cryptocurrencies is the potential to create tools to empower pornographic staff and artists.
Although most webcam entertainment sites such as Cam69 ManyVids, MyFreeCams, Chaturbate, or Stripcamfun take 30 percent to 50 percent of the artist’s earnings, SpankChain ‘s Blockchain project is barely 5 percent.
Launched a few years ago, SpankChain is an Ethereum-based chain solution that enables micropayments for webcam artists. Tips obtained via SpankChain-through their BOOTY tokens-go directly to the digital wallets of artists or performers, so there is no danger of a central authority taking control of their income.
Meanwhile, tokens of Intimate (ITM) are also building an environment for the sex industry. Through an agreement with Smile Manufacturers, industrial workers can purchase vibrators, lubricants, and other items with native tokens.
Today, Intimate works with women’s sexual education and reproductive health apps, dating sites, Japanese love hotel party, queer pornography sites. Even the platform of online “play,” Hentai Heroes.
The company is also working on a “confidence and reputation scheme” that will allow sex workers and clients to monitor past interactions. In this way, a kind of network is built between clients and actors to meet tastes, but also to provide protection for both parties. It would make it easier to know, for example, whether the client was violent or did not pay on time.
Challenges of acceptance
However, despite the fact that both businesses are positive about the advantages of Blockchain, they realize that it is not easy and that there are still many obstacles to a solid encounter between the two industries.
One of the most common issues with cryptography is security breaches and the theft of exchange networks from which these adult projects are not excluded. SpankChain endured a $40,000 hacking attack last year. Luckily for the campaign, they were able to recover the funds and get “unharmed” from the attack. In reality, misfortune has helped them to correct a major error in one of their smart contracts.
However, perhaps the least of the drawbacks are the potential technological failures of the platform. In an interview with Forbes, SpankChain CEO Ameen Soleimani clarified that after the attack, the organization actually declined to conduct a security audit “because of the optics” of the site.
Many projects in the Blockchain community continue to regulate the pornography industry, and vice versa. The most historically known corporations in the adult industry are taking time to understand the cryptographic method.
Porn industry: the perfect place to innovate
Irrespective of these inconveniences, and above the obstacles, Ameen Soleimani is convinced that “crypto adoption would happen in porn.” Similarly, the co-founder and marketing director of Intimate, Leah Callon-Butler, claims that the porn industry is the use case “strong” both were waiting for Blockchain.
In reality, the two companies share similar ventures and visions in terms of maximizing interactions inside the industry. Both Intimate and SpankChain emphasize the development of an environment for adult performers, including a website and a fully-fledged economy.
Both want to launch experimental technology to solve “true” problems in a space that has been historically consistent with digital advancements, a technology that could potentially be extended to the world in general. For example, the Intimate Reputation System will fit seamlessly into the largest rating ecosystem currently used by services such as Airbnb, Lyft and Yelp.
Soleinmi reflected on the adoption of the blockchain by the adult industry:
The great thing about the porn industry is that its representatives are going to try something.
Meanwhile, artists such as Brenna Sparks and Allie Knox are urging their business partners to opt for cryptocurrencies and open networks that offer more independence and security for their users.