KuCoin Highlights Blockchain Usefulness In Adult Entertainment Industry
Adult Industry Finally Finding Blockchain
Blockchain evangelists will be quick to point out that the tech can be used for literally anything. It has been revolutionizing supply-chain management, accounting, and even the betting market. Cryptocurrencies kicked off blockchain in a big way, so big in fact that all the other uses fell to the wayside. Falling to the wayside while Bitcoin was in an unprecedented bull market was fine, but everything changed after the Crypto Crash of early 2018.
People lost faith in cryptocurrencies, and other uses of blockchain began to gain popularity. Supply-chain management software, in particular, started to boom. The UNHCR started developing a blockchain driven project to help give internet access in developing countries, starting with Kyrgyzstan. So in a way, the adult industry is just following current trends by looking beyond the token and into the underlying tech itself. Where once the adult entertainment industry was considered pioneers of new trends, they are now just followers but for how long?
Porn Privacy And Anonymity
Online pornography has always had a problem with payments. No one wants others, most often their partners, to know that they are paying for pornography. This is where many in both industries see the greatest opportunity. Payment processing via blockchain and cryptocurrencies is inherently more private and secure for an individual. It takes skill and knowledge to track a user that does not give full details.
There is also a problem with trust. There are so many scam sites within the adult entertainment industry that people are rightly wary of entering their credit card details. That is, into all but the most trustworthy of websites. Even then, there is a slight pushback.
A blockchain, cryptocurrency payment system would allow for easier payment to all manner of websites. They might be amateur cam aggregator sites. They might be private websites of high profile stars. They might be the now traditional video streaming services such as Bang Bros and Brazzers. It could even be a forum for like-minded thinkers, Fetlife being one of the larger examples. It could be anything, and no one would waste a thought if they could use a secure, private method for paying for those services. The offer of trust via machine based cryptography and the privacy of the wallet system is too good to pass up.
Safety Is More Important Than Ever
One of the key concerns in the adult entertainment world is that of security. The privacy offered by crypto is already starting to be accepted by performers on various cam sites. They put their wallet address and accept payments.
However, there is one side of the adult industry that needs the security aspect of blockchain and cryptocurrency even more than porn. It is the adult dating industry. This segment of both the dating and the adult entertainment industry is rife with identity scams. Trust in the system has stopped it from becoming as popular as ti once promised to be. Tinder has ridden the line between dating and hook up app finely, but many people are not happy with it. The other options are, sadly, simply not good enough around the world.
That's not to say that the other options do not exist, or are bad from a technical user experience angle. Far from it, the underlying technology behind those websites is what Tinder is based on after all. It is the verifications that are the problem. No one can be sure they are talking to the person in the picture. Tinder has solved this by using Facebook authentication and AI photo verification. Websites that do not have the mind-share of Tinder struggle to induce people to let them use Facebook verification.
Having a blockchain based verification system that keeps the user's details safe would be a complete game-changer. There is mainstream acceptance of the security of blockchain based services, so long as you are careful. Yes, there are large hacks. However, most people would prefer that an anonymous machine using cryptography checks their identities than another person.
Adoption Increasing Could Be Set For A Boom
Now that the adult industry has woken up and started getting invested in cryptocurrency, things are set to boom. Porn sites were the first successful commercial websites. They led the way with payment platforms, thumbnails, and many other firsts. In fact, many features on Youtube were pioneered by Pornhub and its competitors.
If the adult industry can bring that kind of change and acceptance to the larger population, then the crypto industry is in for a boom that will make the expansion of the internet from the mid-90s to the mid-2000s seem like a slow walk.