SpankChain – What's An Adult Industry Blockchain Project Look Like?

About SpankChain

There has always been a particular association between cryptocurrency, blockchain, and the adult entertainment industry. Various adult sites accept Bitcoin payments these days, only because it creates a whole lot of sense. SpankChain is looking to combine this business with a blockchain-based infrastructure. Now's a good time to take a closer look at what the future may hold for this specific project.

There is not any particular industry which won't gain from blockchain technology later on. Most of these efforts focus on the financial industry right now, even though there are other business models worth exploring too. SpankChain demonstrates the way the grownup entertainment industry is in desperate need of a technological update. Bringing the blockchain for this specific business will not be straightforward by any means. In the end, there'll be a lot of folks who'll laugh at this thought, even though it leaves a great deal of sense to the people actively considering such a change.

The most important intention of SpankChain would be to reevaluate the adult industry utilizing blockchain technology. More specifically, the team aims to build a blockchain-based economical and technological infrastructure built on top of Ethereum. They will do so using smart contracts, taking away the need for third party intermediaries altogether. Furthermore, there will be a strong focus on removing unfair payment methods while still providing security and privacy options.

Impact of SpankChain

With SpankChain, the entire adult entertainment industry can benefit from lower prices, anonymity, zero chargeback risk, and secure solutions. The danger of chargebacks has been especially worrisome in this industry, although it's something which is debatable in virtually any sector which deals with frequent payments. Cryptocurrency and blockchain technology are great solutions in this respect, as they do not allow for chargeback methods which may be abused by consumers or criminals.

Furthermore, this brand new blockchain will allow for the development of dedicated decentralized software. It will become a lot simpler to create content delivery networks in this manner. There's also a decentralized market option to explore, and many payment hubs to benefit from. It sounds like a significant job that might actually work out in the long run, assuming there are enough players at the adult entertainment industry keen to experiment with this technology.

Layers of the SpankChain System

Under the hood, you will find 3 different layers that together make up SpankChain. The top layer is the application layer, which sits along with their services layer comprising payment hubs, among other items. Last but not least, there is the SpankChain Core, which incorporates P2P micropayments, performer profiles, and a whole lot more. All things considered, this makes for a fairly interesting project which will surely benefit the adult entertainment industry moving ahead.

It is not the first time we've seen jobs undertake the adult entertainment industry either. Typically, previous attempts have fallen short, mainly because they only tried to make a new payment tool for the adult sector. With a blockchain-based ecosystem setup, however, SpankChain should become a lot more popular. Only time will tell how this endeavor plays out in the long term, as there's not any assurance of success whatsoever.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Is It Time for Chainlink (LINK) to Retract or Is There Still A Lot to Fuel This Fire

The 12th largest cryptocurrency by market cap has been hitting new all-time highs almost every day this week. The new peak is $6.53, and...

89% of Hodlers Are Worried About Their Crypto, But Only 23% Have A Plan For After Death: Report

An online research report by "after-life" investment experts firm, Cremation Institute, found out nearly 90% of cryptocurrency investors worry about losing their funds...

Real Risk: Circle-Coinbase Consortium Blacklists Ethereum Address Holding $100k Worth of USDC

The CENTRE consortium formed by Circle and Coinbase has blacklisted an Ethereum address holding $100k worth of USDC stablecoin. The transaction on Etherscan shows that...

Brazilians Are Moving Towards Dollar-Pegged Stablecoins As Alternatives to the Ailing Economy

Brazil is moving to dollar-backed stablecoins as the country's economy continues to ail coupled with the looming uncertainty on its increasing COVID-19 cases. According...

Bitcoin Moves: Options Market Indicate Bullish Price Outlook

This week, bitcoin is making its way upwards, albeit at an extremely slow pace. Yesterday, we went to nearly $9,500 but are currently trading...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today