Sex businesses find willing partners in cryptos - adult sex toys online
by:KISSTOY
2019-08-28
NEW YORK: Sex-
Toy entrepreneur Polly rodgez is tired of the funny look the banker gave her.
Her online store, unbound, sells candy-
Accessories such as color vibrator, bracelet handcuffs for women.
Rod rigz said that although she sold her inventory, it was difficult for her to find a bank to provide her with a small loanbusiness loan.
She sees this as a sexual panic in the financial industry.
Now she sees a glimmer of hope in digital currency.
"When you are labeled as an adult company, you are effectively blacklisted," said Rod rigz . ".
"When you put it in the code and take out subjective moral judgment, it's a change.
Bank and Credit
Card companies can be hidden when it comes to adult businesses, which can be big money makers.
According to London, sex-only toys sell more than $20 a year around the world, and sales are expected to reach nearly $30 by 2020. based market-
Technavio, a research firm.
Nevertheless, financial companies still believe that sex
Toy sellers are at great risk and they are mixed up with businesses such as escort services and porn sites that sometimes flirt with violations. Credit-
Credit card companies are also cautious about refunds, which can happen when cardholders claim that the transaction is fraudulent.
For example, a man accused him of porn
Looking at his card, when his wife found the payment, he denied that he was doing it and left the card company to eat the money.
Some adult companies cheered the expansion of digital money, including Bitcoin and Ethereum, and the rise of digital money.
This can help them avoid suspicious intermediaries and allow customers to pay directly.
Harvey Closs, production director of BaDoink VRreality porn-
The production company said that tokens show great potential in the adult industry, because tokens are anonymous and are a direct way of accepting payments.
The problem, he said, is "there is nothing to prepare in prime time for practical commercial use.
"The transaction costs are still too high, and the infrastructure that has been hacked and frozen must be improved first.
This is not due to lack of attempts.
Digital housing industry-
Payment mechanism of sex
Key businesses are on the rise.
An early participant, SpankChain, is building a payment ecosystem based on the Ethereum blockchain.
In a white paper written by "Spanktoshi nakatety ---
Refer to the name of Nakamoto, anonymous creator of bitcoin-
SpankChain explains how to use a token as a payment tool for a webcam.
According to the nakagenty white paper, the virtual payment arrangement will be different by charging 5% of the performer's income, while traditional cam services charge between 30% and 50%.
Such tokens will revolutionize the webcam, allowing performers to watch live shows while users reward them with virtual cues. Payment-
Processing costs currently consume a lot of their revenue.
This year, Ameen solimani, chief executive of SpankChain, said that SpankChain will promote its web-camera website as a demonstration project.
Porn actress Gisele Palmer is on the scene for the first time.
Cam show on New Year's Day.
Another coin for adults
The entertainment industry, known as "intimacy", is designed to cater to the webcam business, but it also extends to businesses including sex.
Short term toy retailer
Check in hotel and escort service in legal country.
Intimate founder Reuben Copa spread the news at a cryptocurrency conference in New York in November about intimate first-time coin releases. Coppa wore a T-
A shirt with a company logo, similar to a stylized thong.
Coppa is an Australian who talks a mile a minute, from ICO talk to other projects that will be carried out with the payment mechanism.
The company is developing a blockchain called "close reputation --
Enable the rating system, allowing accompanying staff to learn more about customers before meeting them in person.
"Now, what they rely on is the tone of the phone and the text message," Coppa said to determine whether the interaction with the customer is safe.
"They can make behavior better by applying ratings from Uber or Airbnb.
"Companies like SpankChain and Intimate face a hard climb in which regulators have become skeptical about ICOs.
S. Securities and Exchange Commission warned investors last year that they could be hotbeds of fraud and created a network unit that would focus in part on violations.
According to analysts at New York Autonomous Research Co. Ltd. , the division was founded when ICOs made more than $2 in the capital market last year.
The company also bet that users will eventually feel comfortable paying in virtual currency.
Combination of sex and password
Payment is not possible without traditional bankers being picky about sex business.
Once banks see how much money they will lose to virtual banks, their objections may change --
Sex, money companies
Rod Ritz, a toy seller
If cryptocurrency and digital tokens are widely used in the adult industry, she says, "then I don't have to spend that much time worrying, will my bank account be closed?
Because we don't want to talk about sexual health and health in a healthy and good way, we end up putting the industry under the shadow.
This is not good for anyone.