Blockchain technology was revolutionary when it was first introduced in 2008 as part of a new digital currency called Bitcoin. Over the past decade, blockchain has provided systems with increased technology, speed and efficiency due to its decentralized nature. Even as cryptocurrency prices have hit historic lows in the past couple of months, several industries are keen on adopting blockchain into their systems.
The adult industry, which is known for being among the first sectors to adopt new technologies, could benefit a great deal from blockchain’s decentralized nature. Estimated to be worth billions of dollars, the adult industry could leverage blockchain’s capabilities to create safe and inclusive adult platforms. Because of its history as an early adopter of new technology, the adult industry presents a major growth opportunity for blockchain.
The sector evolved with the times, transitioning from VHS and Blu-ray to the internet as the technology evolved. Furthermore, it was among the first industries to earn big bucks on the internet, and it continues to earn more than $1 billion per year through internet streaming. As online transactions and the web itself become more decentralized (Web 3), it is only natural that an industry that has been at the forefront of technology adoption will adopt blockchain as well.
Even though the adult industry is in an era where performers own the content they create, they often lack convenient methods of receiving payment. This forces them to depend on traditional banking solutions that are synonymous with high fees, chargebacks, payment cancellations and account closures. These payments also provide little privacy for the consumers buying adult content.
Cryptocurrencies have the potential to solve these issues by removing the middleman and allowing creators and clients to carry out financial transactions directly. Furthermore, the increased privacy associated with cryptos will allow users to keep their identities hidden, alleviating the privacy concerns associated with purchasing adult content.
Established adult sites have already seen how they could benefit from blockchain, and some of them have even incorporated cryptocurrencies such as Bitcoin into their payment systems. Newer sites have taken it a step further and created entire online ecosystems powered by blockchain to make the fan experience even better.
The Pleasure Network, for instance, has released a number of inclusive and safe adult platforms that are powered by NSFW, the Pleasure Coin utility token. This token allows creators to receive payments without any risk of chargebacks. It will also be used in Pleasureland, an incoming metaverse that will be the world’s first adult metaverse.
With entities such as Tingo Inc. (OTC: TMNA) also working to deepen the reach of blockchain in various sectors, a time may come when this technology is present in every aspect of human life.
NOTE TO INVESTORS: The latest news and updates relating to Tingo Inc. (OTC: TMNA) are available in the company’s newsroom at http://ibn.fm/TMNA
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