TheMerkle.com by Shiraz Jagati
Since the mid-2000’s, the sex industry has turned into one of the most profitable markets in the world. To put things into perspective, the porn industry currently rakes in a staggering US$97 billion annually, which is more money than the MLB, NBA, and NFL combined.
Also, with the advent of the blockchain, the sex industry is now experiencing a makeover with many content creators now favoring a decentralized business model to distribute their videos, films, pictures, etc.
PROBLEMS FACED BY THE ADULT INDUSTRY
With there being so much free pornography available on the internet today, it is very difficult for many adult content providers to earn money for their creations. In addition, the issue of piracy is heavily prevalent within this domain, as most adult material tends to get duplicated and make the rounds on various websites quite quickly.
Despite the massive surge in popularity that the blockchain has experienced in the past couple of years, there has been relatively low interest in developing crypto technologies that cater specifically to the adult content consumer market.
However, in 2017, there were more than a dozen coin offerings that were aimed directly at this segment. These platforms are designed to promote high-quality content access using cryptocurrencies, thereby eliminating issues of piracy, unfair revenue distribution, duplicated content and so on.
HOW CAN BLOCKCHAIN BENEFIT THE ADULT MARKET?
- Faster Payments: when using blockchain platforms, it is much easier to make payments for audio/visual content. Since everything is governed by smart contracts, alt-assets make content distribution highly efficient.
- Streamlined Access: crypto technology provides users with a surefire avenue for uninterrupted content access without having to rely on preexisting hosting services.
- Safety: as you may know, credit card theft is extremely common when using adult websites. Thus, by implementing blockchain technology within the online adult market, users can be sure that they are paying the correct amount of money at all times. Also, since all contracts are well-defined in advance, no hidden costs are incurred at a later stage.
- Better Content Delivery: the online sex market is full of duplicated content which makes it hard to find new material. However, with blockchain technology, it will become harder to steal content from websites since only users who have purchased the required number of tokens are granted access to a particular audio/video file. …more…