SpankChain
A new blockchain company called SpankChain wants to become the go-to payment platform for internet porn with its new service, “SpankPay.”
If SpankPay takes off, it would let porn companies, adult entertainers, and perhaps sex workers accept payments of cryptocurrencies like Bitcoin, ether, and monero, according to CoinDesk. It’s easy to joke about putting miscellaneous new industries on the blockchain. But in this case, a crypto option could help adult entertainers make a living despite hostile governments and more conventional payment platforms.
Skimming The Top
SpankPay will take a 0.5 percent cut of each crypto payment made on its platform, which is several times less than what a credit card company would collect, CoinDesk reports.
The crypto payment service has a few partners already, according to CoinDesk, like the webcam service SkyPRivate and an adult site called JustFor.Fans.
“With SpankPay, we are bringing immediate value to adult merchants by helping them accept crypto, avoid chargebacks, and reach a global audience,” SpankChain CEO Ameen Soleimani told CoinDesk.
READ MORE: SpankChain Launches Crypto Payments Service for Adult Content Providers [CoinDesk]
More on porn crypto: The World’s Biggest Porn Company Now Accepts a Cryptocurrency