In the early ’90s, an intangible place called the internet offered a host of entertainment opportunities for then-unidentified segmented audiences. A matrix of ones and zeroes dripping through wires suggested an unknown possibility. However, one industry had a more controversial advantage over email and faxed documents: pornography.
A Match Made in Crypto Heaven?
Like it or not, the porn industry is a major driving force behind the internet. Many can refer to the success of their careers to the illuminated screen and keyboard; and just as kinks evolve, so does technology. This makes PumaPay and porn a match made in cryptocurrency heaven. On Aug. 23, the online adult entertainment giant Pornhub announced it will now utilize blockchain-based payment facilitated by PumaPay tokens (PMA).
Pornhub hosts more than 90 million visitors daily, making it one of the most-viewed websites in the world. So those technological advancements mentioned earlier suddenly make sense: high-definition, on-demand streaming; real-time, point-of-view experiences; and interactive advertisements. Why stop there?
Logically, a new form of payment that increases security, flexibility and anonymity would be the next step from a successful business standpoint. For subscribers, that can also mean no more embarrassing phone calls to cancel those recurring bills for intimate pastimes.
Corey Price, VP of Pornhub, stresses the importance of anonymity in his field of work, which is why PMA is a preferable addition to the site’s other cryptocurrencies.
The payment protocol was developed by Cyprus-based blockchain company Decentralized Vision for the purpose of filling a gap between billing needs and current existing solutions, i.e. credit cards.
PumaPay CEO Yoav Dror says the solution is PullPayment protocol, a method that reverses the mechanics of a transaction and enables merchants to “pull” crypto funds from a client’s account. Using this method bypasses issues that would be impossible to avoid without blockchain, such as high transaction costs, insecurity chargebacks and concurrent fines.
Decentralization is key. Operations control within companies is a cumbersome task and is a step that can be bypassed by blockchain. For example, centralized processing involves tracking all invoices for every location of a company by either one team or person, typically at headquarters.
For a company like Pornhub, which operates globally, inconsistencies in tracking these invoices become a likely challenge. Decentralization, therefore, offers an opportunity for individual departments to work independently, resulting in the ever-elusive anonymity secure transactions.
According to Price:
“As decentralized payment systems continue to grow in popularity, cryptocurrencies are especially viable in the adult entertainment industry because they incorporate more anonymity tools than traditional tender. PMA is a solid addition to our growing arsenal of cryptocurrencies, and we’re excited for our fans to use them to purchase a myriad of things on our platform.”
For Pornhub’s 10 million consistent members, cryptocurrency may prove just as popular as the 5 million videos available on the site, and PumaPay is on track to make free site’s sophisticated social experience easier than before.
The post Pornhub Adopts PumaPay Protocol for Crypto Payments appeared first on CryptoSlate.
Source: CryptoSlate
Original Post: Pornhub Adopts PumaPay Protocol for Crypto Payments
