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XVG Verge and Pornhub Marriage Not Going Well

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XVG Verge

Back in early April, the team at XVG Verge had a well-kept secret as to which firm was their new big partner. As soon as the announcement was made that Pornhub would be accepting subscription payments using XVG, the crypto community rejoiced for this was a step forward in terms of crypto adoption. Some crypto enthusiasts even put aside their morals and looked past what the Pornhub platform is all about. All were enthusiastic for they knew that the porn industry is worth around $97 Billion dollars and Pornhub has over 90 Million daily unique visitors. This, in turn, meant that XVG Verge would get the spotlight on a wide and busy platform.

Crypto accounts for Less than 1% of Pornhub Payments

Almost six months after Pornhub started accepting XVG Verge and other cryptocurrencies on the site, a new report has revealed that less than 1% of payments on the site are actually transacted using digital assets. This is even after Pornhub partnered with crypto payment processing startup of PumaPay to make the user experience more efficient.

Still Too Early to Conclude ‘The Marriage’ Between XVG Verge and Pornhub has Failed

Six months is a short time period to determine if crypto payments have failed to take off on the adult site. Judging by the fact that Bitcoin was created in 2009 and it has only started to be recognized as a means of investing, it could take a few more years before crypto payments are as natural and automatic as using your VISA or Mastercard.

A spokesperson of Pornhub remained optimistic about the future:

That being said, we expect to see widespread adoption of crypto[currency] and blockchain on our site in the near future

Possible Solutions for the Adult Industry

One possible implementation of blockchain technology in the adult film industry is probably tapping Project Atlas from the team at Tron and BitTorrent. The project aims at incentivizing users using a custom token so you can request faster downloads as well as have users run clients to seed torrents for longer periods.

With adult movies and clips being created by the minute, the burden of centrally storing all these files will become cumbersome for Pornhub and other adult sites. This then brings the option of distributing storage on the machines of subscribers who will be rewarded with a certain amount of privileges or tokens, for the platform to store some files onto their personal computers or servers that will remain online all the time.

Of course, this is pure speculation but we have to remember that behind any brilliant invention, is a crazy idea. The above idea seems crazy enough to work.

In conclusion, crypto adoption is slowly but surely making strides in the adult film industry through the use of digital assets as a means to pay for subscriptions as can be seen on Pornhub. As the future progresses, cryptocurrencies and blockchain technology will surely make an impact on the industry. We also have to remind ourselves that the payment processor of PumaPay is still in the development phase and the project is yet to integrate on Pornhub. Once live, PumaPay is sure to accelerate crypto payment and billing all over the crypto-verse.

Check out the Global Coin Report talk show as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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