SpankChain CEO believes that the porn industry will strongly drive crypto usage


The cryptocurrency panel at this year’s XBIZ event (the adult-industry Golden Globes to AVN’s Oscars) was held in West Hollywood recently.

SpankChain CEO Ameen Soleimani was at the event and had a few jokes to bring along as well.

“The great thing about adult is they’ll try anything,” he says about blockchain adoption in the adult industry, to the audience’s amusement. He also added “It’s a play on the perception that adult performers are willing to experiment on camera, but it also acknowledges the industry’s readiness to test out new technologies, often before more mainstream industries catch up.”

Intimate.io, who also particpated at the event, has partnered with multiple adult industry companies, and SpankChain’s cam site has been up and running for about six months. The former focuses more on privacy, advising adult businesses getting into blockchain, and creating a system for tracking users’ reputations. The latter emphasizes creating an ecosystem for adult performers, including a platform and a full-blown economy.

“Mass crypto adoption will happen in porn,” Soleimani says with confidence. People excluded from the current financial system, he says, will opt for a new one.

As XBIZ senior technology editor Stephen Yagielowicz asks about the challenges of building token-based ecosystems, it becomes clear that the panelists didn’t get into crypto to get rich quick.

They want to launch experimental, problem-solving tech in a space that’s been historically friendly to digital culture that they could help eventually apply to the wider world.

SpankChain is working on what Soleimani calls a “Spankcombinator,” an incubator where “value neutral” (non-adult) companies can take SpankChain’s tech and use it elsewhere. In return, they’ll give SpankChain equity in their projects. SpankChain is working with one such company so far.

We’re still in the early stages of blockchain technology, and even though there are great ideas, that can also lead to great legal issues as well.

 


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Samuel Tan

Samuel Wan has been an analyst and cryptocurrency evangelist for the last few years. Previously he worked as a consultant for a Big 4 consulting firm and is passionate about how blockchain will make an impact in the world. You can contact Sam at s@cryptomenow.com

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