A new adult videochat service is using Bitcoin to disrupt not only payments but the very mechanisms of the adult entertainment industry.
After almost 20 years of consumers using credit cards and PayPal to access online content, European platform Xotika.TV has developed an alternative – where everyone gives, receives and transacts entirely in Bitcoin.
Its creator Cristian Cora, who previously spoke to CoinTelegraph about changing trends in adult entertainment, hopes that Xotika.TV will make a significant indent and ultimately shift attitudes and practices in the industry. What is currently commonplace, such as exorbitant commission taken from models’ earnings, delayed payouts and consumer fraud, can according to Cora be largely solved by using Bitcoin instead of fiat currency.
“Though retailers have begun to warm to Bitcoin, adult entertainment companies have nonetheless resisted accepting virtual currency — even as revenues at many studios have plunged in recent years,” he said. “At Xotika.TV, one of our goals is to help the porn industry overcome its Bitcoin shyness.”
While the advantages to viewers – anonymity, no contract, flexibility to tip models – are obvious, the entry of Bitcoin has been most effective for the models themselves. Under the service, Bitcoin is used to