The Third Web Micro - Economies #2 - SpankChain
In today’s episode we look at SpankChain, an adult industry cryptocurrency payment system built using Ethereum. Currently, financial intermediaries in the adult entertainment industry exploiting their position to impose arbitrary rules on content by refusing to serve participants who produce content a specific payment processor finds objectionable.
The effect of this is to persecute already marginalized groups like trans men and women and as well as severing the income of both individuals and businesses in a one hundred Billion dollar industry.
Using payment channels and a novel ethereum based tech stack, Ameen Soleimani and Janice Griffith aim to liberate the adult industry from exploitation by evil financial intermediaries. Soon there may be a place so spend ether.
This episode contains graphic descriptions of pornographic content so if that makes you feel uncomfortable you’ll want to give this one a miss.