The sex industry could be the best customer of digital currencies

Given the reluctance and doubts of banks and credit card franchises, cryptocurrencies are emerging as the ideal means of payment for a global business that, however, seems to move between shadows. A sex toy businesswoman Lucy Fernandez is fed up with bankers looking at her strangely. Her online store sells candy-colored vibrators, handcuffs and other intimate products for women. Despite selling the entire inventory, Fernandez said she had trouble finding a bank that would grant her a loan for small businesses. She attributed it to the fear of the financial industry when it comes to sex. “When they label you as a company for adults, they put you on the blacklist,” said Fernandez.

Banks and credit card companies can be narrow-minded when it comes to adult companies, which can generate large sums of money. Only the sex toy industry moves more than US $ 20,000 million a year worldwide and, by 2020, sales are expected to reach almost US $ 30,000 million, according to a market research firm based in London.

Concerns about cancellations

Credit card companies are also concerned about cancellations, which occur when a cardholder claims that a transaction is fraudulent. For example, if a man watches adult webcams and loads them on his card, then he denies doing so when his wife discovers the payment, and the card company has to take over the payment. The absence of such complications has led some companies for adults to embrace the arrival of digital currencies, such as bitcoin and ethereum, and the increase in digital payment tokens, which could help them avoid skeptical intermediaries and allow customers to make direct payments. However, the pornography industry still finds its way because it is a facility for humanity’s deepest desires.