Altcoins in the “Entertainment Circle”

Cryptocurrency Titcoin and adult entertainment payment service provider Coinsnap have been named finalists for the 2016 XBIZ Awards, a prestigious adult entertainment awards show hosted by XBIZ, a company that publishes news and information on the adult entertainment industry.

Over the past two years, cryptocurrencies and other new currencies have attracted the attention of the adult entertainment industry. One of the reasons for this trend is the "Operation Choke Point" program, which was initiated by the Department of Justice and many banks to restrict access to financial services for high-risk transactions, including prostitution, gambling, drugs, weapons sales, etc.

Cryptocurrencies can provide consumers of adult products with more comfortable and convenient services. Compared with traditional payment methods, they can guarantee anonymity and privacy, take less time, and do not require credit card information.

As a result, in 2014, the adult entertainment industry introduced Titcoin, an altcoin designed specifically for purchasing adult products. Titcoin quickly gained widespread industry recognition and was nominated as a finalist for the 2015 XBIZ Awards for New Payment Service Company of the Year and Creative Web Product of the Year.

At the 2016 XBIZ Awards, Titcoin was once again nominated for New Payment Service Company of the Year.

However, Titcoin is not the only cryptocurrency-related candidate for the XBIZ Awards. Payment service provider Coinsnap has also been named a finalist for the XBIZ Awards’ New Payment Service Company of the Year category.

Unlike Titcoin, Coinsnap is not specifically designed for the adult entertainment industry. It is a general Bitcoin payment service provider that is gaining popularity in the adult goods industry. Adult entertainment service providers are using Bitcoin payments, which makes small payments very convenient in the era of cryptocurrency.

Bitcoin and other cryptocurrencies are generally popular because they allow service providers to offer different product plans - pay per view, pay per download, etc. Compared with traditional payment models, Bitcoin can provide a more flexible payment method and it has been accepted by companies such as Playboy and porn.com.

As Titcoin and Bitcoin take center stage in the adult entertainment industry, they demonstrate the ability of cryptocurrencies to solve industry-specific problems where traditional payment models often fall short. In particular, because financial institutions are often wary or resistant to the adult entertainment industry, which offers content-rich websites that often make sense with a pay-per-view model, the adult entertainment industry has proven to be particularly well suited to cryptocurrency use and has been adopted by key industry early adopters.

The fact that the XBIZ Awards are awarding the New Payment Service Company of the Year is a clear sign of the natural fit between the adult entertainment industry and cryptocurrencies. The winner of the annual award will be announced at the XBIZ Awards Ceremony on January 15, 2016, which will be held at the JW Marriott Hotel in Los Angeles.

Original article: https://www.cryptocoinsnews.com/titcoin-coinspin-nominated-adult-entertainment-awards/
By Niels Pedersen
Translator: gsj
Reward address: 1DHs7hZMdx6tgUHdqXiub3XrovrF6Pte7y
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/entertainment-coin)