Another Blockchain First – Everyone Paid to Watch Porn?

Another Blockchain First – Everyone Paid to Watch Porn?

“This is going to change porn,” Stuart Duncan tells me. “Free was good, but getting paid is obviously better.”

As I’m sitting there discussing with Duncan his latest, upcoming project – the Vice Industry Token (VIT) – a token sale which he has been planning for the last few months now, it occurs to me that, on paper at least, he might actually be onto something. 

The proposition: to create a blockchain-based porn website where viewers will actually be paid to watch porn. On the face of it, that might sound like a far-fetched proposition.

It sounds like another one of these blockchain magic bullet solutions that are being sold by quacks to drum up some hype in order to bring attention to their project, make a quick buck from undiscerning investors before the project team disappears back into the Ether, of which they hope to have plenty by the time their scam is uncovered. 

For all I know, Duncan might be planning something along the same lines. The reason that I am not wholly convinced by that idea, however, is that I know that his proposition is actually technically feasible – thanks to the Blockchain. But how exactly?

Where It All Gets Steemy

The answer lies in something called Steem. Steem is a blockchain designed to reward good content. The most successful platform today that has been built on the Steem blockchain is the Steemit website, a blogging site where anyone can sign up and wax lyrical on subjects ranging from Photography through to Bitcoin.

The Steem blockchain carries its own native token, Steem, which is awarded by the network to the most popular content creators. On the Steemit website, for example, that means that the most popular blogs are paid – in Steem. And that Steem can, of course, be converted to Bitcoin which itself, as we know, can be converted to any traditional fiat currency. 

 

Lingerie image

 

There are currently thousands of bloggers now on the Steem network who are making hundreds of dollars each week in Steem as a result of writing about their passion. Some have been lucky enough to make a career out of it. The network also allows you to make money from up-voting good content, although not quite as much as for creating content.

In other words, you can also get paid to like great blogs.  “I’m planning to do exactly the same thing,” Duncan says, “except with me, it won’t be blogs, it will be porn.”

Smart Media Tokens 

What will help matters is the upcoming release of the Smart Media Token, a recent development on the Steem blockchain that allows anyone to come along and create an out-of-the-box, white-label, wholly brandable Steem-derived token which provides the ability for any content platform to adopt the same content reward mechanism. 

All Duncan needs to do now to enact his get-paid-to-watch-porn content model, is to find the right developers to create the Vice Industry Token which will be used to reward both creators and consumers of porn.

As with any project, however, there are risks. The Steem network’s content reward model is not without its critics. Having undergone exponential growth in user numbers for the first fourteen months of its existence, the Steemit platform suddenly began to plateau in September 2017, with numbers even dropping. 

“The problem with Steemit,” one user tells me, “is that you get paid to like stuff but will only get paid if it turns out if everyone else likes what you’ve liked. Some people grew tired of that, I think.”

In other words, the platform seems to create a herd-like mentality which leaves some people frustrated.  Anyone who creates content that runs against the grain, or says something that the masses won’t like, will be punished financially. 

Despite the drawbacks, we are seeing nonetheless another example of where the Blockchain has turned traditional business models on its head. And if Duncan and others like him get their way, the entire porn industry may now just find itself in the Blockchain’s firing line.