When PornHub announced they would be accepting Verge XVG payments, the cryptosphere erupted, not because the announcement was a huge deal, but because Verge had allowed for a massive hype to build around a mystery announcement that was set to totally change the world of cryptocurrency adoption. The announcement also came off the back of a very expensive crowdfunding campaign, so, PornHub did leave a lot of investors feeling a little spent and a little hard done to with this announcement.
Many tried to defend Verge saying that the ‘partnership’ was quite a big deal, given the capitalisation of PornHubs grip on the market and their volumes in traffic etc, maybe it could have had a big impact on Verge XVG eventually? Indeed, this looked to be the case, however recently PornHub have decided to begin to accept many other cryptocurrency payments for their adult entertainment subscription, these include TRON TRX and most recently, PumaPay.
The Verge announcement is now well and truly watered down I’m afraid.
According to PCMag, PornHubs Vice President, Corey Price has said:
“As one of the most viewed websites in the world with over 90 million daily visitors, it is our duty to stay at the forefront of innovation and ensure the privacy of our users. As decentralized payment systems continue to grow in popularity, cryptocurrencies are especially viable in the adult entertainment industry because they incorporate more anonymity tools than traditional tender.”
PumaPay will allow users to establish recurring payments for their PornHub subscription, sort of like a crypto direct debit, through a system known as the PullPayment Protocol. According to PCMag, the CEO of PumaPay, Yoav Dror has added:
“PumaPay’s technological solution, the PullPayment protocol, reverses the mechanics of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account. With PumaPay, merchants avoid the drawbacks of the current banking systems, such as high transaction costs, the insecurity of chargebacks (reverse transactions) and associated fines, and the lack of customer anonymity.”
You can see more for yourself, here.
It’s not a massive deal for PornHub, nor is it a huge deal for PumaPay, but it does add insult to injury for the Verge project, one that really hasn’t recovered from the mess left behind after the PornHub saga.
