Pioneers in Adult Industry use blockchain technology to provide financial services that other sectors take for granted.
LONDON – WEDNESDAY 21 MARCH – Today, intimate.io counts down to the closing of their Industry Pre-Sale, where they have so far raised a total of $ 5.1 million toward a hard cap of $ 16.85 million. The London based company are striving to serve businesses with a blockchain-based pseudonymous reputation framework to enable safe and secure transactions for an industry that has been unable to rely on traditional mechanisms of payment and identification: The Adult Industry.
Currently, there is a trade-off between people’s desire to keep their personal data anonymous while also wanting the trust and safety that comes with data disclosure and transparency. intimate.io solves this problem with:
- A Payments Solution to address industry-wide difficulties with accessing basic banking products and merchant services due to moral bias;
- A Pseudonymous Reputation System which affords users the right to transact – both online and in the physical world – with privacy and trust;
- Partnerships With Industry to develop a clear framework which differentiates between ‘good’ and ‘bad’ actors on the network, to protect human rights, define industry best practice and support ethical conduct;
- Partnering With Oracles for scalable off-chain verification of information such as personal ID and Sexually Transmitted Infection health checks.
The team behind intimate.io have identified the adult industry as the sector with the most immediate need for their solution. Despite being one of the oldest industries in the world, it is still largely unregulated, its workers are marginalized, and very often, neither supplier nor customer is protected or empowered. Institutional bias has made it near impossible for sex tech entrepreneurs to rely on traditional mechanisms of payment and identification, while many mainstream banks and payment gateways – such as PayPal and Stripe – won’t deal with retailers in this space at all.
Co-founders Reuben Coppa, Leah Callon-Butler, and Nathan Smale united through their shared vision to change the adult industry for the better. Each brings a wealth of sound business acumen, entrepreneurial flair, and expertise in applying technological solutions. A testament to the product and team, intimate is supported by a wide range of technology partners, including EI8HT Wallet, ABA Technology, Integrity.
The intimate pre-sale ends on GMT 5 pm 28 March. An updated white paper has been released. To find out more and to become part of the intimate movement, visit here.
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Images courtesy of intimate.io