The Panama-based company Eroiy plans to spend 1.2 billion units of their own cryptocurrency with the identical name. The new crypto should serve as an anonymous way to pay for online adult entertainment services and also to release a pulse for the whole industry.

The hype about cryptocurrencies is hardly slowed down of the current price fluctuations of Bitcoin, Ethereum and other well known cryptos. Almost every day, startups or also well established companies like Telegram announce Initial Coin Offerings.

Representatives of the adult industry also want to get involved in this lucrative market and want to promote anonymous payment options to the end users.Contrary to popular thoughts, paying with Bitcoin is not really anonymous – it’s more like paying with a pseudonym only.

The company

Eroiy has a mailbox and headquarter address in Panama – the operating business, which is managed by the Swiss entrepreneur and investor Markus Steffen, will be run through his home country.

There is currently a seperate Eroiy GmbH in formation. The company wants to generate 2 billion units based on the New Economy Movement (NEM) protocol. NEM itself is also traded as a separate digital currency an has a market capitalisation of approximately 9 billion US dollars.

ICO phase

The company wants to collect 1.2 billion (or 60%) of the Eroiy tokens with the pre-ICO phase with a special bonus programme. The ICO will be finished at the end of March. Till the end of February 2018, the entrepreneurs had already raised about 14 million US dollars in the first round financing.

The money will be invested into IT development by 50% and each 10% into marketing and the general market conquest. The rest will be needed to build up the Blockchain environment, licensing and regulatory requirements, salaries, research and development and social networking.

The wallet technology NEM

According to the Eroiy whitepaper, the anonymity of crypto coins and a high level of data protection should provide a very safe wallet. Essentially, the developers want to separate the identifier for the user and the wallet at every transaction by placing a separate layer between the wallet and the corresponding blockchain entry. In this way, it should no longer be possible to find out, which user purchased which services.

Eroiy - More safety for the adult industry?

From a technological point of view, a transaction is linked exclusively to a wallet, the whitepaper states. Therefore, a user does not have to be identified with his personal data, but only has to enter his password and a hash, key or code number for payment application The key will be generated on the basis of the anonymous and unidentifiable wallet address.

The electronic Eroiy wallet provides better data privacy and more confidence than credit cards, digital payment solutions like Paypal and other cryptocurrencies. The wallet is not a groundbreaking innovation by Eroiy – The new coin itself will use the existing wallet solution from NEM.

Conclusion

The adult industry has already helped to spread technology trends in the past – think of DVDs and online video download and streaming. Despite all these great innovations, the adult entertainment industry continues to be one of the high risk business segments. The bad image creates difficulties for banks, high fees and also with the creditworthiness.

In addition to the classic advantages of cryptocurrencies, Eroiy convinces with its networking component. Everyone involved, from the end user, the website operator to the token buyers, has many advantages.


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