By
Chimamanda U. Martha
April 19th, 2024
Pornhub has announced PayPal’s decision to stop payouts to a great number of the site’s performers. It has been indicated in the company’s blog post.
In one sudden and swift move payments giant PayPal has cut off the thousands of performers on adult behemoth Pornhub that depended on the payment service to receive their payments. The pornographic platform indicated this in a blog post in the help section on the website. They wrote:
“We are all devastated by PayPal’s decision to stop payouts to over a hundred thousand performers who rely on them for their livelihoods.”
This, of course, has fundamentally changed the way and manner in which the performers will be able to receive their funds. Before now, Verge was added to the list of payments (in April last year). Although it was hinted that Tron and Zcash would also be accepted, it seems that those options haven’t been accepted by Pornhub as of yet.
The only limitation to this development is the knowledge of the use of cryptocurrencies that the models will have to adapt to and learn.
URGENT: PayPal has stopped all Pornhub model payouts.
If you had PayPal as your payout method please change to direct deposit/SEPA, or payment by check in your settings. Read more here https://t.co/LQAKeMsHIu
— Pornhub Model Help & Updates (@PornhubHelp) November 14, 2019
Of course, the cryptocurrency community has also made calls for Pornhub to expand the payment options which should include other cryptocurrencies such as Bitcoin, Litecoin, Ethereum and others as well.
The Financial System Fights Porn
In what is seen as a widespread war on the pornographic industry many financial institutions now block funds and accounts that related to pornographic or sexual activity. While the reasons for this widespread blockade is unclear, the banks and other financial institutions have cast a long shadow on the various activities that occur within the adult industry.
With the appropriate backing from political and religious leaders, the financial system has ended up crippling the adult industry and many people who are dependent on the incomes from the activities within the industry are left stranded with no place for succor.
Can Cryptocurrencies Bridge the Gap?
In what may be a panacea to the various problems that the adult industry is facing, cryptocurrencies may be the last solution that may be able to solve this impasse which has slowed the activities of many people. This, of course, will now come with the price tag of learning how cryptocurrencies work in the first place as the “geek-speak” of the cryptocurrency community has already put many off due to the lack of understanding the fundamentals that guide the cryptocurrency community.
This, of course, can also be mitigated through the implementation of projects specially for the adult industry. Spankchain which is one of such projects (there are very few of those) offers one way out for the adult industry. While the cryptocurrency community is still new in itself, it is problems like these that spur innovation to change the way the financial system works. Decentralized finance (defi) may just be what could rescue the adult industry from the doldrums.