Any cryptocurrency ecosystem needs to keep growing and evolving. Without future developments, the project is nearly dead on arrival. For Bitcoin Cash, two new intriguing projects have been announced this week. Known as Cinema.Cash and Porn.Cash, they try to introduce BCH as a payment method for content creators.
Content Creators and Cryptocurrency Adoption
Over the past few years, cryptocurrencies have not necessarily gained more adoption. Most people own cryptocurrencies for investment and speculative purposes first and foremost. In terms of actually using them, the situation has become very different. It appears spending Bitcoin, tokens, assets, and altcoins remains an ongoing struggle as 2019 begins. Solving that problem will be quite challenging for obvious reasons.
In the Bitcoin Cash world, the same problem persists. More specifically, it is not as easy as one might think. Despite having the support of processors like BitPay, CoinPayments, and others, it is still up to users to effectively pay with this altcoin. As long as there aren’t more places to spend BCH, that may remain an ongoing struggle first and foremost. It would appear at least one community member acknowledges this problem and has come up with a potential solution.
Two new services have been announced to bolster the Bitcoin Cash ecosystem. One service is known as Porn.Cash, whereas the other will be Cinema.Cash. Both platforms serve a very similar purpose. The main objective is to build more platforms where content creators can publish their own videos and get paid for it. As one would expect, this will primarily improve upon the use of Bitcoin Cash as an actual currency.
Content creators will benefit from two particular revenue streams. They can either opt for the pay per view model, or the “tipping” approach. It is safe to assume the former will generate more “guaranteed” revenue. However, most cryptocurrency users aren’t necessarily interested in spending money on video content. As such, the tipping model can also prove to be very lucrative in its own regard. Having multiple options at one’s disposal is always favorable.
On paper, it may seem as if the tipping method might not prove to be worthwhile for most. To counter this potential problem, an incentive is created. Users will receive CASH tokens for every tip completed through either platform. These CASh tokens will also award holders with a share of all profits generated by the platform in question. A good way to ensure some initial traction will occur. However, the success of these projects is never guaranteed.
Although one has to commend community members for building such projects, it also shows there is still a very long way to go. Despite being around for over 10 years now, Bitcoin still isn’t even close to becoming mainstream. It seems all other currencies on the market face an even steeper uphill battle in this regard. For Bitcoin Cash, these two new projects may spark some initial excitement. Keeping the momentum going over the course of several months or years, however, will be nigh impossible without a solid business plan.