Hey guys,
I’ve got a really cool and interesting new project to review today, called LOVR, which is looking to do big new things in the adult industry.
Quick disclaimer: this project, like all I review, is new to the scene and is still under development so please always do your own research. Also remember this is my opinion and not financial advice; these videos are for educational and entertainment purposes only.
Let’s jump right into it!
INTRODUCTION
Believe it or not, there is big money in the adult industry. The entire adult industry- if you take into account offline as well as online world- is absolutely huge, valued at way over $100 Billion.
Not everybody is aware of this, because even though it’s a massive and booming industry, it is not something openly discussed because people value their PRIVACY. For the same reason, most people are hesitant to make payments within or interact otherwise with the adult industry because they know payments can be traced especially through credit cards and other online payment methods.
Thanks to LOVR, users need not worry about that anymore as the team have designed a privacy-focused way of making payments to adult service providers with the use of their LVR token, based on blockchain technology. And that’s just the start!
PROBLEMS AND SOLUTIONS
The first problem identified by LOVR is the issue of anonymity. Payments made to adult sites via regular payment methods can be traced, and people don’t like the idea of that for obvious reasons. Well, LOVR doesn’t want that for you either, and their blockchain-based payment system provides a solution. Payments using LOVR tokens do not link to or reveal your personal identity like usual payment options.
Then, a huge problem for online adult service providers, is the issue of chargebacks- customers making purchases then claiming otherwise in order to receive a refund. This disrupts the revenue and profits of many players in the adult industry, and often because the customer does not want to be revealed for having made that purchase. As stated, LOVR tokens will enable incognito payments and using blockchain technology will be resistant to chargebacks- they just aren’t possible using blockchain. An agreed purchase is final, unless the merchant agrees otherwise.
The biggest problem in my opinion which LOVR are looking to tackle is the issue of extraordinarily high transaction fees for merchants within the online adult industry. Fees from the select few payment processors willing to deal with adult industry transactions are hugely unfair compared to other industries, sometimes at 10-15% of profits, and this is a prime example of how the trust-less nature of blockchain cutting out the middlemen (this time in the form of payment processors) can provide a MUCH more attractive alternative for actors who are normally discriminated against by central players.
SPECIAL FEATURES
What stood out to me most about this project is that LOVR obviously have a well thought out plan for online payments etc., as we have just discussed, but it seems they have placed more emphasis on the offline adult industry- and I myself think this is where the most positive change can come.
In the offline space, LOVR are planning a huge amount of features that will make the adult industry a better place to operate, but I’ll center on a few that caught my attention. The first is that LOVR helps users purchase and participate in adult services and remain incognito as far as possible- and privacy is a huge concern as we have established. Secondly is their booking platform which is going to make the daily operations of users a lot more efficient and secure. The booking platform will essentially be a blockchain-payments enabled ecosystem which will allow for discreet interaction, easy communication, and fraud-resilience like never before seen.
Other services include the LOVR e-wallet and the LOVR x-change, for the secure handling of your funds. This is all designed to enable people to gain a better experience within the adult industry all-round, and I think LOVR have done an excellent job in applying the uses of blockchain to the problems of the adult industry.
TEAM
Robbin Attig is the CEO of this project, a guy with over ten years of experience in cybersecurity, software development, and the erotic industry. This is a trio of ideal experience bases for somebody launching an adult-based, privacy focused blockchain project such as LOVR, surely! Robbin is clearly playing to his strengths and expertise.
Another important LOVR team member is Daniel Bossenz, COO and co-founder. Again with ten years of experience as a business Angel investor consultant, Daniel has helped various startups in Germany to climb up the ladder of success, and looks to aid LOVR with his business development expertise in the same way.
Their core team overall looks varied and especially skilled in the fields of marketing and development, which is good to see. More on the team can be found on the website where you can also click through to their LinkedIn profiles.
CONCLUSION
So far everything looks good for LOVR; the problems are obvious and the solutions which blockchain can provide to solve them just smack you in the face.
I just hope LOVR can effectively market their solution to potential industry partners, which I believe will have the biggest impact in terms of reach and expanding user base. Their vision for positive change is incredible and the proposed LOVR ecosystem has the potential to completely revolutionise especially the offline adult industry for good. I hope LOVR get the support they deserve!
I want to give a big shout out to all of you guys for reading, especially anyone following me over from social media, and be sure to follow if you want to see more reviews from me. I’ve got lots more insightful reviews on the way so stay tuned.
I will see you guys again very soon!
LINKS
Website : https://lovr.network/
White paper : https://lovr.network/docs/whitepaper.pdf
My Bitcointalk profile (datniccy97): https://bitcointalk.org/index.php?action=profile;u=2099905
Nicely reviewed CR, love your presentation keep up the good work.
Thanks!
Glad you've decided to come over to the crypto space Robyn :) following!
Appreciate that :)
What about Verge (XVG)?
Verge can be used at PornHub
What's stopping professional escorts from using Verge?
Verge doesn't have the whole ecosystem built around it as LOVR is building; XVG is just a superfluous currency on PornHub atm, any currency could be in its place that but not any currency is building an ecosystem and community of adult related blockchain powered apps such as LOVR's booking platform :)
So technically, LOVR doesn't have this so-called 'ecosystem' built yet?
Verge has been known for its privacy (and to the contrary it's security flaws) but with an established token that is being widely adopted for this type of use, it would seem silly to just keep creating more tokens that do the same thing. For the record, I do own Verge. Do you have anything to do with this new token called LOVR? Are you the creator?
Verge certainly made an incredible display about being accepted on PornHub, if that's what you're refreeing to- and I certinaly admire their showmanship, if nothing else :)
I have nothing to do with LOVR, I am a reviewer and crypto enthisiast, but I love that LOVR are specifically building a rounded solution for those working in the adult industry. Sure, Verge can be used as a private payment mechanism like LOVR are planning, but LOVR are indisputably developing a series of dApps to be used within the adult world to make it a more secure, safe and more beneficial experience. I don't know of any such developments by Verge, other than its function as being a private currency?
Love the photo :D and liking your own comment isn't going to make your point more convincing ;)
They sure did! It was great marketing.
I will take a closer look at LOVR but I don't think this is the first group to try to solve this issue for the sex trade.
As far as liking my own comment goes, I thought for sure it would get you to reply... Did it work?
Haha it did work indeed :D
I know of a couple of projects tackling issues within the sex trade. I'm not hating on Verge, it's a fine currency and I do admire their flair for marketing, but I personally like the aspects other than simply private payment; there are definitely huge improvements to be made to make the physical day-to-day experiences of sex workers more secure and fulfilling, and this is what I find most interesting.
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