The global sex market recorded over $200 billion at the end of the year 2020. The potential for the sex market is great because the internet significantly alters the perception of sex services ease and accessibility to the users. While comparing it historically i.e. 1980, the number of individuals who purchase sex services doubled globally. However, along with great potential, it also faces some of the major challenges for which bitcci creates unique solutions. This article will discuss the sex industry challenges and how bitcci is revolutionising the sex industry.
A brief overview of the sex industry
The term “sex industry“refers to individuals and firms that offer sex products, sex services, or performance in exchange for monetary payment. It encompasses various enterprises, including video, phone sex services, and Internet pornography. Sex shops, sex tourism, and strip clubs also fall under the sex industry. The individual who is employed in this industry is termed as a “sex worker“.
The industry also comprises directors, producers, owners, enterprises, and organisations that offer infrastructure and support to a multi-billion-dollar industry. Considering the global nature of the sex industry, where many enterprises are illegal or only semi-legitimate it is known that earnings go unreported. Therefore, estimates of industry scope are necessarily flawed.
According to the data available, the sex industry plays a significant role in the US economy, as in other nations. From the advent of video recording technology in the early 1980s, the purchase of hard-core pornographic videos in the US has changed significantly. A federal study carried out in 1970 forecast the value of hard-core porn in the U.S. was under $10 million. Americans in the mid-1990s spent approximately $1 billion annually just using phone sex services. A large amount of revenue generated by night clubs comes from porn stars working as a dancers.
Problems Associated With The Sex Industry
The sex industry faces a lot of challenges that directly influence the level of development of this field. Some of the sex industry problems are listed below.
-It is known that most of the creation of sex services and their consumption is not universally recognised as legal. In some nations, it is prohibited and considered a crime. Therefore, the sex industry doesn’t receive global acceptance and is even considered an offence for which strict punishment is imposed.
-The industry supplanted into the shadow economy. Due to this, a lot of problems are created for the sex workers functioning in this industry. The person working in the sex industry doesn’t entertain social security services and tax advice. Along with such, finding training programs is even too complex for the sex workers entering the industry.
-It is reported that some sex workers have poor living conditions and lack security for health, accident, and pension. Generally, it is not a recognised profession for individuals as it doesn’t have stability and is not well-accepted globally.
-The firms and businesses are forced to work at half capacity and in the shadows because the sex industry doesn’t receive global recognition. However, such a situation has changed along, and we will be discussing the complete legalisation of the provision.
As we have discussed, sex industry activities are not legal everywhere, due to which several other issues arise in matters of labour legislation. It is reported that people working in the field often face several issues that they cannot solve. So, we can understand that every fun and entertainment has a downside. In the next section, we will understand what bitcci is and how it helps overcome the sex industry problems.
What is bitcci?
Specifically, bitcci came into existence in 2017. Christoph Elbert, the CEO, built the company from 500 USD. The company has come a long way with complete dedication and innovative ideas implementation and is well recognised. The bitcci AG is the only one responsible for issuing and receiving the entity of the bitcci cash token.
The bitcci cash token doesn’t support any third-party service, which doesn’t come under the bitcci ecosystem. Therefore, bitcci cash can only be used within its ecosystem to buy and exchange cryptocurrencies directly. The name of the company is inspired by three words: ‘Bitcoin’, ‘bitch’, and a famous Italian clothing brand. Some of the essential and salient features of the company are listed below.
- At present, bitcci Group AG comprises three public stock companies and the brand, and are further looking to establish two more companies under its name. It is an I.T. company located in the crypto valley that releases the ICO of the network payment token used for paying for all services under the bitcci ecosystem.
- bitcci liberates the sex industry from the challenges and conflicts and also establishes an innovative culture of acceptance, trust, reliability, and self-determination.
- bitcci optimizes and decentralises the sex industry by creating innovative areas and use new technology so that participants will remain safe and secure.
- bitcci is establishing are establishing a regulated chain of exclusive nightclubs in hot spots globally and also launched the Apps and Portal. They are also providing the Blockchain-based payment service for the next-generation sex industry.
The bitcci nightclub refers to the network of innovative and standardised nightclub buildings located in the premium segment, closely coordinating with the authorities. They are primarily launching themselves in the European Union, where they will establish about ten nightclubs by the end of the year 2022.
Role of bitcci? in revolutionising the sex industry
The Swiss-based firm named bitcci AG is revolutionising the sex industry with the introduction of Blockchain technology. The main objective is to modify the culture of the sex industry and establish the level of safety, freedom, and compliance for all parties involved. The organisation hails from Switzerland and Liechtenstein and establishing new IT platforms, nightclubs, applications, and Blockchain-based payment solutions within the sector.
The company is receiving a positive response as its presale of native tokens sold out in 15 days. Along with such, the company raised 1 million CHF in two weeks of July 2021. The received amount will be used to fund the company’s brand awareness and remodel its headquarters in Switzerland. The brand is globally well connected and is in partnership with different Blockchain associations operating in Europe. The club software of the company, bitcci club, is successfully operating in four sauna clubs located in Switzerland.
In addition to such, the brand is also looking to purchase ten plots of land in Europe. They are looking to open five new bitcci nightclubs to provide more compensation opportunities to sex workers. The brand will also elevate its application and website for providing a secure and hassle-free experience for the customers. The app is developed; however, still under maintenance and hopes to host about 1 million registered sex workers by the end of 2022.
Training and high work/life balance
The central starting point of the company’s business model is sex workers. They are offering great opportunities for sex workers by providing training programs marked by free self-determination. It will help sex workers to receive stable and long-term reliability to the bitcci ecosystem and high work/life balance. It is seen that sex workers are generally overwhelmed with many formalities and language barriers and decided to neglect time. It leads to follow-up costs and sanctions for the administrative offences made by the authorities.
Therefore, bitcci institutes the largely automated controlling of the process, which uses innovative technology and can be managed by sex workers using a Smartphone. It includes tax advice and payment, official registration of the sex worker, and agency services (promotion). When sex workers sign up with bitcci, they will receive professional photographs and assistance in marketing their services. In addition to such, bitcci AG also plans to provide pension funds for the sex workers, telemedicine and drug counselling. The club building will include state-of-the–art equipment and utmost security precautions for both personnel and technical service.
bitcci Banking solutions
Coming to bitcci solutions for banking, it is recorded that over 60% of the sex workers are currently operating in nightclubs are coming from the east of the European Union.
They are so limited in their capability to have active participation in the normal life of society. The transactions are currently made in cash and therefore bitcci will develop a new banking solution that helps the sex worker to have better stability and control over their savings and spending. The bitcci bank system is a tremendous help for the workers in clubs, as they gather quite some amounts of cash and mostly don’t have bank accounts.
For a BETA test, there have been bitcci ATMs installed directly in the clubs so that the workers in the clubs can put the cash in and will have it immediately on their bank account. Together with licensed Fintech partners, the company will develop their bitcci debit card inclusive, IBAN account numbers.
However, sex workers’ above-average income in the Central European sex industry are in the five-digit range, but only a few avail themselves of pension provision. The firm will offer education in the bitcci Academy and partnerships with licensed partners to offer their product, the bitcci pension fund in the near future.
Now, sex workers will find it easy to make safe and secure foundations following their retirement. Some of the other offerings of bitcci to provide a better lifestyle and comfort are listed below:
-Free choice to select the workplace
-Ability to set pricing for their services.
-Holiday & leisure offerings
-Free to choose working hours
-Free to choose a client
-Free choice of services to offer
-Separate living area for accommodation
Better Communication Tool
The bitcci AG always encourages the customer and working staff to treat each other respectfully to maintain creditability. As sex workers are registered with bitcci, the company guarantees their security and assists whenever needed. The bitcci IT platform offers a communication tool that facilitates the sex worker to provide digital and physical services.
It includes services like chat service, line video, paid telephony, or even digital sale of content, including photographs and recorded videos available in the bitcci cloud. It will offer a lucrative and amazing source of income for the sex worker, and digital service will be settled in bitcci cash.
The sex industry has encountered a significant change as the value of the sex industry has doubled globally. However, it is also essential to note for legal purposes that still some of the nations don’t allow sex services to be operating as it is considered illegal in some countries. The bitcci Group took the responsibility to overcome the shortcoming and sex industry problems by introducing Blockchain tokens into the field.
The company offers utmost security and other facilities with great effort and a secure digital platform where sex workers can register. The main goal of bitcci is to modify the culture of the sex industry and establish the level of safety, freedom, and compliance for all parties involved. It can be concluded that bitcci offers training, online payment options, and pension fund services that help improve the living standard of sex workers. By signing up with bitcci, sex workers will find it easy to make a safe and secure foundation for their retirement along with a recognised profession globally. Therefore, it can be said bitcci solutions plays a significant role in revolutionising the sex industry by eliminating several issues or challenges faced by sex workers.
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