Dutch Central Bank: Blockchain 'Promising But Inefficient' in Payments


Blockchain technology isn't a beneficial addition to the payment system in the Netherlands – at least not yet, according to the country's central bank.

In a blog post published Thursday, De Nederlandsche Bank (DNB) came to the conclusion that distributed ledger technology (DLT) is not suitable for its existing financial payment infrastructure due to its insufficient ability to scale for large volumes of transactions and other issues.

The DNB offered the opinion based on the results of a project called Dukaton, which conducted a series of experiments that has tested four DLT prototypes over the past three years.

Dukaton set out to conduct research in a bid to understand how much value the nascent technology can bring to the country's existing payment system. Basing its first prototype on the source code of the bitcoin blockchain, the team applied different consensus algorithms and validation mechanisms in later stages.

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Pornhub Adds Crypto Payment Option With Verge Token


Adult entertainment website Pornhub has announced that it will begin accepting the cryptocurrency verge as payment.

The company detailed its move in a blog post and accompanying video, saying that it will take the token for its premium services as well as other available purchases. According to Pornhub, the kick-off will be marked by events in New York City and Silicon Valley.

Pornhub VP Corey Price added in a statement:

«Not only is this an exciting announcement for us and the adult entertainment industry, it's exciting for the crypto space. History has proven that the adult entertainment industry plays a critical role in adoption for innovative technology. We saw that with VHS, Beta Max, credit card payment icons and, most recently, VR goggles. We expect to see widespread adoption of crypto and blockchain in short order.»
Verge's backers previously stoked speculation about its «mystery deal» earlier this month, and in March moved to collect donations in an effort to push ahead with the partnership.

According to Price, the partnership came about after Pornhub «approached [the Verge team] in a very deliberate selection process.» He also cited the cryptocurrency's user base and a recent online push on its forums to accept the coin as payment.

«We're extremely excited to offer our fans the ability to use crypto and think Verge, with its focus on anonymity, is the best option — whether for privacy, convenience or both,» Price said.