While prostitution exists only in the seedy underworld of western countries, the sex-based business is as open as it gets in Thailand. Every day, Thai prostitutes roam the streets luring their customers in for a night of pleasure. It’s a centuries-old tradition but it’s about to get a 21st-century makeover. Cryptocurrency is disrupting the industry in new ways and it’s taking the iconic, South East Asian nation by storm.
CRYPTOCURRENCY MODERNIZES THAI PROSTITUTES
“Tokenizing” prostitution is not a far-fetched dream. In fact, it’s already happening right now. Last year, Lust began their ICO which helped raise money for their prostitution cryptocurrency. Using the Ethereum blockchain, Lust developed a way for prostitutes and their customers to exchange crypto for a sexual service.
This could be especially useful for Thai prostitutes as the smart contracts help to keep everything anonymous while also avoiding law enforcement and public humiliation. But now the big question. Is any of this truly legal?
ARE THAI PROSTITUTES MORE SAFE WITH CRYPTOCURRENCY?
When talking about prostitution, the issue of legality always comes up. Thai prostitutes are not themselves legal but perhaps using cryptocurrency would help them hide from the law a little bit more. However, using cryptocurrency itself if not exactly a safe option either. Even though Lust claims their system is “not illegal anywhere in the world” one must ask if that’s really true. In reality, this technology is not really helping prostitutes. Instead, it’s just helping men solve the issue of embarrassment when they go out hunting for female sex workers. But don’t worry. For there is always another option.
THE FUTURE FOR THAI PROSTITUTES AND CRYPTOCURRENCY
Sure, Lust coin is not such a great solution for this problem now but it’s a step in the right direction. Hopefully, in the future, one can approach a female sex worker and pay them in any cryptocurrency they use. The prostitute will then have access to tactical exchange platforms like Kelvin to receiving the money in any currency she and or he would like. As a result, the process is more streamlined, safe and anonymous. This Utopian future is a still a few years in the making but it’s a future we can all expect eventually.