The Panama-based company Eroiy plans to bring 1.2 billion units of a cryptocurrency of the same name to the market. They should serve as an anonymous way to pay for erotic offers on the Internet and inspire the industry.

<center>![](https://steemitimages.com/DQmaY28d9a3UcNZnDsnSW5m3wrEyPxYyD1mTUokQSHUaV9q/image.png)
[pic source](https://twitter.com/eroiy_coin)</center>

The hype about cryptocurrencies is hardly to be slowed down despite the price fluctuations of Bitcoin, Ethereum and Ripple. Startups or established companies offer an Initial Coin Offering (ICO) almost every day.
Also, representatives of the adult industry want to get involved in this lucrative market and bring their own industry forward with the help of an alleged anonymous payment method.

Behind the initiative is the company [Eroiy](https://www.eroiy.io/), which has a mailbox address in Panama and indicates this as the headquarters. The operating business, which is managed by the Swiss entrepreneur and investor Markus Steffen, is to run through his home country. There is currently forming Eroiy GmbH. The company wants to generate two billion units of cryptocurrency based on the blockchain protocol [NEM](https://nem.io/) (New Economy Movement). NEM itself is also traded as its own virtual currency and was ranked 8th in terms of cash in January with a market capitalization of approximately $ 9 billion.

<center>![](https://steemitimages.com/DQmPmd64wRdng9gWMnnG3uhBNdYtBJ2QE7pFd9ESi755qRd/image.png)
[pic source](https://smartereum.com/2525/nem-price-prediction-xem-usd-cryptocurrency-radar-investors-xem-news/)</center>

The company intends to spend 1.2 billion or 60 percent of the Eroiy tokens on a pre-expiring 25 percent "pre-ICO" plus a full Initial Coin Offering by the end of March, taking in billions of dollars for themselves. By February 28, 2018, entrepreneurs had already raised approximately $ 13.6 million in the first of two planned rounds of financing.
The money from the virtual IPO will flow for 50 percent in IT development and 10 percent in marketing and the general market conquest. Other funding items include work on the Blockchain environment, licensing and regulatory requirements, wages and salaries, research and development and social networking.

The anonymity of the cryptocoins and a high level of data protection should, according to the [Eroiy white paper](https://www.eroiy.io/files/whitepaper.pdf), provide a special e-wallet. Essentially, the developers want to separate the identifier for the user and the virtual wallet from a transaction by placing a separate layer between the wallet and the corresponding blockchain entry. In this way, it should no longer be possible to understand which user purchased which goods, apps or services.

From a technological point of view, a transaction is linked exclusively to a wallet, the paper states. Therefore, a user does not have to be identified with his personal data, but only has to enter his password and a code number for the payment application.This is generated on the basis of the anonymous and non-identifiable e-wallet address. The electronic Eroiy wallet provides better privacy and more confidentiality than credit cards, digital payment solutions like Paypal and other crypto currencies.

The Banking Supervision warned last November already:
>Significant risks associated with participation in financing with cryptocurrency tokens. Initial Coin Offerings are "highly speculative investments".

According to the white paper, Eroiy excludes citizens from the USA, from China and Singapore from the participation project. Even countries sanctioned by the US, such as Iran, North Korea, Cuba, Syria or Sudan, were left out "because of certain precedents", Hasenclever points out. The laws in these states are "so restrictive and intrusive that Bitcoin and other cryptocurrencies are tightly regulated." Nevertheless, the Eroiy-makers generally believed that "everyone in the world can benefit from our erotic ecosystem". For example, the authors of the white paper describe Chinese companies as a potential future target market, as consumers in China are increasingly looking for convenient, fast and cost-effective payment methods.

[Story source](https://www.golem.de/news/eroiy-eigene-kryptowaehrung-soll-erotikbranche-auf-touren-bringen-1803-133051.html)

<center><a href="https://smartsteem.com?r=pundito" target="_blank"><img src="https://steemitimages.com/0x0/https://steemitimages.com/DQmYRoKwatvUwCAfuZo4Gbvbr2qhtYLDZfbmBfNw76BnhiC/smartsteem_banner.gif" /></a></center>