Playboy will sue Canadian firm that failed to integrate blockchain into their services

World renowned giant Playboy Enterprises has decided to sue Global Blockchain Technologies (GBT), alleging that the Canadian company that committed itself was unable to fully integrate blockchain technology into the customer’s online services..

It is reported that the proceedings in the Playboy Enterprises case will be handled by the Supreme Court of the city of Los Angeles. The Canadian company received allegations of fraud and non-fulfillment of obligations prescribed in the contract, which the parties signed back this spring..

Under the terms of the agreement, GBT was to develop capabilities to integrate Vice Industry Token (VIT) into Playboy media resources. Representatives of the affected party noted that the blockchain firm not only failed to comply with the requirements, but also did not return the payment in the amount of $ 4 million, which was previously stipulated in the agreement. Now Playboy is seeking compensation, the amount of which has not been disclosed. GBT disagrees with the claim and believes the fraud allegations are unfounded. In addition, the accused party is confident that she has sufficient evidence to support her position in court..

Recall that in March, Playboy first announced its plans to develop an online wallet that would allow customers to use cryptocurrencies to pay for media products (it is known that the work was supposed to be based on the Vice Industry token). Later in May, the GBT team announced that it was they who got the contract and that they are already actively working on the Playboy wallet (in addition, the development implied the formation of interfaces for user platforms). VIT raised $ 22 million in Ethereum in the first 24 hours of its ICO. By design, blockchain platform  was created to reward viewers with VIT for viewing content.

By the way, this practice is not new in the area under discussion: earlier, in the spring of 2018, the Pornhub site, in partnership with the Verge (XVG) cryptocurrency, identified the coin as a method of paying for purchases on its resources..

Playboy will sue Canadian firm that failed to integrate blockchain into their services

Pornhub VP Corey Price noted: «It is historically proven that content for an adult audience and the entire industry in general plays an important role in the adoption of new technologies. We’ve seen this with VHS, Beta Max, and more recently with VR technology. We expect the popularization of blockchain solutions as soon as possible».

Market Rallies | Short Squeeze Incoming? | $114M Bitcoin to BitMEX

Earlier, we wrote about other possibilities of technology: Liverpool wants to use blockchain to create an environmentally friendly.

text: Evgeniya Likhodey, photo: official pages of Playboyrussia and

Similar articles