Does bitcoin have the potential for the online dating industry?

Does bitcoin have the potential for the online dating industry

There are many reasons why surveys reveal one-in-three modern relationships start online. It’s so convenient to search for partners via computer screens or hand-held devices, rather than hanging around crowded nightclubs or singles bars. Dating services also embrace technology, utilizing matching algorithms, and offering customers video-chatting.

Tech innovations are constantly being harnessed by these websites, for communication, but also for any financial transactions. Bitcoin is impacting markets across the world – but will it affect the dating industry?

User-friendly websites

Online dating has become such a flexible way for singles over 40 to interact. Middle-aged and older individuals, who might seem less likely to be enthusiastic about flirting via screens, represent a hugely enthusiastic demographic.

They are attracted to senior dating outlets because they are increasingly built to be user-friendly. Web developers also appreciate ‘single surfers’ are often wary when invited to input credit card details during any application process. This is why bitcoin could prove to be an ideal solution.

How would bitcoin be applied?

Online dating is a global phenomenon. You only have to navigate to the foot of the homepage on many sites to uncover a host of links to other countries. People gravitate to dating outlets for this reason This leads to obvious complications for site administrators, having to design financial transacting channels to accept currency from any corner of the globe. Bitcoin removed the middle-man where these payment systems are concerned.

Engendering trust

Online dating sites have gone to great lengths to present singles with a seamless experience. But there remain long-standing issues regarding the integrity of the people newcomers can end up interacting with when they sign up for these services.

How can you state with 100% certainty that the stranger you are interacting with is a true representation of the profile image and personal description that has been uploaded? This is where bitcoin technology is increasingly being deployed on these platforms. Because bitcoin isn’t tied to any central bank, the crux of its revolutionary impact on payment transactions is the way it relies on a ‘blockchain,’ where the validation of identities is crucial. To make the most of this financial solution, users are required to verify who they are. This level of trust allows much greater levels of transparency.

Introducing third parties

Since the first commercial matchmaking platforms were introduced in the 1990s, the model has centered on singles seeking compatible individuals for relationships, either casual or longer-term. There have been variations on this theme but the name of the game is A aiming to get into a partnership with B.

The aforementioned trustworthiness of bitcoin technology has allowed a whole new dynamic to enter this realm. Some users are now participating in a purely matchmaking role. Site members are now entrusting their futures to third parties they assume would make meaningful choices on their behalf.

What does the future hold?

An obvious question arising from this unusual step would be why should singles feel they can rely on what these matchmakers have to say about anything? That’s straightforward. These third-party operators gain rewards for helping assist other members of the dating site to fulfill their aspirations.

Tokens are bestowed on successful matches, giving them the incentive to seek out suitable romantic partners. While many people are hooked on the traditional method of searching for someone to start a relationship with, assuming responsibility, you can also see why others might see the benefits of human intervention over algorithms.

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Hi, i am Haider Jamal Abbasi and founder of iamhja.com. I start my blog journey in 2018 and i love writing on trending topics people love to read. Any Question? and Issue! Contact me
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