Zcash community divided over $550,000 adult industry outreach grant

Zcash has faced criticism from some cryptocurrency traders over a community grant supporting outreach at adult industry events, even as the organizers defend the program as a way to bring private payments to people who struggle with traditional banking services. Summary Zcash traders criticized the ZECsy team’s appearance at an adult entertainment convention, with one trader claiming to have increased his short position in ZEC. Zcash Community Grants approved the revised $550,000 outreach proposal in August, with funding authorized through the first nine monthly milestones. The program includes five adult industry events, four crypto conferences and eight workshops focused on private payments and Zcash adoption. ZECsy said 20 adult service providers publicly accepted ZEC as payment in September, while two small businesses had started accepting the cryptocurrency. The ZECsy grant application outlines a yearlong program led by Mylo Bennett that includes adult industry conventions, cryptocurrency conferences and educational workshops designed to introduce more people to Zcash. The controversy gained attention after Bennett shared photographs from the team’s booth at Exxxotica, an adul...