Playboy sues cryptocurrency platform BLOC: Report

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• Playboy’s parent company Playboy Enterprises is suing a
  Canadian based cryptocurrency company called Global Blockchain
  Technologies (BLOC) alleging fraud and breach of contract, the
  Los Angeles Times reports.
• In May, BLOC announced a partnership with Playboy’s
  media platform. 
• The reported lawsuit alleges that BLOC failed to live
  up to its end of the bargain. 

Playboy Enterprises is suing  Global Blockchain Technologies
(BLOC) alleging that it failed to uphold an agreement to
incorporate its technology into Playboy’s media platforms,

the Los Angeles Times reports. 

In May, the Canadian-based cryptocurrency firm
announced an upcoming partnership with Playboy Magazine’s
parent company, Playboy Enterprises.

BLOC said that it had plans to integrate a token called Vice Industry Token into Playboy
TV’s platform so that users could get paid in cryptocurrency to
watch adult entertainment and pay for content in digital
currency.

But according to the LA Times report, Playboy Enterprises is
alleging that BLOC failed to live up to its end of the contract.
Now, the Beverly-Hill based adult entertainment site is alleging
that in the three months since the deal was made, BLOC has yet to
integrate its tech into Playboy’s platform, and that it also
hasn’t paid the $4 million it promised to Playboy as a part of
the deal. 

While neither BLOC nor Playboy Enterprises immediately responded
to Business Insider’s request for comment, BLOC told the LA Times
that the charges of fraud were “frivolous” and that the
disagreement between the two parties was a “normal dispute.”