SPACE ID 3.0 | The Development Ability of Domain Name Service in Vietnam and SE Asia Market
Before going into the article and analysis. to prove what I’m about to say and show to readers the long history between me and Bitcoin. I made a transaction on my old wallet address at Blockchain.Info. The first (TX) transaction of this wallet address was from 2014, Total transaction volume was 48 BTC and after 5 years since the last TX in 2018, this wallet address has reappeared. I just sent a few Cents to the BTC address on my Trust Wallet to prove I am the owner of this wallet address, with no intention of revealing my account balance or the number of Tokens that I currently holding.
Address explorer: https://www.blockchain.com/explorer/addresses/btc/1PZVLptDoLHjm3KVMgBDTJJrgzh1eCcaeF
The funny thing is that even though I’ve been doing this TX for a day, it’s still pending. That’s why I switched to using BSC Chain because it has cheap gas Fees as well as fast transaction processing speed.
Vietnam — Asia’s Next Rising Dragon
The four Asian dragons or four Asian tigers are the four developed economies in East Asia, including South Korea, Taiwan, Singapore and Vietnam. These economies experienced rapid industrialization while maintaining exceptionally high growth rates in the years from the 1960s to the early 21st century.
With GDP per capita increasing every year and having the advantage of a large population (about 100 Million people in 2023). According to data on the Global Cryptocurrency Acceptance Index (GCAI) compiled by Chainalysis from 154 countries and territories, Vietnam ranks first with a perfect score of 1. This is the second year Chainalysis has made statistics. This. Chainalysis is a blockchain platform founded in 2014 in the US. The company provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in more than 60 countries.
Vietnam is an ideal destination and investment place for Blockchain projects (Kyber Network, Axie Infinity, Coin98 Finance..) as well as there are many Venture Capital funds in this country. This is a potential and fertile market, which is why there are many Offline events held in three major cities of Hanoi, Da Nang and Ho Chi Minh recently.
As a developing country and with a young population, Crypto has become one of the preferred channels for investors to get rich. High risk, but comes with big return is the favorite of young investors. Vietnam’s crypto map has appeared many unicorn projects and is currently in the “right time, right location” phase to transform and develop into a blockchain center in the world if we know how to seize the opportunity.
Domain Name Service and development potential
With more than 16.6 million people owning cryptocurrencies of all kinds. The annual value of digital asset transactions in Vietnam is up to 112.6 billion USD, higher than Singapore with 101 billion USD. The majority of Crypto holders are very young, aged 16–35, with great ambition and ambition to get rich as well as the desire to assert themselves and express their personal identity. They use Crypto to pay, Trade, send and receive money every day, so Domain Name is a very necessary thing. Instead of having to Copy-Paste a long string of numbers and no one can remember, this can also be simpler when Scan QR Code but it is still quite inconvenient. Now just use a domain name such as ThomasWu.bnb , Web3DailyReal.bnb and you can send and receive conveniently. It is so easy and convenient, the potential of Domain Name does not stop there but it can also be used as a Nickname to register Gamefis. Further, I heard Mr. Solo.bnb-Head of Business Development of SPACE ID say that in the future Domain Name can be integrated into both Telegram and Twitter.
Campaign “Northern Star”
The reason for its name is because the North Star is the brightest star in the night sky and it always guides the lost to find their way home.
SPACE ID is the only project that I am supporting and devoting my time and energy to, I believe that SID Team is making a revolution in wallet addresses. In the future, whoever you are, you will have at least one Domain Name not only to send and receive money, but also to represent your identity on Web3. And through the Domain Name when people look at it, they can know which coin or project you are supporting. For example, when you look at my name ThomasWu.bnb, you know which is the largest and most reputable exchange that I am trading every day.
From the beginning of the month I started organizing AMAs and contacting the KOLs here. I invite them to join the AMA, talk about the benefits of using a domain name and gift them an Domain Name ( .bnb or .arb and future will be .sei or .inj ) They will post about it, it will help us marketing and bringing the domain name to more users.
Currently, KOLs are very fomo on the .bnb domain name because when searching for it on BSC Scan, they will find their wallet address, check the number of tokens as well as the NFTs in owning. Currently, there are 2 major exchanges that have integrated with SPACE ID and you can withdraw using domain names, Huobi and Phemex. In the future, SPACE ID will certainly be integrated into Binance.
Oppotunity and challenge
90% of the success of this project depends on the SID Team & Developers. While they do important work with major integration partners, we are-Contributors and Ambassadors like me will help grow the community, make content and Marketing Domain Name Service to as many Users as possible. You can follow the SPACE ID Fanpage that I running at: https://www.facebook.com/SPACEIDVN/
The reason I am building a Facebook and Youtube page is because I intend to LiveStream and do Video content, it is more accessible and attractive to viewers. Making Videos will help viewers enjoy and understand more about Domain Name Service. That’s not to mention 99% of Users in Vietnam and Southeast Asia use Facebook. Very few Users use Twitter and it is only for work. If we want to attract new users in both Web3 and Web2 we need to do this well, I think so.
With over 16.6 million people owning Crypto. Just half of them using domain names can bring us tens of millions of dollars a year in profit. When I see the benefits in using Domain Name instead of old-fashioned wallet addresses, when I create a Huge enough wave, I believe that everyone is not only in Vietnam but also in Southeast Asia and spread globally. Everyone will use Doman Name Service from SPACE ID!
With such a large number of Users it will solve all the problems we are facing such as helping to increase the price of domain names in 999 Clubs, Domain Name Market will become more energetic, ID tokens will increase in price and can reach a market capitalization of 1 Billion dollars. To do that, the SID Team and us are working hard every day, helping to develop the project as well as the ecosystem. SPACE ID 3.0 will be a new breakthrough, establishing a popular name service that surpasses the Web3 community. SPACE ID successfully launched the .bnb Name Service, brought the .arb Name Service into the ecosystem and co-launched the .sei Name Service with Sei Network not too long ago. However, we firmly believe that each community should own their own custom TLD-Top Level Domain, giving them full control over their domain namespace and building their user base. loyal users by providing community members with unique brand identities. I believe in the near future we will see TLDs for projects here eg Thomas.C98 or Thomas.Axs this is awesome.
To do this we need to work harder and harder, I believe we are making a revolution in wallet addresses and in the future SPACE ID will be the largest domain name provider. Go beyond both ENS and Unstoppable Domains. I have a few ideas about Domain Name Service for memes, and I’ll talk about it in future articles. See you guys again!
“You have to start somewhere to get anywhere”
About SPACE ID
SPACE ID is building a universal name service network with a one-stop identity platform to discover, register, trade, manage web3 domains. It also includes a Web3 Name SDK & API for developers across blockchains and provides a multi-chain name service for everyone to easily build and create a web3 identity.
