Domain Industry, Let Us Innovate.
A couple of days ago we shared a significant announcement with a bold statement: The future of the domain industry lies in blockchain. We strongly believe that we can allow the primary and secondary market evolve and grow again. But we, the industry, have to get back to our roots and start delivering the value we are expected to deliver.
We hereby invite all industry leaders from both the primary & secondary market to join us in our endeavor. As a collective, we have a unique opportunity to mark a turning point in our industry. Emerging technologies are changing the web as we know it today. Make no mistake, disruption is on the horizon. We now have to choose if we want to be disrupted or to be the disruptor.
Introducing DAN (Domain Automation Network)
For both primary & secondary market players, domains are the anchor (⚓) involved in every single transaction conducted on your platform. Without an active domain in your customers account you cannot upsell services like Hosting & SSL for example.
All businesses in the market therefor are heavily dependant on facilitating transactions around domain names to keep the volume up, keep & gain new customers and accomplish growth objectives.
To process more transactions we simply have to normalize new type of flexible & time based transactions, simplify & automate our escrow processes, make secondary market domains more accessible (Unused Domain Pool) & affordable (domain lease, rental, crowdsourced domain purchases) in order to lift barriers preventing buyers and sellers to connect and transact.
Network integrators have full freedom in determining which features of DAN they integrate directly into their existing product. Integrators can put DAN to work via a simple API which makes the implementation of DAN merely a UI/UX challenge.
Initially, the goal is to automate all processes required to facilitate simple and complex domain transactions. Later, the Domain Automation Network can lead the path to existing technical inefficiencies by managing WHOIS and all changes to records on a public ledger. This introduces benefits like never having to cope with not accurate WHOIS information & domain theft. By using blockchain we can create an undisputed history of activity around domains and store all this to leave no room for inaccuracies.
The Unused Domain Pool (a component of DAN)
Currently, around 147,000,000 of the 334,000,000 registered domains are unused. Only about 25,000,000 of these domains names are actively offered for sale via marketplaces.
The Unused Domain Pool, which is an API based domain database allows primary market players to activate their idle domain inventory & secondary market players to drive their inventory liquidity up by opting for maximum exposure.
Check out our deck about the Unused Domain Pool (UDP) here
DAN is setup in a way that more components can be added to the network. The Unused Domain Pool and WHOIS are the first additional components that we’d like to attach to the network. Later down the road, when a strong foundation is set, we can take on other existing and future challenges that our industry faces. As a collective, we’ll be able to pool resources & attention to solve problems that we share as an industry and democratize the solutions.
Additional information for DAN network integrators
1. The inception of the Web Development Foundation
In order to introduce impactful change, we inherently designed our initiative to be open for all to use. That’s why we’re introducing the Domain Automation Network (DAN) from a non-profit foundation called the Web Development Foundation (WDF).
The Web Development Foundation is a non-profit incorporated in the Netherlands. The foundation will oversee all activities around the Domain Automation Network. The foundation will have a board that will be formed by initial network integrators and early supporters of the initiative.
Network integrators can already apply for a board seat and will be selected based on their impact on the network.
2. Funding the Domain Automation Network
EDIT: Due to lack of allignment within the domain industry and interest to innovate, Undeveloped has started the development of DAN solely self funded.
3. The Web Token Functionality
DAN can only be used by network integrators by paying a network fee. The only acceptable currency for network use will be the Web . Web tokens can be bought at a discount by verified network integrators from the Web Development Foundation.
It is our goal to make the Web token the normalized and standard payment option to purchase any web related services like domains, renewals, hosting, SSL and so on. Using a cross-platform crypto-currency allows instant and transaction fee free transactions across all integration partners. Unlike most cryptocurrencies, the Web token will have a utility case and merchants accepting the token as method from day one. Making the digital currency future proof.
Initial network integrators will get free Web tokens from the Foundation to provide incentives to their customers and increase the use of Web tokens among end-users.
4. DAN Network Integrator Development Fund
In order to incentivize existing industry players to actually commit and become a network integrator — interested integrators can apply for a subsidy provided by the Web Development Foundation. The direct expenses required to integrate DAN would be covered by the foundation to ensure adoption.
Update(28 March 2018): The development of our home-built unique blockchain is in progress and a big update will follow soon. Undeveloped is currently funding 100% of DAN with her own resources.
Thank you for your time,
CEO of Undeveloped