Fast Company published an article on blockchain domain names and cited a report from Microsoft on how they are not big fans of these domain names.
“The next big threat” is how Microsoft’s latest annual security report characterizes domain names written into a distributed ledger maintained across a constellation of computers instead of stored in a traditional, centralized registry.
Storing domain names on a blockchain can make them difficult to shut down or even trace to their owners. It also leaves them inaccessible without special software or settings.
In reply they got a quote from Unstoppable Domains CEO Matthew Gould:
Over email, Unstoppable Domains CEO Matthew Gould rejected the idea that his San Francisco-based company is an irresponsible actor. He noted the company’s trademark-compliance policies (its site would not let me start registering fastcompany.x, showing that domain as “protected”) and its measures to screen applicants.
“We have also prevented the registration of domains associated with known pirating software or other types of IP theft and fraud,” he wrote, adding that Unstoppable can even take back a domain if registrants park it with its custody service instead of transferring it to their own cryptocurrency wallet—the former option being an easier route that about 75% of registrants take today.
Gould also rejected the notion that blockchain domains were optimized for malware, countering that they would instead increase trust for cryptocurrency transactions.
It’s an interesting read with a few other commenters in the piece.
I have to admit that as an owner of a couple of domains purchased through Unstoppable I have yet to understand their full potential. After purchasing them a couple of months ago I have only just minted them (due to gas fees dropping next to zero) and need to work how I can host them. A lot to learn but as these are not my main it will not be the end of the world if it all falls over. I like the idea of a once-off purchase (no annual resubscriptions).
As for legality, transparency etc I am sure those not happy with these domains will find a way to stop them. We just have to change our mindset and realize that blockchains are changing the way things are being done. Microsoft are probably not happy that they didn’t think of this first 🙂
This just after Hillary Clinton stated that crypto can ‘destabilize nations’. Yes, that’s the point. No one centralized power anymore.