The impact of blockchain technology on transparency
DAN.COM was founded in 2014 and is concerned with solving the biggest problems in the domain industry. The platform makes transferring domains easier, safer and faster. According to Trustpilot, DAN.COM is rated as the best domain marketplace in the world and the fourth-best marketplace in general. Dan.com wished to face some of their key challenges: registration, settlement, and modification in shared ownership of internet domain names.
How does blockchain technology fit into this story?
A blockchain network has been set up to register and transfer the (shared) ownership of internet domains. The ownership transfer is linked to the financial settlement, which, in the future, will take place via a blockchain network.
What role did Unchain play?
Our contributions to the project were the following:
- the design of the blockchain solution;
- the development of the blockchain application (on Hyperledger Fabric);
- the integration of existing back-end and front-end systems of the customer based on the Unchain Blockchain Gateway;
- deployment of the solution in the IBM Cloud.
The added business value for Dan.com
What are the results: transparent and immutable registration and transfer of internet domain ownership. This functionality could have been developed with traditional (non-blockchain) technology. However, the total effort and cost would have been 2-3 times higher than without the use of blockchain technology.