news Undeveloped adopts blockchain and will release tokens

That's a good one from undeveloped.com

Not sure if I should be ashamed to admit this but I dont know what blockchain is.

same platform bitcoins use - peer to peer coin/token exchange

This only works if buyer and seller keep name on Undeveloped.com, so it looks like they'll become a registrar soon. Until whois move to blockchain at the registry/registrar level were not going to have a real sales platform driven by blockchain. This is really just a tease, but good luck to undeveloped all the same.

UniflexDomains said:

Not sure if I should be ashamed to admit this but I dont know what blockchain is.

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Which rock have you been living under, sir?

oh brother.. everyone wants money; everywhere a ICO - eieio

smh

Mastercard Will Now Let You Pay With Blockchain—But Not Bitcoin
http://fortune.com/2017/10/20/mastercard-blockchain-bitcoin/


( From two years ago! : )
11 Money Transfer Companies Using Blockchain Technology
https://letstalkpayments.com/11-money-transfer-companies-using-blockchain-technology-2/

Brandworthy said:

This only works if buyer and seller keep name on Undeveloped.com, so it looks like they'll become a registrar soon. Until whois move to blockchain at the registry/registrar level were not going to have a real sales platform driven by blockchain. This is really just a tease, but good luck to undeveloped all the same.

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Hi Brandworthy,

At start, not all domains listed at Undeveloped will be eligible for the automated escrow program. I'm sure some registrars will keep their customer lock-ins into place and block instant transfers. When that happens, sellers should simply consider if they'd like to stay with actors in the market that implement this type of lock-ins.

All domains listed at Undeveloped with the following criteria should be able to benefit from the feature:

1: All domains registered with Undeveloped

2: ccTLD's that don't have 60 day transfer locks (in most ccTLD's you can transfer a domain multiple times in a day without any issues)

3: Domains not registered with us but with open whois

4: Domains not registered with us, with private whois enabled and Undeveloped's escrow email address used in the admin-c contact details

5: Domains not registered with us that use our own private whois setup

As long as the verification processes required to facilitate these transactions are all organized by using checks stored in a public blockchain ledger, we can make it happen.

Automating the transaction engine at Undeveloped goes beyond providing instant escrow for sales only. The most interesting use case will be for the more complex deals that you might want to set up.

Kind regards,
Reza

Jason.tv said:

oh brother.. everyone wants money; everywhere a ICO - eieio

smh

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Our token sale is the least interesting part of our announcement. You can read our full announcement here: https://blog.undeveloped.com/the-future-of-the-domain-industry-lies-in-blockchain-673fb2137f16

Developing the roadmap items we're planning to execute, requires a heavy investment. Instead of going into the VC route where future wealth creation goes to a handful of individuals, we're more interested to share the successes with our users. Check out our blog post about this subject.

You see more and more other legitimate high-tech companies like Kik launching their own cryptocurrency and doing for a token sale instead of going in the VC route: https://techcrunch.com/2017/06/20/kik-ceo-claims-an-ico-is-better-than-venture-fundraising/

I think Undeveloped has a unique position in the market. A strong foundation is already set. We now need to execute our strategy effectively so the Web token, which is our centerpiece, will find its way into becoming one of the cryptocurrencies with a real function.

Most cryptocurrencies out there today don’t have a commercial side. That's a weakness for the long term when the speculation bubble will burst. Just like when the dot-com boom happened. The better companies survived back then, same will happen in the crypto world. We aim to make the Web token one of the better currencies out there that won’t be impacted only solely by speculation.

To close, the blockchain is very real and any marketplace out there should adopt now or be made insignificant by new entrants. The Next Web published a nice article that's relevant 5 days ago: https://thenextweb.com/full-stack/2...e-blockchain-in-less-than-10-years-heres-how/

Take care,

Reza

Thanks for the follow-up. Can you clarify the following please:

Undeveloped said:

All domains listed at Undeveloped with the following criteria should be able to benefit from the feature:

1: All domains registered with Undeveloped

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Does this include domains which are transferred to a new registrar as part of the sale?

Undeveloped said:

2: ccTLD's that don't have 60 day transfer locks (in most ccTLD's you can transfer a domain multiple times in a day without any issues)

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You'll probably know your own stats - what's the ratio of ccTLD to gTLD sales?

Undeveloped said:

3: Domains not registered with us but with open whois

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How will this work if the buyer moves name behind privacy? This is the main issue I try to highlight above - unless you can programmatically confirm the new owner how can this work?

Undeveloped said:

4: Domains not registered with us, with private whois enabled and Undeveloped's escrow email address used in the admin-c contact details

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Again, what happens if name is transferred behind privacy at a new registrar? The contacts may not be validated after transfer.

Undeveloped said:

5: Domains not registered with us that use our own private whois setup

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Same question - how can you validate if domain moves to new registrar?

Undeveloped said:

As long as the verification processes required to facilitate these transactions are all organized by using checks stored in a public blockchain ledger, we can make it happen.

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How can you verify the new registrant if they use privacy? In fact how can you verify that the new registrant is the same entity as the buyer even if WHOIS is public?

I honestly love the direction you're going (not so much the token - no need for it), bit I cant see how Blockchain can help unless domain ownership verification can be automated?

Thanks in advance!

Undeveloped said:

5: Domains not registered with us that use our own private whois setup

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Hi Reza,

Would that type of verification be similar to Sedo's (for example) domain owner verification by adding text records (or changing Cname records) ?

Thanks

Hi Brandsworthy,

Here you:

Q: Does this include domains which are transferred to a new registrar as part of the sale?
A: Yes, as managing registrar we can instantly release domains to other registrars

Q: You'll probably know your own stats - what's the ratio of ccTLD to gTLD sales?
A: At Undeveloped about 40% ccTLD / 60% gTLD

Q: How will this work if the buyer moves name behind privacy? This is the main issue I try to highlight above - unless you can programmatically confirm the new owner how can this work?
A: I now see the point you're trying to make. It's a valid one. Let me address it in a bit of a broader way:

Undeveloped is the only domain marketplace (that I know of), which offers its own internal escrow service + will be a domain registrar. This unique combination allows us to verify domain receipt from the seller by always positioning our registrar in between of a transfer for specific TLD's in which this will be required. As long as all changes necessary go via our process we can keep track of the process without any delay (human verification).

This is how a transaction flow would look like:

1: Undeveloped secures the payment from the buyer
2: Ownership of the seller is verified via WHOIS + Auth Code
3: Domain transfer to our escrow registrar is initiated
4: Once the domain is secured at Undeveloped's escrow registrar the seller is paid out automatically
5: The domain holder details are updated by us to reflect the detail of the buyer (publicly or behind privacy whois)
6: The buyer gains control over the domain

In some cases, we can implement the API's of the bigger registrars to skip step 3 as we can perform a domain push instead. But the general note here is that you don't per se need an escrow agent in between of this process to guide it. You can initiate and verify each step automatically.

I hope that clarifies it a bit.

Kind regards,
Reza

namelancer said:

Hi Reza,

Would that type of verification be similar to Sedo's (for example) domain owner verification by adding text records (or changing Cname records) ?

Thanks

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Hi Namelancer,

Not exactly. The most important ownership verification of the seller in these transactions would happen at the moment the domain transfer step is initiated. If the seller can provide us the auth code of a domain for example, this would be enough verification that that person has access to the domain and can represent the sale.

Kind regards,
Reza

Most people don't know or care what a Blockchain is.

UniflexDomains said:

Not sure if I should be ashamed to admit this I dont know what blockchain is.

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Don't BS Reza.You are totally aware Epik offers escrow + registrar. You almost merged with them.

Undeveloped said:

Undeveloped is the only domain marketplace (that I know of), which offers its own internal escrow service + will be a domain registrar.

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Adam27 said:

Most people don't know or care what a Blockchain is.



Don't BS Reza.You are totally aware Epik offers escrow + registrar. You almost merged with them.

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Take it easy Adam. To be honest, I don't see Epik primarily as a marketplace. There are more registrars that opened a marketplace on the side. Same goes for Uniregistry. Primarily Uniregistry is a registry + registrar with a marketplace attached to the primary business. However, Uniregistry doesn't provide her own in-house escrow but outsources that.

Undeveloped said:

1: Undeveloped secures the payment from the buyer
2: Ownership of the seller is verified via WHOIS + Auth Code
3: Domain transfer to our escrow registrar is initiated
4: Once the domain is secured at Undeveloped's escrow registrar the seller is paid out automatically
5: The domain holder details are updated by us to reflect the detail of the buyer (publicly or behind privacy whois)
6: The buyer gains control over the domain

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In the case of gTLD, which implements 60-day locks, this would lock the buyer into your registrar correct?

I can see how this works, and while what you're proposing suffices for this process to be fully automated, it really doesn't require any blockchain, nor does it benefit significantly from blockchain technology. What's really required in domain marketplaces is the removal of middlemen, not the addition of a new one IMO. I do appreciate the direction you're moving towards, but I think it's disingenuous to position this as anything approaching evolutionary or something that will benefit from blockchain. Will be interested to watch as this progresses however.

Brandworthy said:

In the case of gTLD, which implements 60-day locks, this would lock the buyer into your registrar correct?

I can see how this works, and while what you're proposing suffices for this process to be fully automated, it really doesn't require any blockchain, nor does it benefit significantly from blockchain technology. What's really required in domain marketplaces is the removal of middlemen, not the addition of a new one IMO. I do appreciate the direction you're moving towards, but I think it's disingenuous to position this as anything approaching evolutionary or something that will benefit from blockchain. Will be interested to watch as this progresses,however.

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Using blockchain for specific functions of the market has its advantages. Especially when transactions get more complex and you involve multiple buyers or sellers (fractional ownership) and time-sensitiveness (flexible domain use) starts playing a role. Having the contracts of these agreements automatically created and hosted on the ledger and validation that a transaction was initiated and/or concluded successfully without anyone involved makes these new transaction models scale.

Taking out the middleman doesn't per se mean that you don't need a marketplace that connects buyers and sellers anymore. A marketplace like Undeveloped contributes in creating a more liquid and efficient market. Otherwise, you'd end up with having to build your own product & technology to accomplish the same results. Unless you want to only sell your domains directly via whois inquiries only. I'm pretty sure that won't yield the same results. And even then you'd need a third party to facilitate escrow between you and the buyer. Using an escrow provider that focuses solely on domains, offers a more tailored service and allows you to focus on what you do best and leave the rest of the work to us.

Yes, as I wrote before

https://www.namepros.com/threads/es...ting-buyer-to-pay.1042069/page-2#post-6363825

Blockchain is an irreversible method of payment, or it may be used to transfer most anything intangible, photos, information, etc. In that respect in that it is irreversible it may work as a method of payment into an escrow, but it cannot function as an escrow per se because it cannot be "held up" (reversed), except with a reverse identical transaction.

In other words, yes it may help in situations like this to create absolute trust in forms of payment, but still a sort of escrow will be needed.

I believe that so long as things don't become more complicated for the buyers or sellers - that it may help Undeveloped automate some of their processes and add more functionality. Blockchain technology has a lot of capabilities that are not really being utilized yet. . I believe they are looking more towards the future - and trying to be ahead of the curve and innovative.

The Undeveloped coin aspect itself, it's value and viability - I can not speak to as it is definitely outside of my realm.

IMO - It will all come down to implementation and execution which none of us can speak to until it is unveiled.

Very interested to see how this transpires...

It sounds very, very ambitious. It will certainly be interesting to follow and be a part of. At least @Undeveloped are innovative unlike the people over at Sedo who seem to have been in a coma the last ten years.

What I like about SEDO is that you may post comments on the counteroffers. There's really nothing wrong with the way SEDO works for selling domains as far as I am concerned. DomainAgents allows the comments too.

I'd like to see that posting comments during ongoing negotiations ability implemented at Afternic.

I get offers and pricing inquiries all the time at SEDO, DomainAgents and Afternic, and all I have done with them is upload my domain list. Supposedly at Undeveloped absent my using their landing pages I will get no meaningful exposure,
https://www.namepros.com/threads/undeveloped-com-experience.893201/page-9#post-6377601
so as far as exposure, I have nothing to say against SEDO, DomainAgents and Afternic have sold at all three.

xynames said:

What I like about SEDO is that you may post comments on the counteroffers. There's really nothing wrong with the way SEDO works for selling domains as far as I am concerned. DomainAgents allows the comments too.

I'd like to see that posting comments during ongoing negotiations ability implemented at Afternic.

I get offers and pricing inquiries all the time at SEDO, DomainAgents and Afternic, and all I have done with them is upload my domain list. Supposedly at Undeveloped absent my using their landing pages I will get no meaningful exposure,
https://www.namepros.com/threads/undeveloped-com-experience.893201/page-9#post-6377601
so as far as exposure, I have nothing to say against SEDO, DomainAgents and Afternic have sold at all three.

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It's not that Sedo are bad as such, but they haven't evolved much. They don't even offer a purely for sale landing page years after parking revenue went downhill.

xynames said:

I get offers and pricing inquiries all the time at SEDO, DomainAgents and Afternic, and all I have done with them is upload my domain list. Supposedly at Undeveloped absent my using their landing pages I will get no meaningful exposure.

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The benefit to Undeveloped is their landing page. I do not use them for their "marketplace"

I still list at other marketplaces to achieve that goal, and have a much more Clean, Professional lander using Undeveloped. They work in unison, not against each other.

IMO...

Michael M said:

The benefit to Undeveloped is their landing page. I do not use them for their "marketplace"

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Agreed...their (UnD) landing page is clean and neat. Epik is my choice for marketplace (seamless transaction).

However, I am looking forward to seeing how the new additions at UnD work out. It is to our benefit to have multiple players on the same stage.

Landing page(s) with customizable content for the domainer to present his/her own marketing touch is the key to the future success of those of us spending hundreds, thousands and in some cases, tens of thousands of dollars a year to maintain product.

btw...the decrease in commission at UnD will prompt me to list more names with them. Paying over 10% to any entity to 'list' names for sale is insane.