DomRaider Looking to Revolutionize Auctions Through Blockchain

Imagine if Apple or Microsoft allowed their domain names to lapse. What would the value of domain names like those be for their respective companies?

The answer is nearly priceless.

Now, scale that back a bit and consider a smaller company with decent market share who accidentally lets their domain name slip. What would the value be for a domain like that? The answer is only available at auction.

DomRaider has built a very successful multi-national auction house for domain names that have expired or lapsed. The company searches the web for domain names that come available and then auctions those names to the highest bidder.

New platform

However, though possessing a full book of business already, the company is seeking to create a new auction platform based on Blockchain technology. This platform would bring together the auction world with the power of Blockchain technology to revolutionize how auctions are processed.

An auction platform like the one DomRaider is creating would have some significant improvements over legacy systems. For starters, the platform would be scalable, reliable and transparent.  

Blockchain technology provides a structure where bids and data would be impossible to falsify, thereby protecting users and users would be able to verify bids from any user instantly.

Second, DomRaider’s technology solution would allow for a worldwide auction platform where users would be able to communicate directly. This provides a far greater user base for auctions, and ensures simple and easy decision making and transaction processing at a fraction of the cost of other auction systems.

Finally, the solution would also provide a very fast and secure platform to process and immutably record bids and outcomes. The infrastructure, as it stands, can provide consensus of bids in less than one second.

ICO coming

While DomRaider is already a thriving multi-national corporation, the company has seen the need for a Blockchain solution in their auction market space. They are seeking to create the solution through a decentralized network of users focused on management of any auction in the world, whether physical or digital, in real-time.

DomRaider’s thriving existing business means that the company has a proven track record of success, as well as a viable and pre-developed digital product to market to others. These are the key points for investors to be certain they are investing in a viable business model.

The ICO starts Sept. 12 and will conclude with the issuance of the DRT digital token on Oct. 11.

Tristan Colombet, the company’s CEO, says to Cointelegraph:

“The DomRaider ICO combines two key factors for success: innovation of groundbreaking technology by Blockchain experts and the maturity of an already well-established company and an experienced team."

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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