Donuts makes an investment in Netki.
Donuts has made its second investment under its Donuts Labs program.
Netki, Inc. is billed as a digital identity startup dedicated to democratizing digital currency. Just how does this relate to DNS? Here’s how Donuts explains it:
As a distributed database, the blockchain maintains a continuously growing list of data records. Blockchain-based applications, such as bitcoin wallets, utilize complicated, 32-character alphanumeric wallet addresses; Netki’s Wallet Name Service makes blockchain applications user-friendlier by generating easy to remember “wallet names.” Netki leverages “secure DNS” (known formally as domain name system security extensions, or DNSSEC) to map wallet names to blockchain-based public addresses. End-users can then safely share their wallet names in a way that improves security and privacy when compared to current practices.
In May, Donuts announced an investment in geofencing company GeoFrenzy.
I’m not surprised that Donuts invested in a blockchain company. When I interviewed Donuts COO Richard Tindal and CEO Paul Stahura in May, blockchain came up many times.
Yamada says
Nice, Blockchain keeps getting bigger everyday. 🙂
thelegendaryjp says
Risky, always open to one good security breach then trashed, I bet this model already exists unprofitable else where. Secondly are any of these profitable? Everyone is following Tesla, become non profitable yet worth billions and buy other things that don’t make money either but the guy is your cousin so why not its not your money any ways.
thelegendaryjp says
Just to add to it I see the way Donuts is looking at it, after all who will supply all these thousands of domains for wallets LOL Donuts failed to realize people who know bitcoin know we don’t like centralization, leaving funds in “wallets” or being tied to an identifying web address. Furthermore most holders are poor, yes poor and wont spend $1 to get a web address for a wallet. Add to it domain squats and its the wild west even with id verification. Very very very long term return on this one and so many hurdles and risks it would never be a buy option from someone who knows. I bet Netki pitched them how great the tech is and think of how many domains youll get to sell…LOL Maybe I am wrong, check back in 5-10 years if bitcoin is even a thing at that point.
Atta says
Good decision. Bitcoin price has increased almost 100% in last couple of months.