Company leverages blockchain technology to speed domain purchases and transfers.
Domain name sales platform Undeveloped has rebranded as DAN.com and introduced a new blockchain-based domain transfer system.
The new transfer system is aided by DAN bot, which is short for Domain Automation Network. The conversation-based transfer concierge manages the escrow based on where the domain is registered and the unique characteristics of that registrar:
The moment you purchase a domain, the DAN bot knows exactly at which registrar the domain is registered, if the domain is locked and which transfer options are available per registrar.
We have designed DAN in such a way that DAN even knows what the good and less well-designed processes of the managing registrar are.
By doing this, you, the buyer will always receive transfer instructions that are tailored for your transaction which saves a lot of time and frustration. Anyone without any domain expertise can now benefit from a painless, smooth and swift transaction.
According to DAN.com, unlocked domains can be transferred in 5-15 minutes, or instantaneously if they are in the DAN network.
DAN.com worked with IBM to build its blockchain. Anyone can see the blockchain and view recent transactions and sales at explorer.dan.com.
The company says its new platform will enable faster transfers and better liquidity. It will open it to other people who want to build a service and tap into its transfer and escrow services.
It should also make domain leasing and fractional domain ownership easier. DAN.com has plans for fractional ownership that it will release later this year.
The company bought the Dan.com domain name last year for $190,000.