New domain names are being launched on Internet lately that resemble the short name of the blockchain. It started off with the Ethereum Name Service, also known as ENS, that connected websites with Ethereum wallets.
Now new blockchain wallet name services are being offered on other chains too. Recently Solana and now Bitcoin cash name service is in motion to offer decentralized wallets through domain names. There are many other use cases of having such domain names with wallets attached to them.
So why do they have use case in future? And what they mean in the decentralized Internet? What could they possibly offer to the consumers?
Here are some of the benefits of these domain name services.
Sanction Proof Identity
SWIFT and the western imperialist lobby have managed to isolate Russia and have given a sign to the rest of the world on how they can defame any country for their agenda and sanction them to isolation.
By having the domain names that connect with the wallet. You are shielded from the geo IP isolation. You can continue to do business with people around the world. You can easily bypass many sanctions that US and allies can put on individuals, nations etc.
Trackable Wallet
Do you have a non profit organization for which you collect funds? Having the crypto domain name would help you have a wallet that can track the funds movement. This would also help with transparency to see how much funds are collected and where they are moved.
This is handy for many local, international funds wallets where you want to have transparency. You can also have that for various cause and other non profit activities and the places where transparency is required.
Cashflow Circulation
The SWIFT handicapped previous us and now we have crypto which makes movement of money easier. We can continue doing the same through domain names and crypto wallets through such addresses.
You can use QR codes and the domain names to accept the money from anyone who wants to trade in that crypto. This is especially useful when it comes to the cashflow movement in places where local currency is under sanction. So this is a good thing for cashflow circulation.
What do you think?
This is just my view on how the crypto name services would help people with the accepting money online and for having branded wallets under their domain name.
How do you see the use case for the domain name service? What's your opinion on such domain name service like this?
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Hey, I think I've seen your main picture somewhere. Aren't you in noise as well ?
Yes. I am on noise.cash too :)
Decentralization is the way. That is one of the reason why I support DAOs a lot: a decentralized organization, with no compulsory company behind.
This is one of the dark sides of decentralization. Mass murdering kleptocrats who run a country can circumvent just sanctions using decentralized technology. Decentralization has its positive use cases but this is not one of them.
The Russian economy must be crushed so as to render that country incapable of prosecuting any further wars. Russia is a nuclear-armed terrorist state and a serious threat to world peace. It is currently lead by a man whose powers of judgement are questionable.
It's too bad Russian civilians, maybe a third of whom do not support this war have to suffer from the sanctions but what the Ukrainians are going under is a THOUSAND TIMES WORSE.