Blockchain Startup Unstoppable Domains Raises $4 Million from Tim Draper’s Boost VC
In its bid to raise the awareness for free speech in the domain level, blockchain startup Unstoppable Domains announced on Thursday, May 23 that it has raised $4million through venture capital firm Draper Associates.
Boost VC, which spearheaded the firm’s seed round was the only other participant in the Series A.
Freedom of Speech
Highlighting the relevance of the new project and its usefulness to the business world, Unstoppable Domains co-founder Brad Kam in a recent chat with newsmen stated that:
‘’For the dream of global free speech to come to fruition, you need to be able to say what you want and you need to be able to run a business as it suits you’’.
Decentralization is key when it comes to Unstoppable Domain. The firm claim that since it is decentralized it cannot be taken down or censored by any government, regulatory agencies or traditional domain providers.
Domain registrars booting objectionable platforms came into limelight when GoDaddy removed social network Gab following the unfortunate shooting at Pittsburgh synagogue in October 2018.
‘’In the old world, GoDaddy is the custodian, in this world, you control the domain yourself and no one can take it from you’’ Kam continued.
When quizzed about the safety of the censorship-resistant websites, reminding him that it could be a haven for illegal content, Kim reiterated that bitcoin critics also said the same negative things about the flagship cryptocurrency back in the days. However, the reality is that the nefarious purposes are not the primary purposes.
Importantly, the firm has also made it clear that the users of the service have absolute control over their .zil domains which are kept in a wallet just the same way digital assets are stored.
The service is powered by the Zilliqa blockchain network and the site content is stored using the InterPlanetary File System (IPFS) or other decentralized methods. Additionally, the .zil domains also functions as human readable addresses that can accept a vast array of cryptocurrency payments.
Unstoppable is poised to solve the one of the largest crypto UI problems by creating human-readable addresses and providing users with the necessary tools to create uncensorable websites.
Also commenting on the matter, Boost VC partner, Brayton Williams stated that in the near future, mos firms will have their unique blockchain domains for storing sensitive info and receiving payments, just the same way most companies now have websites.
Kam is of the opinion that the firm has a lot to offer in the future, although .zil is the one available for now.
At current, the company’s website offer regular domains for just $10, while the premium domains goes for as much as $250, though Kam declined revealing the total number of users the platform currently has.
Bitcoin Exchange Guide reported in April that the cryptocurrency community is worried about censorship in the cryptospace, and how it’s limiting the full potential of the digital currency.
Although there are lots of concepts and ideas in the crypto space and how best to improve the thriving crypto community, however incessant censorship and other regulatory procedure might limit the potential of the coin and only suit the need of some privileged few.