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Tim Draper Bets On Unstoppable Domain’s .Crypto Domain Registry To Replace Wallet Addresses (#GotBitcoin?)

Tim Draper-backed Unstoppable Domains has launched its new .crypto domain registry on the Ethereum blockchain. The registry allows users to connect any cryptocurrency address to their domain, enabling payments to be made using just the domain name, according to a press release published on Oct. 11. Tim Draper Bets On Unstoppable Domain’s .Crypto Domain Registry To Replace Wallet Addresses (#GotBitcoin?)

Alleviating The Need For Length Wallet Addresses

To make a payment, one only needs to know the blockchain domain. This alleviates the need for copying and pasting unwieldy cryptocurrency wallet addresses. Unstoppable Domains believes that this simplifying of cryptocurrency payments will lead to more widespread adoption.

CEO, Matthew Gould Stated:

“We believe that tribalism in the crypto community is slowing down adoption of the technology. .Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet.”

Multiple Benefits Of A .Crypto Domain

Aside from being used as a payment gateway, blockchain domains hold many benefits over their traditional counterparts.

A website hosted on a blockchain domain is stored by the owner. No third party can store or seize it, and thus, purportedly uncensorable by the authorities. Furthermore, the registry is not governed by or needs approval from the Internet Corporation for Assigned Names and Numbers, also known as ICANN.

The domain registration is for life and does not have to be renewed and domain ownership can be transferred without the need for an escrow agent.

As Cointelegraph reported in May, Tim Draper’s VC company Draper Associates was involved in a $4 million funding round for Unstoppable Domains earlier this year.

Use can use my referral link if you decide to experiment with their service.

Bitcoin Will End the Reign of ‘Dictators and Toll Trolls,’ Says Tim Draper

Billionaire investor Tim Draper has stated that he expects Bitcoin (BTC) — combined with other technologies — to change how governments operate worldwide.

In a Medium post published on Oct. 10, Draper calls Bitcoin “the startup currency” and praises its decentralization and borderless nature, saying he believes that BTC will bring the world together:

“With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”

Bitcoin Will End Tribalism

Draper also accuses those dismissing Bitcoin of clutching to tribalism, and reiterates the belief that “tribalism is dying.” He also compares the attempts to retain power to the roar of a falling king:

“Tribalism is dying. And like the dying roar of the king of the jungle, we are hearing political leaders beat their chests as they try to cling to the power they once wielded when the world was still only tribal.”

Draper also describes the idea of a global health insurance policy — that is more effective and efficient than current offerings — “where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.”

He also explains his vision of a pension that does not depend on the decision of political leaders, but instead “is simply a form of fixed smart contract.” Draper concludes:

“Bitcoin brought with it a few fundamental technologies that can accelerate our transformation from a tribal planet to a global one.”

As Cointelegraph reported on Sept. 30, billionaire technology investor Mark Cuban, on the other hand, said that he would be happier owning bananas rather than Bitcoin.

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