The world of auctions can be extremely tedious, no matter how they’re managed. With all of the complex moving analysis that must be accounted for, auction houses are forced to seek new ways to properly manage them.
The sensitivity of timing bids for digital or physical bidders and the entry barrier for participants wishing to bid, as well as the cumbersome centralized platforms being used are all issues facing the auction world right now.
Bidders want certainty that bids are received correctly and logged immediately so that they aren’t forced to pay more for a product than they must. Consumers also want to be able to bid on the products they want to without have to seek a centralized management approval.
DomRaider‘s stable auction platform for domain URLs that have expired is already an internationally recognized platform. The company actively seeks for lapsed domain names using proprietary software, looking for URLs that are available for purchase and then auctions those URLs to bidders.
Blockchain tools for tomorrow
Though having a thriving present business, DomRaider is hoping to create a new system underpinned by Blockchain technology and the decentralized power that comes from it.
This platform would combine the current auction world that buyers have become accustomed to with the decentralized control and freedom of Blockchain technology. In this way the company is revolutionizing how auctions are undertaken and concluded.
DomRaider’s platform would provide profound global improvements over traditional auction systems, mainly because the DomRaider model would provide easy scaling, be fully reliable, and be transparent for active customers.
Blockchain technology requires data to be strictly controlled, both in timing of when a bid is received, as well as the amount. This platform would guard consumers privacy while at the same time provide a vehicle for users to be able to see and compare bids from other users instantaneously.
Additionally, consumers could communicate directly with each other and with the auctioneer through the DomRaider solution, opening a more transparent and fluid user base for auctions. This ensures rapid decisions and near-immediate transaction posting, yet costing the consumer, both buyer and seller, a mere fraction of the cost of legacy auction houses. CEO Tristan Colombet mentioned to Cointelegraph:
“The DomRaider ICO combines two key factors for success: innovation of groundbreaking technology by Blockchain experts and the maturity of an already well-established company and an experienced team.”
Above all, though, the platform would build a fast and secure engine to immutably place bids and record final outcomes. The system, as it stands in its current phase, can create consensus of bids in under one second.
Starting near the front
DomRaider is already a strong and substantial international corporation. However, they have seen the market space for a true Blockchain technology platform. The company is pursuing this platform through distributed platform methodology, built to allow control of any auction, anywhere on the planet, whether physical or digital, in real-time.
DomRaider’s existing business translates into investor confidnece. The company has a track record of proven success, and a business model, as well as an already developed platform to take to the market. With these services in place, the ICO will certainly be a resounding success.
The ICO kicks off Sept. 12 and will conclude with the issuance of the DRT digital token on Oct. 11.