SmartWeb Initiative To Start Blockchain Tokenisation Of Company Domain

KUALA LUMPUR, Feb 13 (Bernama) -- DigitalTown Inc, a provider of people-centric solutions for smart cities, has provided a condensed update on the status of the SmartWeb initiative and the start of blockchain tokenisation of the company's domain name portfolio.

The domains are .CITY, .LAW, .MENU, .BIBLE, .FASHION, .SHOP, .WEDDING, .WORK, and .BAYERN, .BOSTON, .LONDON, .MIAMI, .NRW.

"The new domain extension economy will benefit greatly from a unified architecture that both streamlines adoption by merchants and publishers, and also empowers consumers to engage with these services on a frictionless basis," said DigitalTown chief executive officer, Rob Monster.

"We believe that domain investors have greatly undervalued the potential of the new domain extensions to improve people's lives, while also empowering businesses to more effectively compete."

"As with the .CITY portals, for cases where a single domain investor does not acquire a domain, we foresee potential for local vertically-focused marketing cooperatives that are jointly owned through Blockchain, Denver.Law, Seattle.Fit, Chicago.Menu, Bali.Wedding, Miami.Work, etc," he said.

Meanwhile, DigitalTown's domain portfolios were acquired on exceptionally favourable terms due to combination of the size of the portfolio acquisitions, DigitalTown's operating plan, and strategic relationships with the registry operators. .

In May 2017, DigitalTown launched an initiative called SmartWeb to make an Internet that is more intuitive, personalised and secure through the use of the new descriptive domain name extensions.

Developed in cooperation with selected Internet Corporation for Assigned Names and Numbers accredited registries, each network of descriptive domain names is paired with an intuitive software platform.

Each platform is designed to support blockchain-based shared ownership and shared governance.

-- BERNAMA