Copy link
Increase text size
Decrease text size
Link copied

Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC

Fri, 24 May 2019, 09:16 am UTC

Unstoppable Domains, a blockchain-based software company, announced on Thursday a $4 million Series A led by venture capital firm Draper Associates.

The San Francisco-based firm said that the funds will be used to create tools so anyone can make a website that cannot be taken down by government authorities, regulatory agencies, and traditional domain providers.

For global free speech to work, you need to be able to say what you want and you need to be able to operate a business you want,” Brad Kam, Unstoppable Domains co-founder told CoinDesk.

Boost VC, which previously led the firm’s $730,000 seed round last December, was the only other participant in the Series A funding.

Unstoppable Domains creates its own domain extensions which it sells to customers directly. It recently launched its extension .zil, preorders of which are now open.

The service, built on the Zilliqa blockchain, stores the blockchain domains in a user’s wallet, just like a cryptocurrency. It stores website content on InterPlanetary File System (IPFS) or other decentralized storage networks, which makes a takedown request impossible.

In addition, the domains can also be used to replace crypto addresses, allowing users to use a human-readable address to receive crypto payments.

Everyone needs a blockchain domain because it makes it easier to receive cryptocurrency,” Matthew Gould, Unstoppable Domains CEO, said as quoted by Yahoo! Finance.

The news followed the company's recent announcement to remove its renewal fees for blockchain domain purchases.

We are doing this because renewal fees are unnecessary on blockchains, thus they shouldn’t exist,” the company said on its press release.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $11,890.30 (+2.33%)
  • Ethereum (ETH) $396.93 (+1.94%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $303.75 (+1.95%)
  • Chainlink (LINK) $13.27 (-5.76%)
  • Bitcoin (BTC) $11,890.30 (+2.33%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft