Interoperability within Web3 domains has become a top priority for the cross-chain alliance of leading Web3 and blockchain players, which was announced at the Web Summit in Lisbon on Nov. 2.
Cointelegraph was informed by Sandy Carter, Unstoppable Domains senior vice president and channel chief, that the group will collaborate to secure the Web3 naming space.
“There is no ICANN [Internet Corporation for Assigned Names and Numbers] for Web3. We don’t believe there should be. We believe there should be some form of self-regulation in line with the spirit and ethos Web3. That group should exist, so that people can discuss the issues. This is the group we just announced today.
This alliance is designed to stop malicious phishing attacks and bad actors impersonating Web3 top-level domains, cybersquatting, and Web3 domain collisions. Tezos Domains and Bonfida are also participants. Carter stated, “We invited all the naming services to join our group.”
Unstoppable Domains joined the Open Metaverse Alliance as a result of the self-regulatory agenda. This group of metaverses and Web3 platforms based on blockchain have been working since July to overcome interoperability issues in their industry, specifically digital identity standards and avatar standards across metaverses.
Carter stated, “We joined that as we believe that we should have self-regulating boards. We think that more will come up so it can be selfregulating versus force regulation by a central organization.”
Carter describes himself as an evangelist, who educates people on the value proposition of data ownership. Carter believes that the relationship between users, digital privacy, and future generations will dramatically change. Education about data ownership is still a major challenge. Carter stated:
“People understanding the value prop is the biggest challenge today. People often say that I am an educator. I tell them that I am an educator. I’m also an evangelist who explains the value prop and why they are so important. It’s because so many people don’t know what it is today.
Carter predicts that decentralized websites and metaverse avatars will become more popular as data ownership becomes more mainstream. She went on:
“I was speaking to small businesses when one woman spoke up. She said that her website had been taken down for 30 consecutive days. She could not get anyone to explain why. […] Then, 30 days later, it came back up but she had lost 30 days of online sales. […] This was a perfect use-case. You won’t lose your website if it is decentralized. There are no people to take it down. It’s your website.
Unstoppable Domains raised $65million in a Series-A funding round this year. This was due to the NFT boom as well as the rise of digital identity profiles. Unstoppable’s competitor, Ethereum Naming Service, also saw a surge of demand , with almost 2 million domain registrations in August.