Some challenges arising out of human-meaningful names that any registry of names needs to tackle:
- Inclusivity for future generations. Early adopters should not crowd out late adopters of all the desirable names
- Community ownership or geographical indications or false advertising (eg: DarjeelingTea.com should only be owned collectively by farmers in that particular region)
- Prevention of abuse or trademark violations (eg: Nestly should be able to sue and win the case on merit against somebody who registers nestlekillsbabies.com)
"nestlekillsbabies.com" wouldn't be a trademark violation. If anything, it'd be libel, but the defense there would be either a) truth or b) protected opinion.
> How do you deal with domain squatting or trademark violation?
In practice, it rarely works. Only big corporations have money to actually sue and win these cases. They usually prefer to pay however.
Same with regards to other reasons people give for lack of adoption of crypto alternative.
For example, lack of reversal and dispute handling is cited as the major reason why crypto currency isn't used for payments. That's just not true.
UPI in India does not have ability to reverse transactions either. So does not countless p2p payment systems. UPI alone processes billions of transactions weekly.
I think all these high level concerns aren't the reason for lack of adoption. They might indicate lack of corporate adoption but at the core level, I would think lack of a widely used consumer DNS like 8.8.8.8 and 1.1.1.1 is a bigger hurdle. Both of them won't resolve ENS and any other crypto based alternative.
Your average person is never going to run their own local DNS resolution node and switch it in their browsers.
In iOT and smart devices like TV, DNS is often hard coded so impossible to change.
> UPI in India does not have ability to reverse transactions either. So does not countless p2p payment systems. UPI alone processes billions of transactions weekly.
There's very limited area where banks can refund the transaction where they are at fault. It is not reversal.
For reversing, they have to contact the receiving bank and person to send back the money which in case of scam is low. You can do that with crypto too. Contact the person and ask them to send the money back.
You also need police report and the sum has to be big enough for them to bother.
> There's very limited area where banks can refund the transaction where they are at fault. It is not reversal.
If we're talking in general, no, banks can revert transactions when you pay for something and that turns out to be a scam, or goods/services are not delivered.
I don't know how it works in the case of P2P transactions, but I expect many of the protections to still apply.
> For reversing, they have to contact the receiving bank and person to send back the money
> You can do that with crypto too. Contact the person
There's a big difference between a bank contacting another bank to revert an incorrect or frauduent transaction, and trying to contact a stranger to send your money back.
> You also need police report and the sum has to be big enough for them to bother.
Compare this to crypto where if your money's gone, your money's gone, regardless of the sum or the intent.
You can ask bank to reverse card transaction and certain form of transfers but for UPI, there is no automatic reversal. Your bank needs to contact other bank after receiving police report to freeze the account and then sort it out. The scammer will take out the money before that or move it.
It is not reversal and it is not an option in practice unless the amount is very big which is rare for P2P. There is an upper limit on transactions enforced on UPI.
The point still stands that reversal is not a significant problem for adoption when it's such as an edge case. UPI added dispute handling standard process only after it was processing more than billions of transactions monthly.
There is something else holding crypto back from being used for payments.
The current system does this well because of identity and web3 doesn't have any answer to this.
Also I can host my own DNS server with my own domain name all decentralised without crypto scamming.