This article will explain the array of benefits of DomRaider on the Auction Market.
Online purchases and online marketplaces face huge problems: among them, the lack of trust and the huge number of fraudsters taking advantage of people who only want to buy something.
The Blockchain now plays a prominent role in the world of an auction thanks to DomRaider ecosystem.
With a global market turnover amounting to billions of dollars, it is easy to understand how the auction world can be the breeding ground for new opportunities. Though it may a thriving market it remains tedious and disparate, no matter how it is 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 the auction world is facing right now.
Bidders want the certainty that bids are received correctly and logged immediately so that they aren’t forced to pay more for a product than they have to. Consumers also want the option to bid on the products they want to without have to seek a centralized management approval.
All the online auction platforms that currently exist are based on one centralized operation. They rely on proprietary and closed software. As a result of this centralization, these platforms share the same limitations:
Multiple worldwide auction platforms with a unique set of standards each mean that bidders face additional limitations regarding payment methods or international payment fees (exchange rate, charges and commissions).
In the world of LIVE auctions, physically run by an auctioneer, most are not yet connected through an online platform. Even when this is the case, once again, the ecosystem is of extremely poor quality: limited ergonomics, poor quality audio and video streaming, lack of delivery options…
Currently, auctioneers must go through only one provider that sets its own tools and platform. No open solution exists that would allow auctioneers to directly and easily expand the audience for worldwide sales.
DomRaider is going to launch a new, open, decentralized platform that is dedicated to real-time management of any auction, worldwide, be it online or live.
We want to establish the fundamentals of an ecosystem that is accessible to all, with unlimited functionalities and potential. In effect, everyone will be able to use the platform in order to sell, bid, organize an auction or offer a service on the ecosystem.
The functionalities available on our platform will therefore expand progressively and quickly, as they get more widely adopted by the community and by auction professionals.
The DomRaider solution goes as follows:
Thanks to this decentralized platform, DomRaider will provide a new hassle-free tool to help auction houses online and offline to better manage their auctions and reach new clients worldwide. But how will this platform be implemented? How will DomRaider take advantage of its experience in domain name auctions to test drive a first functional version of the platform? We will answer these questions in an upcoming article so stay tuned!