What comes to your mind when you’re told to recite 3 Rs? The 3 Rs can have a lot of meaning, but that is not exactly what we’re talking about. We’re talking about Registry, Registrar, and Registrant.
Why would you have to care? These 3 Rs are part of you is you own a website. You cant get a website address without these three Rs. As far as websites are concerned, it is always good to know who and what you’re dealing with. Let’s look at the 3 Rs
Registries own domain extensions that we all love such us dotcom, dot org, and dotnet. And also new generic top-level domain abbreviated as gTLDs. These top level domains are gathering momentum in the cyber space. Registries are companies that have been empowered to provide domain extensions to other companies. The registry allows customers to claim their preferred domain name with chosen or preferred ending.
There are many registrants and registrars but only very few registries. There is this new domain registries called Donut, Inc. This registry is releasing dozens of customizable and very cool domain extensions.
These are companies that work with registries to facilitate and bring you to domain extensions. You can think of these as diamonds or gem negotiators. When did you look at a precious stone such as diamond right from the hands of a digger? Apparently never, unless you’re a digger or a jeweler. In such a situation, you go to that local shop and ask the sales representative to help you select that gorgeous stone.
GoDaddy is a great example. They coordinate with registries and bring to you the best and most valuable domain extensions. In addition, they often have attractive promotions when you register domain names, such as just $.99 for a .Com domain.
In this case, you're the registrant. If you own a domain name, you’re the registrant. The invention also recognizes that the registrant (domain owner) and the new underwriters will need greater protection against fraud and outright theft than exists in the system at the present, the invention, they insist, will take care of that. Much as I'd like to explain how the invention or process would accomplish this feat, I found the explanations given in the patent application impenetrable by anyone but a patent lawyer. No doubt illumination will come later, for now I'm willing to take their word for it; after all, something has to be done.
Related: How to Secure your own Domain Name?
This greater security, the patent application claims, will benefit all the players by allowing those that want to invest in domain-name share equities to invest with confidence that their money won't be stolen, and at the same time let the domainer do what he does best (which, I assume, is create value by registering the name).
Although it isn't mentioned, I think one possible benefit to domain owners might be the added protection against companies making unreasonable claims of cybersquatting against them. It is one thing for these bullies with their money and lawyers to go up against the average domainer, and quite another to take a run against the financial muscle of banks and insurance companies holding shares of these threatened domains in the new domain game, and even the registrars themselves will be forced to show some interest in the domain's ownership.