Escrow could change because of GDPR

JulienJ

Member
Yesterday morning, I asked if readers are concerned with the Whois changes that are likely coming because of Europe’s GDPR regulations. Nearly 40% of those who responded are not concerned about changes, which is a bit surprising to me given the nature of what could change.

I was chatting about the Whois changes with a friend, and one big change that might come as a result of not having public Whois records is the domain name sale escrow process. When domain owners sell domain names without the involvement of a marketplace like Sedo or Afternic, most use a third party escrow service (or they should) like Payoneer Escrow or Escrow.com. The verification process currently in place is going to have to change if public Whois records are not available.

The way the process works now is that a buyer sends the funds to the escrow service, the escrow service informs the buyer and seller the funds are secured, and the seller either facilitates a domain name push at the registrar or sends the authorization code to facilitate a transfer. Once the transfer is finalized, the escrow service releases the funds. If Whois records are not available, I don’t see how it will be possible to confirm the domain transfer took place.

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