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I don't see the problem here.

We've already settled on DNS being the auhoritative authentication key for everything. If you bought the domain then you've bought the corporate identity. It's working as designed.

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The flaw is the fact that companies go bankrupt and their data should die with them. In case of bankruptcy it might be impossible to hold on to your DNS and therefore risking old company data leaking.

Can’t you just actively delete the company accounts when closing down?

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