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Good point. Using the word "bay" in any auction related service might cause some legal issues. The guys creating "openbazaar" did quite well in creating a brand. Maybe something like "auct-chain" will do ;-)

"bay" is a word, you can't trademark it. No one uses openbazaar and auct-chain is again too niche. "dbay" is how I would go. It piggybacks off of their brand without violating their IP.

Appreciate your feedback on this and I'm not a lawyer, but doing a quick research on "Trademark Laws" tells me, that I should avoid choosing a name which is too similar to an existing brand.

As a general rule, if someone in a similar field to yours is already using a particular business or organization name, you should not use it, nor should you use a name that would be confusingly similar.

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