The decision provides companies the opportunity to turn their brands into web addresses, while individuals could potentially use their names. A second proposal, that would introduce domain names written in scripts such as Asian and Arabic, was also approved.
“We are opening up a new world and I think this cannot be underestimated,”
said Roberto Gaetano, a member of the Internet Corporation for Assigned Names and Numbers (ICANN).
Another Domain Gold Rush!
ICANN has been working on the move for nearly six years.
Some companies have used the current system to suit their own needs with country domains, such as .tv , which was originally created to designate the Polynesian island of Tuvalu, but ended up being adopted by many companies in the television industry. Others have been even more creative – Can you say “del.icio.us?”
The new plan is sure to inspire a rush for thousands of new top level domains based on any string of letters, providing a “business plan and technical capacity” can be demonstrated.
Expect the new system to come replete with contentious battles and bidding wars as companies move to secure domain names based on their intellectual property.
The new system is anticipated to come in the next year, so get ready domain buyers! There’s gold in them there extensions!