ICANN has apparently voted to approve the new relaxed rules for forming new TLD's.
Experts predict that this will mean hundreds of new global domain extensions emerging soon. Basically, almost anyone paying around $50-$100k and meeting the technical criteria, will be allowed to have his own, unique domain name extension.
For example, GFY will be allowed to apply for a .gfy TLD.
The much relaxed rules for new TLD allocation, will also most likely mean that the .xxx domain name extension will become reality, if ICM applies for it once more.
Regardless of .xxx, personally, I see completely no point in this.
The current TLD system is fine and the new rules will only confuse the web-users and pollute the web with useless crap, will enhance scammers and will mean that companies will have to spend much more money on legal fees and to register domains to protect their trademarks.
See this BBC article for more details:
Quote:
A complete overhaul of the way in which people navigate the internet has been given the go-ahead in Paris.
The net's regulator, Icann, voted unanimously to relax the strict rules on so-called "top-level" domain names, such as .com or .uk.
The decision means that companies could turn brands into web addresses, while individuals could use their names.
A second proposal, to 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).
'Historic importance'
Icann has been working towards opening up net addresses for nearly six years.
At the moment, top-level domains are limited to individual countries, such as .uk (UK) or .it (Italy), as well as to commerce (.com) and to institutional organisations, such as .net, or .org.
To get around the restrictions, some companies have used the current system to their own ends.
For example, the Polynesia island nation Tuvalu has leased the use of the .tv address to many television firms.
Under the new plans, there could be thousands of domain names based on any string of letters.
Individuals will be able to register a domain based on their own name, for example, as long as they can show a "business plan and technical capacity".
While companies will be able to secure domain names easily based on their intellectual property, some domain names could become subject to contention and a bidding war.
The new system should come in next year.
Another member of Icann, Peter Dengate Thrush, said the decision to relax the rules was of "historic importance".
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http://news.bbc.co.uk/2/hi/technology/7475986.stm