The Internet Corporation for Assigned Names and Numbers (ICANN), the body responsible for governing domain name extension worldwide, at a meeting in Paris last week voted to liberalise the process of creating a new top level domain name (TLD).
The newly approved rules governing creation of new web address will start from 2009, under the new rules, companies, individual, cities or countries can have web address ending in whatever suffix they like, for example, .london could be created for London or .Wales for wales. Companies with deep pocket can have a domain extension for themselves, for example, British Telecom can create a .bt or Boss Cart for that matter could have .bosscart domain extension. Getting the approval to create your own web address surfix is expected to cost between £25,000 – £50,000.
Creating a new web address suffix is not expected to be based on ability to buy a suffix only, ICANN CEO Paul Twomey said proposed new web address suffix could still be blocked by ICANN if its deemed to be immoral such as the proposed .xxx which was rejected last year.
The announcement was welcomed in some quarters, while others such as people responsible for protecting companies copyright thinks it will be a challenging when hundreds of new web address suffix goes online from next year, it will be costly registering all possible domain extensions to prevent it from falling into the hands of cybersquatters.
This announcement could potentially benefit ecommerce website, many desirable ecommerce domain extension are either in use or hoarded by cybersquatters, creation of new TLD will free small business from having to pay a lot of money to buy quality domain name from cybersquatters, instead, you can just register one of the new extension for your ecommerce project.