It took six years in the making but the Icann, the group that regulates the Internet, has approved an overhaul on domain names. The overhaul will allow companies to use their own brand names and not be saddled with .com, uk, or others. Icann also is going to allow Asian, Arabic and other script as well. In a recent article it states:

“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).

Others believe it could begin to bridge the digital divide.

“At the moment, there are one-and-a-half billion people online and four-and-a-half billion people for whom the Roman script just means nothing,” said Emily Taylor, director of legal and policy at Nominet, the national registry for .uk domain names.

“This is a huge step forward in the development of the internet – it will unblock something that has prevented a lot of people getting online.”

¬†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”.

I recall a time when someone could hold hostage a .com name and demand a huge hunk of cash for it. Hopefully this will end when the new regulations start in 2009.

So what do you think of this idea? Is the Icann trying to get changes made for domain names going to help or hinder the way we use the Internet.

Comments welcome.