New Domain Suffixes
Those in the know back in the start-up days of the internet began to purchase domain names like hot cakes. It was like purchasing prime real estate. Of course many of us were unfamiliar with the internet lingo and wouldn`t have thought twice of purchasing coke.com, cnn.com etc.
These individuals began to be known as domain squatters. Whereby, they would purchase a domain and simply wait until an individual wanted to purchase it.
This created many problems for example, someone else owning the domain name of your actual name.
I am not sure of the kind of money domain squatters made but I am sure they made some.
A few years back internet regulators introduced new domain endings. We had the introduction of .tv, .biz, .telecom.
However, this did not solve the problem. Today the BBC reported that ICANN:
A global internet body has voted to allow the creation of new website domain suffixes, the biggest change for the online world in years.
It will only cost a meagre $185,000 to apply for a specific suffix.
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