Domain Extension Chaos!

I was just reading on Mike Muise’s Blog about the ruling that came down today from ICANN that opens the door for anyone with a little financial backing to apply for their own domain extension, example: .com, .net, .org, etc. 

I caught the tail end of this report on CNN today but didn’t quite get the entire story, Mike has some good info on his blog here about the ruling and how it’s going to take shape.  If you are even remotely involved with the web at all, this ruling is going to be something that you are going to want to pay particular attention to, it’s kind of crazy if you ask me, I can’t get my mind around what it’s going to look like, here’s a quote from Mike…

If you thought the domain world was a little over complicated as it was with all the various extensions already available, you are not going to like latest news to come out of ICANN meetings taking place in Paris. It appears as early as next year, anyone with a little financial backing will be able to apply to have their own extension created. I am sure some will go to good use, but I lay more on the side of skepticism here. Not only do I think some bad ideas will come out of this, I think this will just cause a nightmare for organizations looking to protect their brand names online.

Source: http://blog.dropthemike.com/2008/06/26/chaos-confusion-on-the-way/