Generic Top Level Domains (gTLDs) Registration Begins: High Risk, High Reward?

What Is A Generic Top Level Domain?
Taken from the ICANN site:

“The decision to apply for a new gTLD should not be entered into lightly. Applying to run your own gTLD is not the same as registering a second-level domain name. When you apply for a new gTLD you are applying to run a registry business. You will be responsible for a critical and highly visible piece of Internet infrastructure. Just as Verisign is responsible for all the domain names registered in the .com top-level domain, so you would be responsible for all the domain names registered in your .something gTLD.”
(
http://newgtlds.icann.org/en/about/benefits-risks
)

gTLD Applicant Guidebook
Head of ICANN, Rod Beckstrom says that the Applicant Guide (349 pages long) is “the bible for new gTLD applicants”:

http://newgtlds.icann.org/en/applicants/agb/guidebook-full-11jan12-en.pdf

Who Is Rod Beckstrom?
Who is Rod Beckstrom and where did he come from?  After a bit of digging, I was surprised to read this ICANN press release about how Beckstrom is leaving in July 2012.  Is he leaving because gTLDs are a bad idea or are gTLDs his parting legacy?  OR, are gTLDs and Beckstrom’s departure completely unrelated?

Rod Beckstrom aside, I think there is fear of the unknown with gTLDs.  They undoubtedly carry big responsibility as you would be responsible for everyone operating under the umbrella of your gTLD.  What would make a gTLD special?  What would make people want to use yours and not someone else’s gTLD?  Beckstrom is right when he says that it will open up the potential for innovation.  From a non-techie point of view, I’ve always found http://, www. and .com (stands for ‘commercial’) tedious and unintuitive.

What Is ICANN?
The Internet Corporation for Assigned Names and Numbers (ICANN) is a non-profit organisation headquarterd in California.  “ICANN is responsible for the coordination of the global Internet’s systems of unique identifiers and, in particular, ensuring its stable and secure operation.”

Before the establishment of ICANN, the Government of the United States controlled the domain name system of the Internet. (
http://en.wikipedia.org/wiki/ICANN
)

How Could We Access The Internet Without DNS or Search?
Think of a naming convention to order and find sites without having to type in a domain name?  I suppose Search has come the nearest to this so far.  How could you access the Internet without DNS or search?  Is it possible to access the Internet in its entirety, in its rawest form, without the filter of search or browsers?  I think the answer lies with hyperlinks and spiders…let ordinary users *be* the spider and see where the Internet, not the web, takes them…access sites they’d never have normally found..tap the stream of consciousness.

Will A gTLD Boost Rankings?
From an SEO & PPC point of view, .keyword would be valuable to advertisers as it would undoubtedly increase their keyword relevancy and win higher rankings above sites with generic .com domain names.

I think gTLDs are a good idea.  .com is too generic and .xxx, .whatever will further classify the web; by classification, not just by country.  It will be interesting to see who registers what and how they choose to manage those gTLDs – will owners keep gTLDs to themselves or allow anyone to register under their gtld?  Will a gTLD be more valuable or less valuable if the owner keeps it to himself or shares  it with the world?

Related Articles:

9 Things You Need To Know About ICANN’s New Top Level Domain Names, by Christina Warren.

Great Aspects Of gTLDs For A Domain Investor, by Elliot Silver.