Quote:
Originally Posted by Quoth
Compared to anything else, it's broken. ICANN needs to be scrapped. Disputes need to be handled exactly as any other naming dispute for companies, businesses or trademarks.
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ICANN is a political body to essentially deal with the issue. The trilemma is between too rampant speculation (which would piss off ordinary people too much), expensive domains (less speculation, but pisses off people too) and mercentile controls which would restrict registration to "eligible" customers.
Again, the market parallels to real estate are so close I'm tempted to call domains "virtual estate".
ICANN is like mortgage underwriters in real estate ("The banks"). They do a meh job, and get a pile of cash for doing essentially nothing. They don't really have your best interest in mind either. But they're still politically controlled - if they over do their shit, things will change via political process, rather than money. Without them the system succumbs to a ruthless free market frontier, and most people are really not ready for unbridled libertarianism like that.