Started in January this year when ICANN (Internet Corporation for Assigned Names and Numbers) made a radical announcement that it will accept the applications, over the period of next three months, from the companies that are willing to change their domain name suffixes. Today, the deadline has approached and companies can only submit their applications in today’s date.
Many experts are viewing it as the most radical change in the entire history of Web as it can complicate the structure of Web with companies having their own TLDs replacing “.com” and “.co.uk”. But some professional are seeking more stringent security through new domain names. Banks are the one example of it, having their own domain name suffix means users will only be directed towards the actual site of bank by search engines rather than to some fake sites that steal users’ important data.
It also said that not many companies can bid for this change since the application for owning a domain name suffix cost £120,000 and £25,000 for its maintenance.
Once application process is over, it will take approximately 18 months before new Web address works. So, it will be like investing the money and sitting back to wait for that time.