The body that oversees net addresses has approved a controversial deal over the future of the .com domain.
The deal gives US firm Verisign control of .com until 2012 and lets it raise prices in at least four of the next six years
Since I am not personally involved in a web business I don't have a feeling on how this will effect web commerce. From Verisign's web site we learn...
VeriSign Inc (NASDAQ: VRSN) operates intelligent infrastructure services that enable people and businesses to find, connect, secure, and execute transactions across today’s complex, global networks. Every day, we enable over 14 billion Internet interactions, 3 billion telephone interactions, and $100M of e-commerce. We also provide the services that help over 3,000 businesses and 400,000 Web sites to operate securely, reliably, and efficiently.
Curiously, on its web site, Verisign is identified as Verisign Ltd, a UK company.
Opposition to Verisign control of .com comes from one US politician...
Representative Rick Boucher opposes the section of the agreement that gives Verisign a "presumptive renewal" right to keep control of .com when the contract for who administers it comes up for re-negotiation in 2012.
...and from various industry critics who say...
this right of renewal effectively means Verisign has everlasting control over .com. Also criticised are clauses that let Verisign raise prices for .com domains by 7% in at least four of the next six years.
For its part Icann gets a one off payment of $625,000 to help it administer the new agreement. The net oversight body also gets regular annual payments which start at $6m and rise to $12m by 2009.
Maybe somebody needs to follow the money.