I agree with many of the previous posts.
For many, the current ICANN system will seem favorable to this proposal. Unless you worry about your domain being shut down, ICANN enables you to bank on the fact that you can keep your domain. That stability it important.
The suggestion in this topic has it's merits, but also has one major downfall. If someone decides to obtain a domain, they'll usually want the security of knowing they can use it without worrying about someone coming along and taking it by brute monetary force. The current proposal seems only to have significant value to a niche market. Why would many people choose this option over the existing option? Only if they have very specific needs.
Can't we use this model, but without the possibility of domains being forced out of people's hands by spitefulness, rich bullies or naughty competitors? I know squatting is a problem, but this doesn't seem like a good solution.
Is there any value hidden in the following half-baked ideas?
- If someone wants a domain which they believe is being squatted or underused they can challenge the domain. The owner of the domain must somehow overcome the challenge.
- In order to keep a domain the owner could add value to the DAC somehow, as well as leasing their domain. This could be almost like a proof of work, but one which is useful rather than arbitrary. Can someone think of a way to implement something like this? Is there some kind of manual work which could be done to improve quality, review sites, report problems etc.?
- Maybe this kind of proof of work can be used in order to stop people from bidding you out of your domain. That way you could have a choice - prove that you're not squatting by manual POW, or if you don't want to, the system could revert to the original suggestion by Agent86
- Maybe the POW could involve the development of a reputation/review system for domains or users. Or a filtering system whereby sites are categorized for efficiency in searches, or avoiding certain content material etc.
I admit I have little knowledge, but can anyone build upon any of these ideas? I don't know whether or not anything I've suggested is feasible.