New top-level domains

Domain names and top-level Domain
Summarize of major issues
The two articles touch on the all new issue of top level domains. Whereas one article brings out the basic ideas associated with the general press on what the new domain system is going to be about and its potential benefits and challenges to the banking industry, the other tries to clear misconceptions that may be associated with the new domain system. Basically, Crossman (2011) focuses attention on the banking industry. Indeed, the choice of the banking industry is doubtlessly a very prudent choice. This is because the banking industry is now finding a place in the new sensation of internet technology as compared to the trade and entertainment industries that have already found firm ground in the internet mystery. The new domain system is therefore seen by Crossman as a means for the banking industry to take advantage of its new edge to also dominant the internet. Steve (2011) on the other hand sees the need to educate the ordinary user of the internet on the new domain system. Though Steve did not make specific mention of the banking industry, his advocacy on misconceptions associated with the new domain system would clear doubts among the players in the banking industry who may want to take advantage of the new system.
Importance to modern organizations
The modern organization discussed in the articles is the banking institution. The first importance of the new domain system as discussed by Crossman (2011) is that there would be the room for personalization and customization. Such personalization and customization according to Crossman goes a long way to enhance company branding. He states that “ this potentially opens up an opportunity to banks to market and brand themselves differently through their internet addresses (Crossman, 2011). With the current economic climate where the world is now recovering gradually from the global economic crunch that hit it, any form of publicity that brings customers closer to be business is very important in ensuring growth. If the new domain would therefore give banks the opportunity to identify themselves with customers, then this is good news to the industry. The second importance outlined is the fact that the new domain system will check online fraud and make online banking more secure. Crossman (2011) quotes Javed who posits a rhetorical statement saying “ no squatter in their right mind would go spend six months and half a million dollars so they could mess around with Bank of America’s name, then get sued the following week and get a cease and desist order. This is definitely a cyber squatting killer.” Indeed the more customers can trust that their monies will be safe with banks, the more they will want to do business with the banks.
Impact on modern information technology infrastructures
Certainly the new domain system would be of major importance to information technology infrastructures and impact on them positively. This is because the new domain is going to ensure that there is as much money in the IT industry as possible. Considering the fact that “ it will cost $185, 000 to apply for an extension and an additional $25, 000 per year to keep it active among other costs” (Steve, 2011), it will be a new era in the information technology world when money can be accrued for infrastructural development. This advantage not withstanding, there could be an impact that may be described as demerit. This is in the fact that domain hosting would loss a lot of prominence as much of the authority associated with it will go to domain hosts who would buy the new domain names. When this happens, popularity will be switched from the information technology giants who used to control domain hosting to individual organizations who will now be the authorized owners of their own domain names.
REFERENCE LIST
Crossman P. (2011) New Domain Names Pose Opportunity and Challenge to Banks. Bank Technology News. Retrieved August 21, 2011 from http://www. bankinvestmentconsultant. com/news/banks-new-domain-names-branding-marketing-security-2674524-1. html
Steve J. (2011) 10 Myths about the New Top-Level Domains. Retrieved August 21, 2011 from http://www. businessinsider. com/10-myths-about-the-new-top-level-domains-2011-8