Space has been a bit of an issue on the internet lately as domain names fill up, especially in the .com and .net areas, but even in .org.
The ICANN agency agreed today to finally open up a number of new domain suffixes and ease the process for approving others that might enable new extensions such as .bank or .post for industries like banks and postal services to sell postage tape online with their own domain extension (like the existing ones don't work already!)
Similarly, there could be area based domains like .nyc that might soon be on the internet.
One big change will include the entrance of domain names that are not written with any english words at all. This last item is probably where the real substance of this decision rests as many non-english speaking countries have sought this ability for sometime and it has definitely held back development of the internet in some areas.
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