On September 30th, the joint agreement between the US government and ICANN will expire and, in all likelihood, not be renewed. This will free ICANN from any external scrutinisation. Clearly this is not good for an organization that is well known for it's lack of transparency. Once they're free to do what they like you can say goodbye to ICANN-enforced price caps on major extensions. Verisign will be able to charge any price they like to renew your domain, and there will be virtually no recourse.
For the past decade America has delegated some of its authority over the internet to a non-profit organisation called the Internet Corporation for Assigned Names and Numbers (ICANN)—an arrangement other countries have complained about, both because they have little say in it and because ICANN’s management has proved erratic at best and criminally negligent at worst.
ICANN’s latest mandate is due to expire on September 30th. The day before, a new accord is planned to come into effect, whereby America will pass some of its authority over ICANN to the “internet community” of businesses, individual users and other governments.http://www.economist.com/businessfin...ry_id=14517430