The Domain Name System’s need to have unique identifiers, and a consequent need for there to be a single registry for each name, means that any registry can exercise a degree of monopoly power over the domain for which it has responsibility.

The avoidance of monopoly rents and the need to ensure the continuity and quality of supply have, historically, been among the key drivers for the creation of new trade routes. In the field of telecommunications, for much of the past century, there has been little scope for achieving either of...