The new gTLDs will effectively allow the creation of any TLD with up to 64
characters,  generic words, brand names,  regional suffixes, allowing
owners to  become domain registries. According to the CEO, this will open
up the domain "naming system to unleash the global human imagination," .
This development will also provide owners with the rights to create top
level domain names in any script or language. Applications for gTLDs will
be accepted from 12 January to 12 April 2012.

There are currently  only 22 generic top level domains, which are .com,
.int, .edu, .mil, .net, .org, .arpa, .info, ,museum, .name, .pro, .asia,
.cat. .jobs. .mobi. .post . biz, .tel .coop, .travel. .tel, gov.

With this new development, there is likely to be several hundred new
generic top-level domain names which could include such addresses as .
bank,  .hotel. .shop, .coke, . africa, .nairobi, among others.  It will
cost US$185,000 to apply among other requirements, like technical
standards, etc a price that rich global organizations will be willing to
pay to maximize their presence on the internet.
Too  expensive?

Yes particularly for developing countries with the same needs to not only
increase our presence on the internet but for some  to protect against
trademark infringement dot.mpesa anyone?

During the ICANN meeting in Nairobi, the Government Advisory committee
(GAC) had advised the board to initiate a process that would see
provisions made to support needy applicants and applications from
developing countries.

The Joint SO/AC New gTLD Applicant Support Working Group was set up with
the main objective  to develop a sustainable approach in providing support
to applicants requiring assistance in applying for and operating new gTLDs
Registries.
This group have recommended a number of innovative approaches that are
currently under consideration by ICANN community including the government
advisory committee.
Yesterday's resolution included a "program to ensure support for
applicants from developing countries, with a form, structure and processes
to be determined by the Board in consultation with stakeholders including:
(a) consideration of the GAC recommendation for a fee waiver corresponding
to 76 percent of the $185,000 USD evaluation fee, (b) consideration of
recommendations of the ALAC and GNSO as chartering organizations of the
Joint Applicant Support (JAS) Working Group, (c) designation of a budget
of up to $2 million USD for seed funding, and creating opportunities for
other parties to provide matching funds.........Final Report from the JAS
Working Group (requested in time to allow staff to develop an
implementation plan for the Board’s consideration at its October 2011
meeting in Dakar, Senegal), with the goal of having a sustainable
applicant support system in place before the opening of the application
window";



More on this later

Very best

Alice