The document discusses potential alternatives to the current Domain Name System (DNS) for managing internet identifiers. It proposes that an "xCoin" could represent a globally resolvable identifier, similar to how Namecoin currently allows for registering and transferring names on the blockchain. This could create a decentralized naming infrastructure as an alternative or supplement to the existing DNS system, reducing costs and improving privacy compared to the need to register domains through centralized authorities.

1. Today, identity provider saml is always in the context of a DNS domain name.
Registering your own domain is the only chance you have at privacy. However, domain
name registration itself is privacy destroying.
After seeing a recent bit Coin info graphic, it made me think of an old blog I wrote a
few years back about an idea for an Internet naming system based on bit Coin. DNS is
surely one of the great achievements of standards based inter-operability. The mere
mention of a naming system other than DNS is verboden in Silicon Valley. But why do
we need these silly “dotted” hierarchical naming systems. Why can’t I just be “mike”?
Conventional wisdom is that a contextual naming system is needed for Internet scale.
In a flat namespace, the “good” names will be immediately unavailable, and the rest of
us will have to get some lame alternative that might as well be a DNS component. How
many good Twitter IDs are going to be left after 100 years?

2. It always seemed that being a TLD registrar was just too sweet of a deal. Its a natural
monopoly. Sure with standard registries, we have some competition… but we’ve accepted
that we have not only have to pay these marginally valuable middle men, but we waste
lots of time getting things right, and then get lots of spammy offers we don’t care about.
But if that’s not bad enough, how sweet it is to be the governor of the registries. One can
only imagine the fringe benefits for board members of ICANN. And the announcement a
while back that ICANN would auction new TLDs at market prices provides a new revenue
stream for these technical pontiffs. Monash University is the first branded TLD. ICANN
accruing the benefit of naming the Internet is the best we can do?
When the architects of the Internet designed DNS, there was no distributed transaction
technology like bit Coin. DNS was a fabulous solution. But now that we have a more
efficient alternative, we should use it.
My idea is that an “xCoin” would represent a globally resolvable identifier. X marks the
spot. Like a dollar bill, the coin has a serial number. Unlike a dollar bill, it also has other
attributes or “claims.” The xCoin rules can allow for these claims or the coins themselves
to be transferred.

3. There is some precedent for using bit Coin for DNS: name Coin. Name coin allows
you to: (1) Securely register and transfer arbitrary names (keys); (2) Attach 1K of data
to each name; (3) Trade and transact in Name coins. All of this is done
pseudonymously (data is linked to a randomly generated addresses) and in a
decentralized manner which is strongly resistant to censorship. So it seems logical
that we can add additional rules, performing in code the role of ICANN to govern the
registries, to make an operational naming infrastructure that could supplement DNS.
In fact, with new naming requirements brought about by the Internet of Things, it
could be really helpful to have an alternate naming infrastructure that has lower
transactions costs for people. Should consumers register a DNS domain to control
their own namespace? I don’t think this was the original intent of the design. I think
we thought organizations would be registering DNS names, not people.
Article resource:-http://www.blogster.com/thegluuserver/currency-of-identifiers-ii