Fadi Chehade, CEO of ICANN, explained how we "went from twenty-something" top domain names to hundreds thanks to one simple change.
"The reality is, the more there are names, the less people will actually be hogging names in order to charge a lot for them," Chehade told HuffPost Live at Davos on Saturday. "Because if somebody took your name on dot X, you can go get another name on dot Y now."
Chehade also said the ability to type a web address in different languages like Arabic provides people with more power to obtain unique domain names.
"These are powerful things we did," he said. "To globalize the domain name system, to open it up, to allow for a lot of new innovation."
"Innovation will flourish on a broader domain name system," he added.
Below, live updates from the 2015 Davos Annual Meeting: