Revenues from Domain Names to Be Reinvested in Wales, Says Nominet Chief

Western Mail (Cardiff, Wales), December 8, 2012 | Go to article overview

Revenues from Domain Names to Be Reinvested in Wales, Says Nominet Chief


THE chairwoman of internet registry Nominet yesterday told business leaders that money made from new Welsh domain names will be reinvested in Wales.

Speaking at an Institute of Directors event in Cardiff yesterday Baroness Fritchie launched a consultation to help shape the new internet domains for Wales.

"I am very pleased, as chair of Nominet, to be able to lead an organisation that has such a central role in the economic life of the UK and yet is operated on a not-for-profit basis with a public purpose commitment written into its constitution," she said.

"The proceeds from our business are invested into an independent charitable foundation, the Nominet Trust, which supports projects that help to improve society using digital technology.

"We will ensure that any surplus generated by the new Welsh domains is ring-fenced and reinvested in Wales in a similar way," she added.

Lady Fritchie said she believed Welsh domain names would prove a useful tool to business.

"Many people see the internet as a one-way street of globalisation.

But I think that the same medium that brings the world to your living room also allows a local business to have a shop window in every developed economy in the world," she said. …

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