December in Dubai

Telephony: Sender Pays

In many ways the telephone leaned heavily on the telegraph service for its service model, which, in turn, leaned on the postal service, establishing a provenance for the telephone service model that stretched back over some centuries to at least the 1680s and London’s Penny Post, if not earlier.

The postal service model that gained ascendency over the preceding centuries was one in which the original sender of the letter paid for the entire service of letter delivery. If the postal service that received the letter in the first place needed to use the services of a different postal service to complete the delivery, neither the sender nor the intended recipient were aware of it. The postal services were meant to divide the money received from the sender to deliver the letter, and apportion it between themselves to compensate each service provider for undertaking its part in the delivery of the letter.

The telephone service, for the most part, operates in a very similar fashion. The caller pays for the entire cost of the call, and the called party pays nothing.

Of course, the called party rarely paid nothing. Perhaps no additional charge to receive, but then they had subscribed to the service with the purpose of receiving. So it was that the “free” reception of letters in a box on side of the road, was never akin to the paid reception of calls at a subscribers telephone.

financial TLDs ?? OTC derivatives data reporting requirements ??? is this a dotLEI showcase?

As a pre-requisite, a LEI DOMAIN should only be registered when the applicant uses an FSA ACCREDITED registrar anywhere in the world. The registrar checks the applicant, and is supervised by the registry and Financial Services Authority.
The largest benefit would however accrue from the PUBLIC OVERSIGHT, since anybody being able to access the Internet can verify the LEI DOMAIN information and can raise a concern or objection of non-valid data to the registrar-registry. Information to be placed is template-like (see http://telnic.tel as example) and transparent due to the nature of the Internet.

LEI DOMAIN content (the necessary information the counterparty must provide) is accessible at no cost by all people being able to use the Internet ??? and multilateral synchronization issues are solved through the Domain Name System (DNS).
LEI DOMAIN information can be updated real time. If the Registrant or Registry ???pulls the plug??? on LEI DOMAINS, i.e., they are no longer valid counterparties ??? this action can be seen the very same moment it happens around the world. Uniqueness, neutrality, reliability, open source, and PUBLIC PROPAGATION AND VISIBILITY (transparency) are typical benefits of the DNS.
Which central system would allow this to happen at minimal cost for the involved?
As a new solution possible as of 2012, is to apply to ICANN to register .LEI as a Top Level Domain.

Epiphany!