> please see John Kay's article in today's FT where he also 
> talks about functional separation in relation to financial services: 

An interesting perspective, but I think it's not helpful and doesn't do justice to the specifics of the domain name industry to make an argument that functional separation is ALWAYS good, anymore than it makes sense to say that it is ALWAYS bad. Moreover, as industries, financial services and domain name registration are orders of magnitude apart in terms of the level of complexity and heterogeneity, not to mention macroeconomic impact.  

Milton Mueller
Professor, Syracuse University School of Information Studies
XS4All Professor, Delft University of Technology
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Internet Governance Project:
http://internetgovernance.org