The idea of domain name serving over the internet without any intervention is fascinating, though it would be interesting to see what the societal reaction would be when someone registers childporn.com or assassinationmarket.com (with corresponding content, of course). As soon as mainstream society discovers that this content can't be taken offline, the backlash to the whole system might be severe.
good point. wikileaks was a small organization which managed to create an uncensorable system, AFAIK among other things by using a wide net of ISP's relations. one can solve some of these problems based on votes. currently google and ICANN largely defines where the boundaries are (who-is policy of domains, what constitutes trademark, etc.)
