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Yes, currently the DNS records are being managed by private companies. The biggies like Verisign, USC-ISI, NASA, US Army Research Lab, RIPE NCC, ICANN, etc are managing DNS. Though they are providing it 24x7 for fully free but at the end of the day, most of them are being controller privately one or another way.
So yes, decentralized internet sounds a very good concept!

Yes, I've heard this called "web 3.0" and I don't know about you, but I'm ready for it!

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