It is interesting project. But I think it is a good future goal but my goal would be an interium solution more based on traditional DNS but not using ICANN. There are a few like OpenNIC that have their own root DNS servers to create/manage TLDs.
Examples:
http://new-nations.net/en/about/showpage
https://en.wikipedia.org/wiki/List_of_Internet_top-level_domains
You also have things like https://unstoppabledomains.com/ who claim to have over 3 million domains registered simply by creating them out of thin air.