taxonomy instead of DNS

Is it possible to have a directory service based on a taxonomy instead of DNS? It would be interesting for the Internet to have a service that allows one to make a query based on a hierarchical taxonomy. I think that we could redesign the DNS service to be based on a taxonomy. The implementation would be much more elegant. And perhaps, a semantic web service would be able to make new derivations on the fly and provide an intelligent directory service. That would interesting.