Just what would this mean? Global governance over the Internet. What about these uprisings in different countries......if they shut down the net in that 1 country, would it be shut down globally also? How would this affect the giants like Google, Yahoo, and other's. And so many other questions pop into mind right away. (the story in link below.)
The effect of the United States giving up control is not immediate, but will no doubt be seen over time. Lawrence E. Strickling, Assistant Secretary of Commerce for Communications and Information said first, the people from ICANN will need to convene the stakeholders from around the world, to come up with a transition plan. A meeting in Singapore March 24th, is to discuss the future of the Internet.
ICANN's most important job, is to assign Internet domains, like .com , .net , .edu, and so on. Right now, they are in the middle of assigning a whole brand new set of domain names to the Internet like, .gay , .army , and .book …..and many other's.