Till today the Internet was regulated by United States Commerce Department, a contract was made that gave authority since the foundation of the Internet.
After 47 years, this contract ends tonight at midnight EDT i.e. Saturday, October 1st, 2016.
Does above statement meant that the United States owns the Internet, then you’re wrong. It doesn’t.
A non-profit organization ICANN (The Internet Corporation for Assigned Names and Numbers) founded in 1998 oversees the Internet’s “address book” (or root zone) — the process of assigning domain names and the underlying IP addresses to keep the Internet running smoothly.
The twist came after the contract where ICANN and its IANA department (the Internet Assigned Numbers Authority) was set to work under the supervision of National Telecommunications and Information Administration (NTIA), an agency of the U.S. Department of Commerce.
The US Commerce Department is scheduled to hand over its role to ICANN, which will now become an autonomous body, accountable to an international multi-stakeholder community which includes members from the technical community, businesses, telecommunications experts, civil society and governments.
- Source: The Hackers News
Source: OMG FOSS