From what I've read, Commerce has instructed ICANN to come up with a replacement that is not dominated by nation states, but other stakeholders. The real meaning here is that little will fundamentally change -- the Internet has been mostly run by the Internet Society and users anyway. This is mainly a political move because of the NSA/Snowden stuff, but it's not like IANA was causing any of the issues related to that. If you put on a tinfoil hat, you'll mainly be doing it for the fashion statement.
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