The Government of the United States of America has finally handed over the ownership and control of the Internet Assigned Numbers Authority (the internet’s address book) to ICANN.
ICANN is an independent international body, which is made up of numerous governments, corporations and individual users. In 1998, it had officially been originated as a nonprofit organization that is liable for managing the sustenance and proceedings of various databases.
Apparently, ICANN had been given their contract to manage the internet in 1998 but the process was slowed down to minimum pace due to politics. Many had even opposed this move, including Ted Cruz.
However the organization finally got approved a transition plan this year. With participants from all over the globe, the organization’s purpose is to keep the Internet secure, stable and interoperable. Hence, the ICANN is now the official owner of the IANA – The Internet.