(Worthy News) - The US government is set to cut the final thread of its oversight of the internet, yielding a largely symbolic but nevertheless significant role over the online address system.
Barring any last-minute glitches, the transition will occur at midnight Friday (0400 GMT Saturday), when the US contract expires for the Internet Corporation for Assigned Names and Numbers, which manages the internet's so-called "root zone."
When the agreement with the US Commerce Department runs out, ICANN will become a self-regulating non-profit international entity managing the Internet Assigned Numbers Authority, the system for online "domains" such as .com. [ Source ]
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