The first thing that comes to mind is: “Did the US really have administration over the internet?”.
Well, they do have all the initial rights of ownership: originally a Defense Department project in the 1960s called ARPANET, the Web as we know it has been furthered by countless scientists and brilliant minds around the world.
However, the United States government has had a long-standing contract with the Commerce Department and the Internet Corporation for Assigned Names and Numbers (ICANN) — that’s right, where all registered domain names pass by, including full control of .com, .org, and the rest. Meanwhile, everything will function as normal.
By terminating the contract with ICANN, the administrative arm of the internet is up for debate, among the world’s leaders, who are tasked with finding a compromise. One thing the U.S. did make clear in its relinquishment of control: the responsibility will should not go the United Nations.
Perhaps a new international organization will? We’ll see about that.