My thoughts on the IANA Stewardship Transition. Via the IANA Stewardship Transition, ICANN (in basic terms the organization that controls Internet domains and their distribution) will move into a more global multi-stakeholder system and away from one that is US-centric. More & more of the World uses the Internet, it's not just something for the West. There are those pundits in the US that say the Internet is being handed over to totalitarian regimes. Keep in mind that those regimes already control the telecommunications infrastructures in their countries and thus already have some measure of control. Examples include the "Great Firewall of China" and don't forget that Turkey has cutoff access to sites such as Facebook.
In the end my belief is that the rest of the World has a stake in a free & open Internet and wants a say in how the Web is governed.
ICANN has a post with questions & answers regarding the IANA stewardship -