"It marks a transition from an internet effectively governed by one nation to a multi-stakeholder governed internet: a properly global solution for what has become a global asset."
Technically, the US is doing this voluntarily - if it wanted to keep power of DNS, it could. But the country has long acknowledged that relinquishing its control was a vital act of international diplomacy.
Other countries, particularly China and Russia, had put pressure on the UN to call for the DNS to be controlled by the United Nations’ International Telecommunication Union.
A treaty to do just that was on the table in 2012 - but the US, along with the UK, Canada and Australia, refused, citing concerns over human rights abuses that may arise if other countries had greater say and control over the internet and its technical foundations.
Instead, the US has used its remaining power over DNS to shift control to Icann, not the UN.
In response to worries about abuse of the internet by foreign governments, the NTIA said it had consulted corporate governance experts who said its the prospect of government interference was “extremely remote”.