The networking landscape is expected to undergo profound changes over the course of the next decade. New networking use cases such as tele-driving and tele-operations are emerging that require high-precision communications with stringent latency and loss objectives that cannot be met by current technology. Pressure is mounting on industrial networks, up to this point a bastion from Internet technology, to converge. At the same time, other forces are becoming more pronounced, such as the “Manynets” phenomenon, which is beginning to fragment the existing Internet, and concerns about the increasing ossification of the Internet, which slows down the ability to innovate inside the network when the pace for needed innovation is actually accelerating. Considering all this, recent proposals for a “New IP” have emerged that suggest defining new solutions for IP networking. What sets these proposals apart is that they are aimed at Layer 3, the core layer of the Internet, not simply the transport or application layer. They claim that innovation at the IP layer is required to address the root of the issues that need to be confronted to unleash a new wave of Internet innovation. This, in turn, has been met with fierce resistance from the IETF and its governing body, the Internet Society, who as guardians of IP object to any proposals that put into question the “thin waist” defined by IP in the hourglass structure of the Internet protocol stack, and who claim that innovation outside IP itself will in fact be sufficient to meet emerging networking challenges. The panel will examine the issues underlying this controversy and panelists will represent the different sides of the argument. Specifically, panelists will debate whether network innovation inside IP itself needs to occur or whether work at other networking layers will be enough to address newly emerging challenges and issues that emerging applications are faced with.