So, the way IP blocking works is that the original launch country prevents players from other regions of the world from having access to the game. The primary reasons for IP blocking are to reduce and/or prevent lag, hacking/cheating/botting/gold farming, etc. I doubt there will be IP blocking, but *not* because the game is global. The devs have said they will be Westernizing the game (so IP blocking for US players won't be an issue as we'll have our own version).
However, we do not know at this time if IP blocking will be implemented or not.