It was developed by the IETF in a working group led by engineers from Cisco and Nokia. It’s approximately as far from an academic solution as you can get.
Exactly like we did with telephone numbers.
IPv6 has 31 nibble boundaries. IPv4 has 3.
Do me a 10.15.121.75/19 from the top of your head.
I would choose working with IPv6 addresses over IPv4 any time of day.
Engineers added 12 additional bytes requiring the switch to a hexadecimal notation, because 255.255.255.255.255.255.255.255.255.255.255.255.255.255.255.255 would be a little bit too long.