What would happen if Israel assumed 'security responsibility' in Gaza?

Israel's military and its prime minister both said on Tuesday that its forces were "operating inside" Gaza City, with Benjamin Netanyahu saying the city was "encircled." Netanyahu again said a cease-fire or a resumption of fuel deliveries was out of the question unless Hamas released its remaining hostages. He repeated his call for civilians to flee south in Gaza to avoid the fighting. Netanyahu has also hinted at his plans for Gaza once the fighting is over. In an interview with US broadcaster ABC News, he said that Israel would control security in the Gaza Strip — after destroying the Islamist militant group Hamas. But what exactly would this mean for Gaza and the people living there?