The supremo has announced his intention to make changes to the governing body, while adding that Fifa’s ship is "in troubled waters" and that he is willing to face public anger
Speaking in Zurich during Wednesday's Fifa congress, Blatter proposed that future World Cups will no longer be awarded by the organisation's executive committee, but instead by Fifa's members, while the Ethics Committee will be elected by congress.
"Is it correct that the World Cup is awarded by the Executive Committee? In the future, World Cups will be awarded by the 208 members of the congress," he stated.
"Additionally, members of the Ethics Committee must be elected by the congress in future."
Blatter then assessed the recent turmoil involving Fifa and its officials, and stated that he is ready to face public anger if that is in the best interests of the game.
"We have seen the break down of political systems and how difficult rebuilding can be. We have been hit and I personally have been slapped," he said.
"Our ship is in troubled waters and I am the captain weathering the storm. Not only is our pyramid shaking but our ship has taken water. I am willing to face public anger in order to serve football."
Allegations of bribery and corruption have damaged the reputation of the organisation, but the supremo added his belief that football is transparent and that the recent accusations must stop.
He said: "Our game of football is transparent. The Ethics Committee had been called into life in 2006, [with] zero tolerance. But we need facts; we need action. We must stop once and for all these ugly allegations. Our credibility is at stake. We must take a look at this today."
Blatter ended by saying that a committee will be installed to recommend further changes and stated that it is Fifa's job to protect football.
The Fifa president added: "A committee to examine Fifa's corporate governance will be formed to recommend changes. This committee will be made up of people from inside Fifa. We must protect football. It is a huge treasure. We will intensify communication. Discipline, respect and fair play are the most important values."
Blatter runs unopposed for re-election to the Fifa presidency, to be held later on Wednesday, after sole challenger Mohamed Bin Hammam withdrew from the running on Sunday.