Getting the next billion people online, PKT Lead developer shares how

cointelegraph.com:

Monopolistic ISPs are overselling bandwidth while billions of people still don’t have internet access. Now, the world’s first layer-1 blockchain for bandwidth is introducing a solution to get the next billion people online.  Cointelegraph talked to PKT lead developer Caleb James DeLisle about the problems with the internet industry and how to fix them.

Tell us the story behind PKT. Why does a layer-1 blockchain have to do with bandwidth? 

The consumer broadband market is what I would call “rigged:” it’s overpriced and it’s underpriced at the same time. The way the companies in the industry do this is with a trick called “oversubscription.” They’re selling the same internet connection over and over because they’re betting that people won’t all be using it at the same time. On its face, it might seem convenient and efficient, but this allows ISPs to charge a price that new entrants in the internet business can never possibly match because it’s literally under cost. And because this market is essentially impossible to enter, these monopolistic telecoms are able to charge just about whatever they want.

Is there really a problem with bandwidth?

Well, yes and no, bandwidth isn’t the real problem. The real problem is that what’s being sold is not actual bandwidth but, rather, the option to use bandwidth. It’s like fractional reserve banking, but in this case, it allows them to sell at a price that nobody can beat while still screwing their customers.

You describe PKT “like Bitcoin, a decentralized cryptocurrency with no CEO, no pre-mine, and no venture capital.” Can you tell us more about the way the platform is set up and the philosophy behind it?

The vision of PKT is to decouple the technical and administrative aspects of an ISP