The internet is arguably the most utilized tool globally today. For execution of financial contracts, learning, organization and individual publicity, the list of application is nearly endless. But for the timely invent of English-born Sir Timothy Bernards-lee, i dread to think of how things may have turned out for us. Anyways, that was several decades ago.
The internet has morphed from being just a regular invention to a must need in virtually every aspect of life.
It promises us something even greater-the Internet of things. Few years from now, the world as we know it, would entered a whole new era.
BI Intelligence, Business Insider's premium research service, expects there will be more than 24 billion IoT devices on Earth by 2020. That's approximately four devices for every human being on the planet.
Internet of things is used to describe the embedment of all sorts of programming that enables connectivity or access to internet into our everyday gadgets and appliances like alarm clocks, phones, cars, light bulbs, wearables, etc.
IoT is still very much a futuristic thing, as only an infinitesimal chunk of these devices have it in incorporated in them. Even worse, very few people know about it.
IoT is believed to be the pedestal upon which the world of endless possibilities will be built. All devices would be able to commute in a manner that betters the life of the average man. Simply imagine being exonerated from the stress of having to man the steering wheel in order to drive an hour-long journey home after a long, field-day. This is what the advent of IoT promises. It would be like heaven on earth.
Bandz is an extranet project that is envisioned to create a market where bandwidth data is made cheap and readily available irrespective of geographical location.
It is incredible that despite the massive scale of technological advancements recorded in IT yearly, most internet service providers are still being hampered from delivering broadband internet coverage and this arises from varying geographical location.
It is that bad that when a tourist for example, travels out, he must be prepared to bear the brunt of purchasing bandwidth at an expensive rate if he seeks to access the internet. Even worse, WiFi and Internet service are very poor if they have to stick with same the ISP.
Basically, Bandz solution aims to make internet more accessible to the average man, even to the uttermost ends of the earth and at a relatively cheap rate. How?
The internet birth the blockchain. Now, the blockchain will give rise to the internet.
Bandz is going to be powered by blockchain technology, so the issue of trust is nothing to worry about as all operations would be executed in a secured manner. Aside, there are several other perks to Bandz solution
Decentralization
As of today, the business of providing internet service is largely centralized and internet users have no choice in the matter. The cost of data is therefore dictated by these few.
To cap it up, there is the issue of poor network coverage which is common in areas wherein there is scarcity of infrastructures.
The advent of Bandzwill however nip this challenge in the bud. How?
Bandz intends to bring the following into fruition by partnering with ISPs. Afterwards, it would be made available on the Bandz market, where it can be exchanged for a token. Beyond, bandwidth can then be exchanged among peers. This singular act eliminates the problem of poor coverage due to lack of infrastructures. And, this is good news for all concerned parties- the users would enjoy better experience, while ISPs would be afforded an opportunity to grow consumer base.
Mesh networks
This avails for cross-linking of system networks in such a manner that information can always be lent one to the other for overall better user-experience. It would save time and resources.
Virtual private network
The internet is no doubt one of the greatest milestones of all times. But with it came the vulnerability of users to viruses, hacks and loss of personal information. Then, Vpn was invented. Through its tunnel feature, users are able to enjoy privacy whilst browsing.
Quite a number of these third-party organizations that virtually protect the end-users usually have access to their personal information. By virtue of this, some of these third parties sell out customer information.
With Bandz however, total security is absolutely guaranteed.
Coupling of Intranet and Extranet
Intranet refers to transmission of information within a local network or organization. It usually involves dissemination of information that is too crucial to be made public. E.g correspondences and memo.
Extranet on the other hand, describes a system of networks under no single umbrella, which are connected by the nature of their unique interdependence. A very good example is when an organization has to lease its accounting information- revenue and expenditures to an external accounting or audit form. This kind of association is described as extranet.
Bandz will be coupling both network types on the market in a bid to serve the end-user better.
Peter travelled down to sub-saharan Africa for a meeting with UNICEF representatives. The meeting took quite a while, so he had to wait out the night before returning home. He had been trying all evening to access the internet, to no avail. He soon realized that it was a coverage issue. Thankfully, the hotel wherein he was lodged was more than willing to help, they were shrewd to have adopted Bandz. They simply exchanged Peter some bandwidth using Bandz, for some token.
The good thing about these tokens is that, they can in turn be used for payment of some other e-service or can be cashed out.
Bandz would undoubtedly eliminate roaming charges and help fast-track development in rural areas. It would also go a long way in bringing IoTs to the fore. Indeed it is the beginning of a new thing.
You can also learn more by following these links:
Bandz Website
Bandz Whitepaper
Bandz Team
Click the link below to participate in this contest
https://steemit.com/crypto/@originalworks/470-steem-60-bonuses-sponsored-writing-contest-bandz
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