Monday, January 29, 2018

The 5G Economy

There are new ideas around that the U.S. should engage in a possible 5G nationalized network that is either built by companies or the government itself. While experts have brought forward the idea that companies building this network doesn't protect the economy from foreign hackers. However, there are other considerations why this may be the best long-term approach.

The first is culture. There is a general push back against nationalized anything. We just don't like such powerful institutions being in the hands of government. All of the countries, and much of the worlds, data in one place may not sit well. Having companies manage this network makes more sense from a historical and economic background.

There are some issues of security but there are abilities to regulate the security of this industry by using the largest carriers of the networks to run this system according to government rules. Smaller industries can rent the system like any others but security is managed by an independent system.

The biggest advantage is growth in innovation which often leads to more jobs and opportunities. A large system like this will naturally influence on information movement, e-commerce, business networking, and the amount of content for consumption.

This would definitely be a big movement forward in our data infrastructure. It is one of the things that could have a big impact on multiple aspects of society. As data infrastructure improves so does the overall environment that businesses operates in and can have a larger organic approach to improving GDP.

There is also the issue of competitiveness and investment. Companies want highways, roads, sewer, trash, etc... In the United States we have fairly solid systems in place for everything except data infrastructure. We are not there yet in terms of a cohesive system. By putting in place a strong national data structure we are helping to ensure we are covering the needs of businesses in a way that can lead to greater investment on a local and national scale.

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