There are certain things people are expected to know regardless of their area of core competence. One of such is the concept of monopoly and competition in economics. Knowing this will enable you to understand how economic policies affect you.
Speaking of the economic concepts of monopoly and competition, you should think about who benefits most when any of these are implemented. When it is a competitive market, the consumers are the biggest beneficiaries.
On the contrary, the service provider is the biggest beneficiary when it is a monopoly. This is because the consumers are short of options as only one player is responsible for providing the goods or services.
This is just one of the disadvantages of a monopolistic market as there are several others. Some of the other disadvantages include how the prices of the goods/services might be unfavorable and cannot be challenged by consumers. This is because there is only one player involved as explained above.
Bearing this in mind, you should now understand how the monopolistic structure of the internet service industry does not favor consumers. This industry is not monopolistic in the sense that there is only one internet service provider involved.
Rather, it is how consumers do not have a choice other than to work with such a centralized structure that has taken undue advantage of them for a long while. Well, the good news is that this is about to change. Or better still, it is already changing as things are already in place to change the narrative.
The solution is not the coming of another internet service provider like the many others that are already in operation. Instead, it is the possibility of making the system decentralized and solely determined by consumers.
This is what the PKT network is offering and everyone can play a huge part in making this happen. More light will be shed on this here and so you should keep reading to be better informed.
How Does the PKT Network Work?
The PKT network is a contribution and reward system for people that offer their excess network bandwidth to this decentralized system. The reward for offering the bandwidth is a payment with PKT cash.
The contributed bandwidth is used for a couple of things. First, it is used to mine blocks based on the Blockchain system. There is also a part of it that is dedicated to building state-of-the-art networking infrastructure in the best interest of consumers of internet services.
The fact that it is a decentralized rather than centralized system is one of the biggest benefits for consumers. And you should not forget how you can be rewarded with PKT cash for your excess bandwidth contributions used to develop the system. More information about this can be seen in PKT.cash and you can visit the site for more information.
The Benefits for Internet Service Consumers
There are loads of benefits for consumers that take advantage of the PKT network. Some of them include the following:
Better Internet Service
The ISP industry is monopolistic in a sense as explained much earlier. As a result, these service providers do things in their best interest and this sometimes conflicts with the consumer’s best interest.
One of the ways this plays out is by overloading internet service infrastructures. You can imagine placing 800,000 people on an infrastructure designed to service 500,000 people. Well, you would be surprised to know these companies in the ISP industry do even worse than this.
This is why the network can be very unreliable at times. Well, the PKT network is committed to providing better internet service to people at large.
Cheaper Internet Services
Many of these internet service providers rip consumers off because of the centralized structure of the industry. This is going to change when networks like the PKT network gain a foothold. The good news is that this is going to happen. You should only make sure you are a part of it.
Earn from Your Spending
The excess bandwidth you have as a result of the need to purchase more than you can use from the centralized ISP industry can be put to good use. You can offer them to the PKT network and earn PKT cash as a reward for doing this. This is before the excess bandwidth expires.
This article has discussed some of the benefits of the PKT network. However, there are even more. For more on this subject, you can read this article.
Considering that you stand to benefit this much, you are advised to take advantage of the PKT network. So, you should start taking action from now on.