NBN stands for National Broadband Network (NBN) a national open-access data network that is currently under development in Australia. It’s replacing the existing system and promises to provide us Aussies with fast Internet and phone access.
The National Broadband Network (NBN) is an initiative created by the Federal Government that’s currently being rolled out to provide every home and business in Australia with a fast and reliable internet connection, no matter where you live. The goal of this initiative is to install a broadband network that covers ninety-three per cent of Australian territory, by the year ending 2019, with the remaining regions being covered by wireless technology. The cost of the NBN will be covered by the issuing of Australian Government Bonds, which will be sold to investors where in the gains in interest will be used to repay the debt.
While it was originally intended to provide fibre-optic connections to almost every user, the current federal government has changed the scheme to be “mixed technology”, using fibre, copper phone lines or Foxtel and Optus’s pay TV cables.