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Rural Canadian town developing nation's first 1Gbps internet service

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All you cool city cats on DSL, eat your heart out -- a 1Gbps fiber internet service will soon be speeding up the lives of 8,500 residents in Olds, a rural community in Alberta, Canada. Around 60% of the populace can sign up for the $170 / month plan at the moment, but a new pricing scheme will bring it down to $57. That's cheaper than Google Fiber, folks, which is made possible by the fact that the town itself owns the service. In fact, it's the Olds Institute for Community and Regional Development (a non-profit) that took the bull by the horns, securing a $2.5 million grant from the Alberta government and a $6 million loan from the town itself to fund the fiber network construction. It's thanks to the town's authorities that the residents can soon rid themselves of crappy internet, while the rest of us can only look on in envy.

[Image credit: Barta IV / Flickr]

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