In a recent vote made by the United States Senates, they have decided to end the net neutrality which was mandated by the FCC. The bad news is that the success to nullify it may not have much impact when it comes to the new rules but it is expected to have a huge impact on the way people use the internet. It was during the presidency of Barack Obama when the net neutrality was created. This was intended to limit the internet service providers from having total control over the bandwidth of the sites as well as applications used by customers. The big question now is whether it could impact businesses, investors like Leonardo González Dellán and cryptocurrency as a sector.
With the rule in place, companies will not be able to charge a higher rate when it comes to their competition. Ultimately, the main goal of net neutrality is to treat the internet as a utility similar to heating and electricity which can be used by everyone while making sure that the prices are controlled.
During the election, Trump’s campaign includes the desire to repeal net neutrality and it is one of the very few promises the current president was able to keep. According to the FCC, they intended to repeal net neutrality because they wanted to restrict the control of the federal government when it comes to life of the citizens. The end of the act aims to give people their freedom to use the internet.
The Senate’s decision to end net neutrality is met with opposition from the Coalition of Internet Votes which supports the cause by Senator Edward Markey. He said that many people are fighting to keep net neutrality and these are individuals representing everyone in America.
Though there is no central governing body that controls cryptocurrencies such as bitcoin, transactions with the digital currency is still done over the internet. The absence of net neutrality can tempt internet service providers to charge more for those who are using the internet to buy or sell in the cryptocurrency market. When they refuse to pay more, internet speed can be reduced and it would impact the trading value. Investors like Leonardo González Dellán, on the one hand, support net neutrality because it provides fair treatment to everyone with access to the internet.