MyRepublic's 'Gigatown' will offer 'ultra-fast' 1GB internet speed in Australia

The Australian branch of MyRepublic will offer its first "Gigatown" to consumers. The new promo will be offering ultrafast 1GB to its customers. This may be able to answer the internet connectivity problems of some consumers and small business owners.

MyRepublic managing director Nicholas Demos explained the push for the new ultrafast internet plan in Australia would likely help consumers get access to more data than those offered by the National Broadband Network (NBN).

"Since our launch in November 2016, we have signed up 15,000 customers with 99 percent of our NBN customers provisioned on the NBN100 speed tier," Demos added. This speed tier offers line speed of 100Mbps download speed and 40Mbps upload speed. Unfortunately, 83 percent of Australia's NBN customers actually fall on the NBN25 tier, which has speeds of 25Mbps for download, and 5Mbps for upload.

Australia's NBN offers four speed tiers when it comes to internet connectivity. These are NBN12, NBN25, NBN50 and NBN100. In turn, these tiers also offer their respective data speeds.

The "Gigatown" concept is actually a competition that aims to have a winning town in Australia have ultrafast internet speed. MyRepublic customers in the winning town will get speed upgrades for a year.

Interested participants will only have to sign up the company's petition for the government to provide Australia with better connection speeds. The country is ranked 51 in the world when it comes to internet speed. It is behind Kenya, Lithuania and Bulgaria.

According to Deal Street Asia, MyRepublic started in 2015 with 30,000 Singapore-based subscribers. The company also claimed to have acquired another 90,000 subscribers from Singapore, New Zealand and Australia. MyRepublic has not released a recent subscriber count for Australia, New Zealand, or Singapore.

According to a press release in Tweak Town, the company has helped Singapore and New Zealand get affordable 1Gbps speeds by lobbying for lower connection prices. The piece added that 95 percent and 50 percent of MyRepublic customers in Singapore and New Zealand, respectively, order the available 1Gbps plan.

MyRepublic also said that while the NBN has already launched a 1Gbps wholesale option for consumers last 2013, Australian providers have not launched this "as a consumer facing product." The company added that because of wholesale pricing, a monthly 1Gbps plan can cost $300 per month.

MyRepublic's monthly retail price of the same 1Gbps option would cost SG$49.99 in Singapore, and NZ$129.99 in New Zealand. The company hopes the petition that will go with the "Gigatown" concept may push for more affordable internet options.