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Need to deregulate like the telephony industry in 80's, then allow consortiums to lease the lines that have been laid down. But, yes, someone could just turn it all off because it's decentralized. Would we then have to look into creating an entirely new internet?

At the end Yes. That's why we are pushing our R&D in IPFS and mesh net to become free of HTTP, SSL and DNS. check out our channel at @bitshares-munich