Kim Dotcom announced plans for a decentralised internet called Meganet in June.
During an appearance at SydStart today, he expanded on how Meganet will harness the power of mobile phones to operate.
Blockchain, the technology behind Bitcoin, works using a distributed network of “ledgers” to record transactions. The ledgers are run by Bitcoin miners doing a series of mathematical problems, and they receive Bitcoin as compensation.
Dotcom claims to have invented a new form of the blockchain, which is both faster and less data hungry, that will run on the devices of users to power the new network.
“If you install the Meganet app on your smartphone in the future, what you allow Meganet to do is to use your smartphone when it is idle, to use the processing power of your smartphone”, Dotcom said.
“Now if you have a hundred million smartphones that have the Meganet app installed we will have more online storage capacity, bandwidth and calculating power than the top 10 largest websites in the world combined, and that is the power of Meganet.”
“Over the years with these new devices and capacity especially mobile bandwidth capacity, there will be no limitations.” said Dotcom.
He was speaking at SydStart, Australia’s largest startup conference, which is run by online work marketplace Freelancer.
Follow Business Insider Australia on Facebook, Twitter, and LinkedIn