Interesting question about spectrum as an asset after my Ofcom post. It is an asset to the extent we accept physical metaphors. I compare it to Taxi medallions that were assets until Uber. Then we find out that the whole medallion market was propped up by unsavory characters.


I spent some time in the world of finance and one of the big ideas has been the inventions of “instruments” or financial assets such as bags full of mortgages (don’t look inside the bag!). Even the land itself is not usable as collateral are options on use that might be. The casino thing was one example with its own host of problems.


What happens to spectrum-secured loans when we move past it?


Bob Frankston


From: <> On Behalf Of Jane Coffin
Sent: Monday, September 23, 2019 10:13
To: Dynamic Coalition on Community Connectivity <>; Mariel Triggs <>; Matthew Rantanen <>
Subject: Re: [DC3] Investment on community fiber from Ethical bank


Hi Leandro –


I never responded to this note.

A few observations and cc’ing Matt Rantanen and Mariel Triggs (both are working with/on tribal CN solutions).

Spectrum is considered by some funders as an “asset” (even where the community may be a “steward” vs “direct owner” of the spectrum).

Loans can be secured when a community has a spectrum allocation.


On land as an asset:  For many/most US tribal communities, tribal land is sovereign and can not be put up as collateral for loans.


Matt/Mariel – is there more re what is bankable from your experience? 






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From: <> on behalf of Leandro Navarro <>
Reply-To: Dynamic Coalition on Community Connectivity <>
Date: Tuesday, July 30, 2019 at 6:44 PM
To: Dynamic Coalition on Community Connectivity <>
Subject: Re: [DC3] Investment on community fiber from Ethical bank


Thanks, (and a request for more cases below if you read the details)

To me it is a great proof of the level of maturity a CN can achieve. The offer document is a perfect example of how a community infrastructure can be attractive not only to the local beneficiaries, but also to anyone attracted by social impact and ethical investment. The lesson to me is just how encouraging it is to see that there are ways that work in the really hard case of successful ethical investment.

What works for cooperative fibre there, works similarly in with the XAFOGAR project with public/private investment, (page 99), can work too for IXPs, distributed IXPs like what or REMIX (Scotland) does, or what other cooperative fiber networks can do.

Do you know of any other "bankable" network infrastructure? (including access, distributed IXPs, open-access wholesale networks).

This is in the context of these slides (slides 6, 7 show different models and layering of optical networks), prepared for IETF 105 but saved to the next IETF 106 due to lack of time in a very interesting session chaired by Jane and me in Toronto. If you give me examples I can add them to the collection for a WIP document.

In fact, I am writing this from home with my IP address, one of the cases in these slides, a 600 Mbps optical network connection using the Telefonica NEBA (VULA/Bitstream) wholesale service to reach the exchange in Barcelona, operated by, the Barcelona volunteer association as part of

All the best, Leandro.

On 30/07/2019 11:33, Jane Coffin wrote:

Leandro -
Thank you very much.
Critical to use this example and work with investors moving forward for CNs and small local access nets.
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Skype:  janercoffin
Mobile/WhatsApp:  +
On 7/30/19, 3:01 AM, " on behalf of Leandro Navarro" < on behalf of> wrote:
    From Triodos, a pioneer in ethical banking
    They offered a round of investment open to the public in the B4RN rural
    community fibre. You can see they reached 102% of the target investment
    (3 Million GBP) in this public call:
    In the offer document you can see the description of the initiative for
    potential investors. They offer 4.5% interest rate for an investment in
    7 year term. The call it seems is still open for another month but
    oriented to UK residents. A proof that CN proposals can be both feasible
    and sustainable in financial (bankable) and local impact.
    All the best, Leandro.
    DC3 mailing list


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