Its neither the US, nor China, Japan or South Korea. A land locked state measuring not more than 24 square miles is going to be the world’s first country with nationwide 5G network. The tiny Republic of Europe has struck a deal with Telecom Italia, which aims of making San Marino the first European country to be upgraded super-fast fifth generation(5G) mobile network.

This 5G will produce a much higher speed and response times than 4G networks, which rule the current scenario and wireless companies have already sensed this as a million dollar opportunity, in spite of the international standards for 5G, which ate yet to be finalized.

Details of the agreement:

According to the MOU (memorandum of understanding), signed between San Marino government and Telecom, it aims at switching the existing 4G network to a full nation-wide 5G trial system by the end of 2018, which would increase the speed by almost 10 times. Also, a part of the agreement states that the operator will deliver smart city services, security, virtual reality for tourists and automated manufacturing solutions.

As per Andrea Zafferani, Industry Secretary of State for San Marino, the services, and applications that would be created from the inception of 5G would support the immediate future of both industry and society in San Marino.

A recent survey by European Commission estimates that the development of 5G development calls for an investment of 56.6 billion euros, but in turn would create 2.3 million jobs in Europe by 2020, when this high-speed connectivity would be fully accessible throughout the country. In addition, the study has also calculated the further benefits of 5G that would yield good results in automotive, healthcare, transport, and utility sector in Europe, estimated to reach up to 113 billion per year.

Lastly, to quote the words of Giovanni Ferigo, the Head Of Technology at TIM, “We are among the first in the world to invest in the development of new ultra broadband networks: they are the future, fast connections and the development of the city. When we talk about big data, digital identity and the Internet of Things, we are aware that underlying all this there is always the quality and speed of the networks.”