Mark Fowler, formerly the chairman of the U.S.'s Federal Communications Commission and now a Rivada board member, oversaw the breakup of AT&T's telephone services monopoly in the 1980s, and described Rivada's platform as part of an ongoing "evolution" in global asset-sharing.
"In the 1920, radio stations started to interfere with each other, so they were granted exclusive use of radio frequencies… like a walled garden… This is the 21st century evolution where walls are knocked down," Fowler told CNBC.
(Read more: FCC will not appeal defeat in Verizon internet access case)
Ganley believes his platform could help lower barriers to entry and increase competition in the wireless space. It could also bring a new asset class to Wall Street — a prospect that has garnered the support of some banking professionals.
One senior hedge fund professional, who wanted to remain unnamed to maintain his fund's impartiality, told CNBC that the commodification of the wireless market could see it become as big as that for oil futures. He foresaw wireless one day being traded on the Chicago Mercantile Exchange (CME) — one of the world's largest commodities exchanges.
"This will not happen overnight. It could take five-15 years to get global, to get something like the oil market. It has the same potential though," he said.
(Track: Commodity futures live with CNBC)
New kids on the grid
The ability to buy bandwidth in tiny, time-specific — and cheaper — chunks could see multiple new entrants to the market. Ganley said that any company which needs bandwidth to deliver its consumer business might be interested, including social media giants like Twitter and Facebook, technology firms like Google and Samsung, or even online gaming companies.
The platform could also help combat the bandwidth crunch in city centers, with smartphone users, for instance, no longer having to struggle to gain wireless internet access in areas like of London's "square mile". To cope with the problem, carriers could purchase extra bandwidth to cope with higher demand at busy times of day in busy locations, and then sell it an hour or two later.
(Read more: Brazil, EU plan to build undersea cable)
Ganley hopes that early adopters of the technology will include public safety agencies like fire brigades and hospitals.