I am intrigued by the part about establishing a worldwide 100 kHz timing signal first using existing government owned radio spectrum, and being able to sell it as a backup source for GPS timing. That could bring in billions of dollars. Would it be profitable? Of course, linking that word and government has a rather poor track record.
The average person has no idea how dependent our society is on the GPS timing signal. It is intertwined with literally everything around us, allowing events timed in nanoseconds to operate in concert.
If it were to fail one day, there would be unbelievable chaos in just about every system and industry. I can't even begin to list the specifics. A data center literally cannot operate without it. Cloud computing systems worldwide would collapse.
Global manufacturing would stop. Stock markets and banking sectors in every country would be unable to function, and every computing system connected to the internet would be affected. In fact, the internet would just quit working.
Before I retired, I was a principal in a general and electrical contracting business which built large data centers. The GPS antenna location, the routes and methods used to bring that signal into the rack space, and the protection and security of the system were extremely critical in even the smallest facilities.
Since I no longer deal with this issue, I wonder to what extent the Russian GLONASS system is being used as a backup timing system in today's world. Would someone in the industry care to share their perspective?
I ask because my cynical side is considering the cost of implementing a new system paid for with deficit spending while GLONASS could be integrated tomorrow.
As for general aviation, if a modernized LORAN system appeared tomorrow, making it work in your airplane would be similar to what the adoption of ADS-B has necessitated. In other words, you would have to shell out an uncomfortably large sum of cash.