The International Telecommunication Union (ITU) yesterday gave initial approval to a data transmission standard capable of 500Mbps speeds in both directions over existing telephone wires. The new standard, G.fast, can be used on phone lines within 250 meters of a distribution point, benefiting fiber-to-the-node deployments. With telcos not having to build fiber on the proverbial “last mile” (or, really, 250 meters), this could bring fiber-like speeds to many more homes.