Back in the 1960s, the race was on between the United States and the USSR to see who could get to the moon first. That high-stakes competition ushered in a new era of space exploration featuring incredible levels of ingenuity, creativity, and scientific mastery. Now, decades later, we are on the verge of yet another space race – the race to build a satellite network capable of bringing the Internet to the estimated 4.4 billion people currently living without access to the “world wide” web.

The company most invested in providing Internet access to the entire planet is ‘net behemoth Google. Through at least two initiatives of their own and a recent $1 billion investment in SpaceX, Google has made it clear that connecting the globe is a serious priority both in the immediate future and beyond.

At the moment, three major efforts are being made to connect the globe to the power of the Internet. And while each has a similar short-term mission, the future applications of each is impressively distinct.

Project Loon

Adopting an innovative – if unorthodox – strategy, Google’s own Project Loon aims to make the Internet more widely available through the use of giant balloons. These special high-altitude balloons are launched into the stratosphere (around 20 kilometers above the surface of the Earth) where they float safely above the danger of airplanes and unfavorable weather. Though it sounds strange, the project is actually ingenious.

Google’s hopes are that Project Loon will provide an inexpensive method for increasing the coverage area needed to bring the web to inhabitants of especially remote areas. The balloons in question are designed with an algorithm utilizes natural patterns of sub-atmospheric wind to ensure that consistent coverage is provided when and where it’s needed most. In effect, the balloons form an enormous communication network that may one day span the entire globe.

In addition to smart programming, the balloons are solar-powered and can provide Internet coverage to an area around 40 kilometers in diameter. By partnering with numerous telecommunications companies, Google hopes Project Loon can use wireless LTE technology to allow people within the coverage area to connect to the web from phones and other mobile devices. The first tests for Project Loon began in the summer of 2013 in New Zealand and have since expanded to cover more ground. The results are have promising, meaning that balloons may be a big part of the Internet’s future.

OneWeb

Led by former Google innovator Greg Wyler, OneWeb looks to bring the Internet to billions through a massive satellite network, one they say will be the largest in the world. Wyler is no stranger to delivering the Internet to remote areas, having set up Africa’s first 3G cell network. He also founded O3B (another company dedicated to bringing the Internet to the entirety of the mankind) before being recruited by Google to head an in-house initiative with the same goal.

OneWeb’s plan includes launching nearly 700 satellites into space, creating a network built to provide high speed Internet at a low cost. The project has already receiving up to $2 billion from financial backers like Qualcomm and Virgin Galactic, with the latter providing use of its LauncherOne program to put the satellites into orbit.

Though still a few years behind Project Loon, OneWeb’s more advanced technology promises far more complex network security and a broader overall reach (it could become a truly worldwide provider, rather than solely focusing on underdeveloped areas.) The OneWeb project has also cleared another important hurdle that remains in place for competitor SpaceX — obtaining the rights to the spectrum needed to deliver the Internet from space

SpaceX

The latest venture for billionaire Elon Musk, SpaceX has already made a splash with its work to advance private space travel. It should come as no surprise, therefore, that the company is a major player in the race for worldwide Internet. Musk’s project is similar in design to that being worked on by OneWeb, Musk asserts that his undertaking will be “an order of magnitude more sophisticated than what Greg (Wyler) wants.” In fact, some reports have indicated that Musk and Wyler were interested in partnering, but disagreements over technology and Wyler’s refusal to give up a large stake in O3b broke off any partnership.

Instead, Musk has pushed ahead, stating that he believes “there should be two competing systems.” This competition will be bolstered by the recent $1 billion investment recently poured into SpaceX by investors Google and Fidelity.

The biggest hurdle remaining is the rights to a broadcast spectrum like the one that OneWeb has already locked up. Richard Branson, whose Virgin brand is a key OneWeb investor, believes this could be a dealbreaker for SpaceX. “I don’t think Elon can do a competing thing,” Branson says. “Greg has the rights, and there isn’t space for another network — like there physically is not enough space. If Elon wants to get into this area, the logical thing for him would be to tie up with us.” Musk has instead “discussed using optical-laser technology in his satellites,” though lasers (which can’t pass through clouds) would be a far less reliable method of delivering a connection. Undaunted, Musk says the first stage of the project could be done within five years, but later stages may expand the scope beyond Earth. The long-term goal for the project is to expand a connected network all the way to Mars, where Musk hopes to build a colony in the not-too-distant future.

With billions of dollars in financial backing, all three of these projects seem poised to achieve the goal of delivering the Internet to the entire globe. And for the first time in decades, a new space race has the potential to radically change the life of billions here on earth.

Rick Delgado is a technology commentator and freelance journalist.