Google's Project Fi aims to combine the best of LTE, Wi-Fi

Finally and officially, Google (NASDAQ: GOOG) has unwrapped its "Project Fi" MVNO in partnership with Sprint (NYSE: S) and T-Mobile US (NYSE:TMUS).  

Currently, the service work only with a special SIM card for Google's Nexus 6 smartphone, which was designed by Motorola Mobility, and the service is by invitation-only at this stage.

But it's got some snazzy technology that the industry has talked about for years but struggled to take mainstream. Google said its technology intelligently connects customers to the fastest available network at their location, whether it's Wi-Fi or an LTE network. Project Fi automatically connects users to more than 1 million free, open Wi-Fi hotspots that Google says it has verified as fast and reliable and that Google will encrypt once a user is connected, reports DroidLive. The system uses a virtual private network (VPN)--no password required, which is a key part of making the service consumer-friendly.

If a customer leaves an area of Wi-Fi coverage, Google says calls will seamlessly transition from Wi-Fi to cellular, and the customer's phone number lives in the cloud. For more, check out this FierceWireless article.