The fact sheets on the NBNCo site say they are proposing a "
Passive Optical Network (PON)"
Quote:
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A PON uses small dedicated optical fibre runs from the home to a small cabinet in the street, known as a Fibre Distribution Hub (FDH). In this cabinet the individual fibres from a small number of homes (normally less than 32 homes) are combined together into a single fibre back to the central equipment (akin to a telephone exchange for fibre services)....
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So messages sent from the exchange are essentially broadcast to all 32 homes sharing the same FDH using a beam splitter out in the street, and it uses encryption to stop eavesdropping. Messages send from your home to the exchange are more point to point, so they can not be intercepted so easily.
It will be interesting to watch this colossal project unfold.
James