Events | November 16, 2018
Blockchain in the Smart City
Technology and the city are inseparably connected. In cities, new ideas are born, and the latest technological innovations are adapted. That’s why people want to live in cities, because there they can count on a better future. However, today’s cities are far from utopia – there are places struggling with serious problems. Hence the repeated efforts to harness technology for the benefit of people living in cities, such as implementing the Smart City concept. One of the technologies that many people view as a great hope for the future is blockchain.
According to the latest trends, a Smart City is not just technology, but (most importantly) people too. This means that the most important goal is to search for solutions that will always feature people and the community at the center of their activity.
To do so, cities have to become more transparent. With all its technological advancement, the city must be a place that residents can understand. So the civic authorities must be open and allow citizens to participate in decision-making as often as possible. Technology is of course meant to help out here. However, if this technology is to be effective, it should be secure first and foremost, meaning resistant to manipulation, data theft and cyber-attacks. No wonder, then, that the Smart City is increasingly focused on blockchain.
Blockchain is technology which guarantees that only the owner has rights to his data, without the risk of theft and manipulation. The system allows you to protect not only personal data, but also any transaction, guaranteeing its security. Verification in blockchain technology is multi-stage and only the owner of the data is able to complete such verification.
Possibilities for applying blockchain in Smart Cities
Blockchain offers the opportunity to create innovative solutions and services in urban, local and global space. Thanks to the launch of the local cryptocurrency, it is also possible to create a system in which residents or the city are investors in it too. Dubai wants to become the first city to use Blockchain as a source of funding by 2020.
Blockchain technology allows continuous voting, which allows you to cast or change your vote in real time. The results are also available in real time, which allows the public sector to react to the decisions made.
Mobility as a Service
Blockchain allows users to combine all companies offering transport services into one system, which allows users to order a taxi, buy a public transport ticket, as well as rent a car, bike or scooter. On the one hand, it makes things much easier for residents, offering savings on the costs of cards, tickets, and reservation systems; but at the same time it opens up the possibility of creating a system in which all entrepreneurs will be able to compete with each other on an equal footing.
Blockchain vs Uber – who does the future belong to?
Why is blockchain better than the networks currently is use? Because it is scalable and universal. This means that, unlike Uber for example, blockchain is an open model that can be used by anyone, and everyone can take full advantage of the solutions and technologies offered – both as a user and as an entrepreneur. It has been predicted that in the future we will deal with the Internet of Blockchain, which will complement solutions from the Internet of Things.