Smart cities’ use of blockchains driving urban efficiency

The concept of smart cities revolves around leveraging advanced technologies such as the internet of things (IoT), artificial intelligence (AI) and big data to create efficient urban systems that enhance the quality of life for residents; these cities are designed to improve urban resource management, sustainability and governance. However, although the complexity of urban systems poses significant challenges, including data silos, inefficiencies and privacy concerns, blockchain technology offers a transformative solution to these difficulties. As a decentralised, immutable and transparent ledger, blockchain has the potential to revolutionise how cities manage data, processes and transactions. In addition, by providing secure and automated systems, blockchain supports the goals of smart cities whilst also ensuring trust and accountability among stakeholders.

Blockchains being used by smart cities

Source: TeamBlockchain

The UN predicts that, by 2050, 68% of the global population will live…