The “smart cities” of the future, which are already popping up from the U.S.’s east to west coasts, require municipal leaders to plan differently – cutting costs, streamlining processes, and incorporating “green credentials according to developers.” Techopedia reported that the smart cities of tomorrow are integrating blockchain technology to enable data agility and security among IoT devices.
Smart cities are fueled by data exchange, from traffic management to criminal justice, but some of that information must remain private as it is shared between systems. According to Techopedia, “blockchain (a distributed ledger technology or DLT) offers several advantages when it comes to sharing and combining data without compromising trust or security.”
Once data enters the blockchain ledger, it becomes more difficult for hackers to tamper with the information. Sophisticated software also provides data on a “need-to-know basis,” ensuring privacy where required.
According to the Multidisciplinary Digital Publishing Institute, which released a paper on blockchain, five areas that could benefit from the technology include energy trading, healthcare, electronic voting, supply chain, and real estate. The overarching benefit is security.
Techopedia reported that a key feature blockchain brings to smart cities is decentralization. Services that enable quality of life — like transportation, healthcare, and education — will benefit from blockchain with fast-paced, private data flow. Blockchain tools could help cities implement smart technology at the speed and scale needed to satisfy urban populations. Will some of the top smart cities in the U.S. — like Boulder, CO, Pittsburgh, PA, San Francisco, CA, and Louisville, KY — be early adopters?
Although blockchain technology is an emerging technology, the Urban Institute already warns that adoption might not be equitable. Implementation strategies should account for how blockchain will affect different communities and demographics. Other critical planning elements should include community input and a competitive developer selection process, reported Techopedia.
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