Smart City is a smart city using modern technologies, including IT, to raise the awareness and comfort of residents' lives. Such a city invests in human and social capital as well as in communication infrastructure, striving for sustainable development and raising the quality of life of its inhabitants.
Blockchain in Smart City
One of the technologies that can help Smart City develop Blockchainif only because of the security with which this technology is tied. Blockchain guarantees that only the owner has access to their data, and hence, it is effectively protected against theft of these data, as well as cyber attacks.
This is due to the fact that transactions in the Blockchain system are distracted and are not monitored by the main intermediary, and there is no intermediary verifying these data.
Thanks to the decentralization of the Blockchain system, the user's financial transactions are also protected.
Development Smart City it will take place in several areas:
Cryptocurrency market it develops intensively and thanks to Blockchain it will be possible to create a local "urban currency" that will allow its residents to invest in the city. Already in 2020 year Dubai wants to be the first city in the world to use Blockchain technology in financial processes.
Blockchain technology will allow voting and access to the results of the elections to the city authorities in real time.
Blockchain technology allows creating one coherent system offering transport services, including booking travel, buying tickets or renting a car. This will facilitate the use of such services and reduce costs, but it will also create the possibility of fair competition for entrepreneurs. Blockchain is a system that can be used by both users and entrepreneurs.