The Australian government has announced that it will provide about USD 6 million in grants for a blockchain-powered smart utilities project, which will be set up in the City of Fremantle. The pilot has been set up to explore how cities can use blockchain technology and data analytics to power distributed energy and water systems.
The trial will involve highly resilient, low-carbon and low-cost systems installed and connected using blockchain technology. A large solar photovoltaic (PV) plant, rooftop solar PV panels, a precinct sized battery, an electric vehicle charge station and precinct water treatment and capture systems will be orchestrated using blockchain technology and data analytics, and demonstrate the interconnected infrastructure of Smart Cities. Onsite energy generation at water treatment systems will also circumvent the need for costly distribution overhauls, as they are due for a $3million upgrade to increase capacity. The project will provide the community with financial and service sustainability while still engaging the private sector.
That’s an interesting example of how blockchain technology can support Smart City evolution – more about the so called tokenomics in this article by William Mougayar.