Blockchain for Smart Cities booming in Asia

By 2 July 2019Scenario
blockchain-based

Blockchain is being extensively piloted in Cities all over the world to improve a number of public services relying on accurate, secure, authentic and trustworthy transactions and information exchanges. From energy distribution to waste collection, from tax filing to property, real estate and business registries, up to voting systems, blockchain-based solutions can make Smart Cities far more secure, transparent, efficient and resilient.

Blockchain is experiencing a particularly vibrant season in Asia. As a matter of fact, blockchain is the fastest growing skill required among professionals in Singapore, and among the top three in China, Japan, Taiwan, South Korea, Hong Kong, and Vietnam, says a recent report by job-focused platform LinkedIN.

Looking for examples of smart Asian blockchain projects? In Shanghai, the Yangpu district will develop a low-power wide-area network to provide wireless services to connected IoT devices, and increase efficiency in public administration access. In Hangzhou, the automotive company China Wanxiang Holding has been working on a blockchain-based infrastructure to monitor and improve safe driving behaviours: the idea is to collect real-time data from road vehicles, detect and penalise traffic rules violations while rewarding responsible drivers.

Infocomm Media Development Authority launched a public consultation in Singapore to review its proposed Electronic Transactions Act, that would enable property transactions and manage legal documents through distributed ledgers and smart contracts. A blockchain-based solution in also being designed in Seoul, where about 50,000 IoT sensors will measure levels of pollution, light, and traffic, and collected data will be saved in a secure and scalable storage system to allow nearly instant processing. This pilot is part of Seoul’s Smart City project, which hopes to digitally transform the South Korean capital.

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