- Cybersecurity & Blockchain technology

cybersecurity

Openness is a tremendous opportunity for Smart Cities. Although open standards have been legitimised in the last few years, they are still somewhat worrisome, since some city managers might assume an open infrastructure is less secure than traditional, legacy technologies. We have a different view about this.

PE Smart Urban Network and our IoT platforms integrate blockchain technology and make commissioning and operational procedures of smart infrastructures intrinsically secure. The combination of blockchain, dedicated hardware security modules on devices, ultra-reliable encryption and other features brings Paradox Engineering at the forefront of cybersecurity, and allows our customers to move away from the conventional ‘bastion defence’ paradigm to benefit from security-by-design network systems.

Cybercrime is a risk that cities and companies can no longer overlook. Our expertise allows vital public services and mission-critical applications to be safely hosted and managed over IoT networks. That’s a huge step forward in mitigating existing vulnerabilities, and finally treat cybersecurity as a public good.

Why blockchain?

We tend to look at blockchain as a brand new technology, but it was actually a theory put forward all the way back in the 1990s. Simply put, it allows individuals and organisations to make instantaneous, secure transactions over a distributed network. As a new combination of mature technological concepts, including peer-to-peer networks, distributed consensus algorithms, validity rules, ledger technologies and cryptography, blockchain can be successfully applied in any domain where relations are based on trust and may be entirely disintermediated.

This is particularly relevant for cities. Picturing a city as a network of connected urban objects, blockchain allows all components and devices to be linked to each other by the same cryptographic chain of trust and enable accurate, secure, immutable information exchanges among them. Granting the highest possible levels of data integrity, validity and immutability, blockchain technology makes commissioning and operational procedures over smart urban infrastructures intrinsically secure.

And what if device-related data could be monetised and turned into revenues? Thanks to blockchain, data from streetlights, parking lots, waste bins, environmental sensors, and other urban objects can be transformed into tradable tokens. Universities, startups and any local organization can design innovative applications and services by mashing-up different data streams – a highly promising opportunity for new economies generation.