- How is blockchain useful in the smart city?
- What are some flagship projects that use blockchain in the smart city?
- What countries and regions are key markets for energy blockchain and the smart city?
- What is the relationship between smart city and blockchain and what can be expected for the market in the future?
- What are barriers for blockchain in the smart city?
- What can stakeholders do to help implement more blockchain projects?
Analyst Insight: Blockchain Use in Smart Cities
Smart City Tracker Insights
Smart cities programs and projects are expanding worldwide, creating environments that can evaluate and incubate emerging technologies. Guidehouse Insights defines a smart city as “characterized by the integration of technology into a strategic approach to improving citizen well-being, environmental sustainability, and economic prosperity.” Smart cities take advantage of innovations in digitization and automation to deliver services to their citizens quickly, efficiently, and securely.
One such innovation is blockchain technology, which can bring authenticity of information to be validated through its decentralized structure; the process includes no central authority or human error. It can also provide a trustless database and system in which stakeholders can access data they need, while the data remains secure. In a smart city, these attributes can produce benefits for everything from document provenance (e.g., public land ownership or private health records) to cybersecurity, transportation, and transactive energy.
Programs and pilots are emerging that demonstrate tangible applications for blockchain technology in the municipal structure. Based on findings from the Smart City Tracker 3Q22, this report reviews the current market outlook and delves into three case studies that illustrate a variety of blockchain use cases in the smart city.
- Cities looking to adopt smart city strategies
- Large corporations that want to improve sustainability practices
- Blockchain technology companies, developers, and vendors
- Utility companies
- Energy technology companies
- Distribution system operators
- Smart grid hardware and software providers
- Investor community
Blockchain as a Backbone for Smart Governance
Blockchain Benefits in the Smart City
Use Case: Urban Change Protocol
Use Case: Cook County Real Estate Records
Use Case: PlanetWatch Rewards Individual Air Quality Measurements
Drivers and Barriers
Market Inflection Trends
Key Takeaways and Recommendations
Resources and Contact
- Use Case: PlanetWatch Rewards Individual Air Quality Measurements
- Drivers and Barriers