The European Commission recently officially invitedthe consortium + CityxChange to participate in the Smart Cities and Communities project. This project is part of a research and innovation program. Blockchain technology is propelled into a series of energy solutions exploration for 7 European cities.
+ CityxChange and IOTA team up
Funding awarded to Consortium + CityxChange , a group of 25 companies including the IOTA Foundation, the Norwegian University of Science and Technology, ABB Norway, the AVIS budget group, Space Engagers, GKinetic Energy LTD and many others, is expected to reach 30 million euros.
Trondheim, Limerick, Alba Iulia, Pisek, Sestao, Smolyan and Voru will experiment with the use of digital services, including Blockchain for the next five years. These European cities will share their experiences with other regions across the continent to promote wider adoption of smart cities.
The European Horizon 2020 research and innovation program will finance 20 million euros and other partner companies will invest 10 million euros for the implementation of the demonstration project in Trondheim and Limerick.
This ambitious project involves both local governments and residents. Energy solutions derived from the use of Blockchain "involve the entire energy value chain of the district, extending to decision-makers and high-level cities, universities, large enterprises, distributed network operators, SMEs and even to non-profit organizations. "
IOTA is at the forefront of a new use of Blockchain
The potential of the large distributed register will be explored in order to improve the quality of life of the inhabitants of the EU. It should generate the amount of energy needed by the cities concerned. Moreover, the use of Blockchain in smart cities would greatly increase the standard of living of citizens, according to Wilfried Pimenta, head of business development at the IOTA Foundation."The Smart City is one of the most dynamic cross-sector innovation areas for IOTA. Based on our work and our partnerships across mobility, energy or the data market, these smart city ecosystems bring everything together. "David Sonstebo, the co-founder of IOTA who works closely with the largest Norwegian university, supported Pimenta's comments by saying:
"Being able to explore and demonstrate the utility of IOTA in a smart city of Europe will be extremely valuable in the future. "The companies, universities and for-profit organizations involved in the large-scale EU-funded project are:
What do you think of the collaboration between + CityxChange and IOTA? Do you think that the smart city project involving 7 European cities is viable in the long term? Tell us your opinion in the comments below.