How Blockchain Project Affect on Improving State of the City?
After the year 2008, an entity or group of people under the pseudonym Satoshi Nakamoto came out with the famous whitepaper that would change the world forever.
Since then, cryptocurrencies became a frenzy in alternative and mainstream media, and blockchain technology now has a wide array of different use cases and real-world applications. You can millions of people looking to buy bitcoin.
In this article, you will discover different places around the world where governments are using blockchain technology to improve the life quality of urban citizens around the world.
Dubai – The City of Present
In the middle of the Arabian Peninsula, one of the most well-known cities in the world is Dubai. The city is a fast-growing metropolis and the epicenter of change in the Middle East.
Although the city has been always synonymous with progress and innovation, the introduction of blockchain technology is challenging the status quo and allowing the people of Dubai to dream even bigger.
The government of Dubai with its vision of tomorrow powered by technology has embarked on an aggressive plan to enable a blockchain-based government within the next few years.
Also, the United Arab Emirates has a national plan to enable blockchain across all seven emirates by the year 2030. From manufacturing to logistics, transportation, health care, and real estate, every sector is set to undergo a radical shift caused by blockchain technology in the next few years.
The main idea of its integration in the city’s foreign trade is to create a streamlined, secure, and transparent platform. Plus, the implementation of a blockchain system in Dubai’s urban structure is projected to save around $1.5 billion in other expenses.
Estonia – Blockchain Hub in the Middle of the Baltics
Oddly, blockchain technology was used in Estonia before it became mainstream, and even before Satoshi Nakamoto invented Bitcoin.
Allegedly, the reason for such progress was the cyberattack of 2007, when – at one point – the websites of state services and the government went offline due to heavy DDoS attacks.
As a way to fight the problem, Estonia started reconsidering its attitude towards data security and eventually achieved a technology similar to what we now call a blockchain.
Since 2012, distributed ledgers have been used in Estonia’s national health system, judicial, legislative, security, and commercial systems. The technology has already gone beyond the scope of experimentation and reached mass adoption.
In particular, the Estonian government introduced blockchain to provide its citizens further control of their personal data. Accordingly, Estonians can control, view, and, if necessary, challenge illegal access to their information.
This way, from now on, citizens have the opportunity to check medical specialists or public officials who have examined their medical care, insurance, or driver’s license. Any public employee who accesses personal data without permission can be prosecuted.
In Estonia, the local government appears to be sensitive to the safety and integrity of its citizens.
United States – Land of the Free, Home of the Blockchain
It is impossible to deny the impact of blockchain technology on American soil. Recently, several local authorities have recognized blockchain’s potential in providing public services and have launched several projects at different stages of implementation.
In that sense, one of the most influential figures in this wave of transformation is Republican Senator Cynthia Lummis from Wyoming.
Lummis is one of the biggest Bitcoin advocates in the US Senate. Earlier this year, she launched the Financial Innovation Caucus to educate her fellow lawmakers about Bitcoin and other cryptocurrencies.
At the time, Lummis said she will work with the caucus to deal with false narratives about cryptocurrencies, including their association with money laundering and other financial crimes.
The senator recently attended this year’s Bitcoin 2021 conference in Miami, where she discussed the importance of encouraging innovation in cryptocurrencies.
United Nations (UN) – Blockchain Technology Enables Innovation Around the World
Gothenburg, Chicago, or Singapore are fine examples of innovative cities. They are all highly digitized and have a more advanced and sustainable urban management model that encompasses mobility, energy efficiency, waste treatment, and citizen participation.
Smart cities have inspired initiatives such as Blockchain4Cities, a group within the United Nations (UN) that aims to determine the practical applications of the blockchain in the functioning of smart cities. It’s sure that there will be projects that will solve these challenges, and hence, their cryptocurrency prices will rise.
Empowered by blockchain technology, cities can interconnect to vertical services such as mobility, energy, or security through a single, open, accessible, transversal system capable of exchanging data with their citizens in real-time.
Although the concept of smart cities is not a new thing, implementing the necessary technologies to materialize these ideas takes time. It can take years for blockchain technology to be integrated to manage urban services and public infrastructure.
Eventually, it will be possible to see changes in the social, economic, and environmental aspects of urban life, eliminating problems such as colossal traffic jams, documentation errors, and duplicated transactions.