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The potential of integrating blockchain technology into smart sustainable city development

Wong, PF, Chia, FC, Kiu, MS and Lou, ECW (2020) The potential of integrating blockchain technology into smart sustainable city development. In: International Conference on Sustainable Energy and Green Technology 2019. IOP Conf. Series: Earth and Environmental Science 463, 11 December 2019 - 14 December 2019, Bangkok, Thailand.

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Abstract

The rise of global urbanisation has led to massive pressures on resources such as food, water, infrastructure, and energy demand to support growing populations. It brings adverse impacts on the liveable condition and economic growth of a country if this problem remains unsolved. Smart city is a potential solution to address the challenges of urbanisation by leveraging the technological breakthrough such as internet of things (IoT), Artificial Intelligence (AI), machine learning, big data, and cloud computing to facilitate scarce resources planning and management. With numerous connected devices and vast communication networks, it poses a challenges of security threat which cannot be addressed by the conventional cybersecurity solutions. Blockchain offers a solution in securing the huge numbers of connected devices in smart city network. The application of blockchain technology is leading in the banking and financial industry. However, the uses and implementations in smart city have emerged in recent years. The combination of blockchain technology and smart city has offered a great potential for sustainable development. Thus, it is imperative to discuss the potential of these two elements in making the city safer and sustainable. This paper explores how the blockchain technology application can help in managing smart city and achieve sustainability. The findings revealed that there are five key areas of blockchain application in smart city which are smart governance, smart mobility, smart asset, smart utility and smart logistic. A framework for smart sustainable city with blockchain technology is presented as an outcome of this study. It gives a clear overview for the policy makers and regulators of how blockchain supports within smart city framework. It facilitates the transition towards smart and sustainable cities through the use of blockchain.

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