The IOTA Foundation has launched a competition on Smart City. The goal is to promote innovative solutions for the networked cities of tomorrow using distributed ledger technology from IOTA.
Smart City – the intelligent city – is a trend topic, with which industry, politics and crypto companies are increasingly engaged. By linking and sharing data quickly, life in cities should become safer, healthier and more energy efficient.
From the Internet of Things to Smart City
The idea of Smart City is a logical evolution of IoT, the Internet of Things: everyday devices such as smartphones, refrigerators, cars communicate with each other and do things we do not need to worry about anymore. Not everything that is technically possible has been put into practice yet, but the smart home is already a reality worldwide.
The Internet of Things needs an autonomous payment system and IOTA has positioned itself here since the beginning of its history. In order to enable transactions that are as fast and secure as possible, IOTA has developed a network-like data structure instead of a blockchain, the so-called tangle. Transactions are not processed linearly, as in the Bitcoin blockchain, but in parallel. This allows transactions to be confirmed much faster and theoretically the system is infinitely scalable.
IOTA has always had close contacts with industry partners to test its Distributed Ledger Technology (DLT), for example in autonomous vehicles. Together with Bosch, the company is also working on various IoT projects, as BTC-ECHO reported.
Smart City – solutions for the cities of tomorrow
With the hackathon, which is now being called, IOTA intends to harness its technology for the key questions of the cities of tomorrow. Partners for the competition are the Renault Group, ENGIE Lab CRIGEN, VEOLIA Birdz, Sopra Steria and some supporting organizations.
Participants will be able to present open-source solutions on four topics: Smart Energy is all about the secure supply of sustainable energy. Smart Mobility addresses the question of how vehicles can capture traffic and fleet data and anticipate maintenance.
In the category Smart Buildings, the “athletes” are to develop IoT solutions that make commercial buildings more attractive and residential buildings more attractive. The topic Smart Districts is a bit broader. These are challenges of increasing urbanization, ie the interplay of disciplines such as mobility, infrastructure and energy.
The competition runs until April 6, 2019. Participants can expect to receive MIOTA tokens totaling $ 10,000. All information about the hackathon is available here.