People from around the world are moving from rural areas to major city centers. This rapid urbanization, largely occurring in developing nations, presents challenges for municipal governments around the world.
Resources will become strained. Healthcare won’t be able to keep up. Energy demands will outpace current capacity. Where will everyone work? How can governments facilitate an environment that’s conducive to economic growth?
In short: how will these future megacities support massive increases in population?
By leveraging advances in technology, such as blockchain, and smart urban planning, we can increase the carrying capacity of our cities.You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete. — Buckminster Fuller
In other words, we can make cities “smart.”
Blockchain projects like Waltonchain, IOTA, and Power Ledger are building solutions power the Smart City Revolution. Specific details below.
Let’s start with the meta trends underlying the smart city revolution…Trend #1: The Rise of Global Urbanization
The first macro trend supporting the need for “smarter cities” is the rise of urbanization around the globe. Although it might not seem like it, moving from rural areas to cities brings with it a massive increase in quality of life. Cities provide economic opportunities, better education, and dramatically better opportunities for women.
Currently, more than half of the world’s population live in urban areas, and more than 1.5 million people join the global urban population every week. The rise of urbanization will not be equally dispersed. In fact, in many western cities, we may actually see a decline in urbanization due to increases in telecommuting and “the end of jobs” as we know it.
Roughly 90% of the projected urban population growth will take place in African and Asian countries, according t...