Wilfried Pimenta, Business Development Director at the IOTA Foundation and Founder & CEO of Alpha Venturi, presented the use cases of the IOTA Tangle in the field of Smart Cities at the online conference B4Utilities (=Blockchain 4 Utilities). The conference took place on September 14th and 15th, but all videos can be watched on this site after a free registration.The IOTA tangle and smart citys
As we already reported IOTA is part of the research project +CityxChange, which is funded by the European Union and investigates how the Smart City of tomorrow could look like. Pimenta explained that IOTA is perfectly suited for this purpose, since its tangle architecture allows all IoT devices connected to the network to communicate and exchange data.
New challenges of the Internet of Things ecosystem, as Pimenta discussed, include the theft of identities and other sensitive data, secure sharing of corporate data across multiple systems while maintaining agreed governance, and the provision or secure sharing and selling of valuable information.
For this purpose, IOTA provides a “bridge” between the digital and physical society in order to realize new fields of application. The aim is to create a trustworthy environment in which data can be stored free of charge and micro payments can be processed. In the area of smart cities, the specific aim is to ensure access to IoT devices and to control decentralized energy marketplaces via smart contracts.
The target is to construct both old and new buildings with energy generation and transmission facilities that trade surplus energy directly with each other and thus within a block or quarter. In doing so, the trading will be handled via a decentral...