Cities are beginning to pay closer attention to blockchain, viewing it as a fundamental shift that they cannot afford to ignore. Sarah Wray explores the potential use cases and the implications for ethical governance.
Blockchain is one of the most hyped technologies around but there have been few implementations by cities to date.
Interest in the decentralized ledger technology is now growing due to advances in cryptocurrencies, smart contracts, digital assets, and other so-called Web 3.0 technologies.
The debate for cities is not only about whether they should adopt blockchain but also how to prepare for the wider impact – because many believe it’s coming, ready or not.
Societal shift
Speaking at Smart City Expo World Congress in Barcelona last month, Diego Fernández, Secretary of Innovation and Digital Transformation for Buenos Aires City Government, said blockchain could have the same transformative power as the printing press and the internet.
“Today, every transaction is controlled by central entities: governments and big companies. The blockchain is going to change that and this is a change that will alter society forever,” he said, citing taxation, the financial sector, notary services, the job market and voting as major areas where the impact could be felt.
Continue reading: https://cities-today.com/blockchain-cities-prepare-for-impact/
Blockchain is one of the most hyped technologies around but there have been few implementations by cities to date.
Interest in the decentralized ledger technology is now growing due to advances in cryptocurrencies, smart contracts, digital assets, and other so-called Web 3.0 technologies.
The debate for cities is not only about whether they should adopt blockchain but also how to prepare for the wider impact – because many believe it’s coming, ready or not.
Societal shift
Speaking at Smart City Expo World Congress in Barcelona last month, Diego Fernández, Secretary of Innovation and Digital Transformation for Buenos Aires City Government, said blockchain could have the same transformative power as the printing press and the internet.
“Today, every transaction is controlled by central entities: governments and big companies. The blockchain is going to change that and this is a change that will alter society forever,” he said, citing taxation, the financial sector, notary services, the job market and voting as major areas where the impact could be felt.
Continue reading: https://cities-today.com/blockchain-cities-prepare-for-impact/
