AN ECOSYSTEM FOR SMART CITIES BASED ON BLOCKCHAIN
AN ECOSYSTEM FOR SMART CITIES BASED ON BLOCKCHAIN

Summary/Abstract: This paper analyses the impact of the digital transformation of cities affected by rapid urbanization that tend to endanger their environmental and economic sustainability. Such a transformation is possible through the concept of a smart city. We investigate the opportunities of using blockchain technologies in the realm of smart cities. The paper’s main goal is to propose a new business model for blockchain use in the smart city ecosystem that will provide a solution for a sustainable urban environment and improve citizens’ life. Smart city ecosystem consists of building blocks: infrastructure, development and self-sustainability, stakeholders and their relationships. Stakeholders can be different subjects, but most often they are government authorities, service providers, blockchain technology providers, IoT device manufacturers, and citizens. Blockchain-based systems facilitate increased citizen engagement and participation. Citizens can provide feedback, contribute data, and interact with smart city services through decentralized applications. The ecosystem operates in an iterative and adaptive manner continuously learning and improving based on the data and feedback received. Insights gained from the blockchain data and citizen interactions drive ongoing enhancements to the smart city infrastructure and applications. The proposed model will, on the other hand, show sustainability by citizens through a reward system using a digital wallet. Citizens actively engaged in energy management or ridesharing platforms can be rewarded with tokens to use for discounts or health check-up services. The proposed ecosystem could serve as a ground for the adoption of blockchain in smart city ecosystems in different countries.

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