As global urbanization continues, 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?
It is estimated that by 2025, more than 1 billion Chinese people will live in urban settings. The Chinese government has been proactive and plans to create hundreds of smart cities to support urbanization.
According to McKinsey: “By 2020 the number of smart cities will reach 600 worldwide, and 5 years later almost 60 percent of the world’s GDP will be produced in them. Digital technologies could become the engine of economic progress, and blockchain, without a doubt, could be one of them.”
“Smart cities” are a framework for addressing the unique challenges of urbanization by combining new technology, advanced urban planning, energy and transportation management, and business planning.
>> Read : Using Blockchain in Smart Cities
Source : Meeting of the Minds