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Blockchain Technology: A Driving Force in Smart Cities Development

Dipak S. Gade and Sreeramana Aithal

MPRA Paper from University Library of Munich, Germany

Abstract: Smart Cities are well planned, designed, and established keeping in mind the growing need of citizens in search of better livelihood. Technology has played a big role in equipping Smart Cities to offer better facilities to its citizens in terms of better living comfort, better atmosphere, better surrounding, better medical facilities, and most importantly ease of doing business, office, and day to day activities. While doing so, IT Infrastructure and online transactions have influenced all the operational processes of Smart Cities and almost acting as its backbone. Obviously, any adverse impact on online transactions can create chaos in Smart City operations. To address this concern, a safe and reliable online transaction is a must. In this paper, we have discussed Blockchain Technology-based solutions for Smart Cities and their potential impact on Smart Cities Development. We specifically tried to address the concern of how Smart City online operational processes for various applications can be made reliable and safe by using Blockchain Technology and how this technology can benefit Smart Cities overall development. Based on the comprehensive research and detailed literature review, we proposed Blockchain Technology based secure framework for Smart Cities. We also identified various applications and process areas that can be highly benefited by using Blockchain Technology and can make these applications smarter and more reliable and fit for use for any Smart City.

Keywords: Blockchain; Smart city; Smart contracts; Secure framework; Distributed ledger (search for similar items in EconPapers)
JEL-codes: M1 M15 O2 O21 O22 O4 R0 R5 R58 (search for similar items in EconPapers)
Date: 2020-12-30
New Economics Papers: this item is included in nep-cwa, nep-ict, nep-pay and nep-ure
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Published in International Journal of Applied Engineering and Management Letters (IJAEML) 2.4(2020): pp. 237-252

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