Blockchain technology is a revaluation of today digital world. Blockchain technology created a storm in the today digital world in almost every industry from 2009, when its invented. When it comes to digital ledger system the technology use for the cryptography. The blockchain technology nature has got imaginations of today running wild, because blockchain is encrypted database that is distributed ledger, decentralized and impenetrable. Since its invention, it is using for reshaping the way business is doing in almost every industry ranging from government, finance, healthcare to smart cities.
Blockchain technology is a today world need. Across global industries such as government, financial services, healthcare, manufacturing, travel, IT and many other industries are currently requiring a system which enable innovate, business beneficial, transparency, enhanced security, improved traceability, reduced costs and increased efficiency and speed. Blockchain technology is a system which can help whole industries to achieve their significant business benefits, including enhanced security, transparency etc. The hype of the cryptocurrency which is used the blockchain technology digital relationships to process the cryptography. In the end, you will gain a comprehensive understanding of blockchain and all its disruptive implications. it brings trust to peer to peer networks. A primary reason banks exist is to act as a trusted third party to transactions.
In the past decade we have seen an incredible amount of the urban migration growth due to various factors. As an ever-increasing number of individuals move into urban cities, there is no uncertainty that urban cities would need to upgrade their Infrastructures, IT, Social, Healthcare system to end up progressively proficient and secure. we would need to ensure that they can deal with the heap and furthermore keep us secure. This is the place Blockchains have a great deal of guarantee for what’s to come.
The situations depicted above depends intensely on the security of the basic system that comprise it. This is the place where Blockchain technology could enable us to pick up an edge over the assailants as Blockchains help us to make applications which provide us transparency, enhanced security and privacy. “Smart cities” is a system for addressing the unique challenges of the urbanization by use the new blockchain technology. Which helps to make urban into smart cities throughout the different steps. The digital technology blockchain could become the engine of the economic process, healthcare, educational, financial services could be one of them. That is where blockchain technology can play a significant role.
Dubai Smart City
Dubai is the first blockchain based smart city that is powered by government. Then transformation of this small fishing village about 30 years ago into a major business hub, global village has been nothing less then phenomenal achievement. Today, Dubai is a global village hub for the business, cultural, tourist. Is a go to global destination for many reasons?
Dubai’s government is currently working on the total 20 use cases industries for blockchain technology to complement its existing operational components. Dubai government has started strategic partnerships with its tech companies IBM and Consensys as advisors to help them for the use of blockchain technology to make smart Dubai further their goals. The online payment portal DubaiPay will use of the blockchain technology for the real-time monitoring of transactions. There is no real-time transaction monitoring in the old system. They added the blockchain tech is one of the most exciting promising technologies that attracting more investments every year.
The smart cities are the also requires for the Asia-pacific regional to make it smart sustainable cities. Cities across Vietnam are inspired from the Dubai smart city indicative to embarking on the digital transformation. They have been selected as well to be the part of the ASEAN smart cities network. As the Asia-Pacific region is the population of more than 2.1 billion urban residents, requires to brining all challenges to address this rapid urbanization. they’re working on the smart city to develop the tremendous potential of the emerging technologies such as big data, machine learning, Internet of things, artificial intelligence, financial services etc. that need to build smarter cities. The development of the smart cities requires a trusted infrastructure of doing capable supporting an enormous volume of ICT, AL, Machine learning, healthcare-based application and services
Sources link: https://www.blockchain-council.org/blockchain/blockchains-brilliant-approach-to-fostering-smart-cities/
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