Blockchain: The Vibrant Technology for the Management of a Smart Cities

In recent decades, more people inhabit cities than rural areas, due to the increase in population, change of climate, and shortage of resources. Many countries are emphasizing the transformation of the city into a smart city for the effective utilization of the opportunities of urbanization. Today, smart cities are one of the thrust areas of many governments across the globe. Smart cities are being planned to promote a pollution-free environment and facilitate smart infrastructure. To enable operational efficiencies and to achieve sustainable economic growth in smart cities, innovative technologies are necessary. This book chapter focuses on the current urban challenges arising during the management of smart cities. It discusses one of the vibrant technologies – blockchain technology and its usage for the management of smart cities. Further, it explores the current scenario of global blockchain technology initiatives. It studies various domains of a smart city and also recognizes the domain where blockchain technology can be implemented for better livability and development of cities. Also, it focuses on the various use cases of blockchain in developing the smart city. Finally, it explains the practical feasibility for the successful implementation of blockchain technology briefly. 

Keywords: Auditability, Blockchain Technology, Decentralization, Immutability, Informatisation, Land Registration, Real Estate Transactions, Smart city, Smart Contract, Transparency.