New Blockchain-Based Smart City Project Planned for Cambodian Capital
Marie Huillet's original article for cointelegraph.com reduced by 52%
A Singaporean startup, Limestone Network, is using blockchain to sustain a smart neighbourhood at the heart of the Cambodian capital. In order to disintermediate the ties between enterprises and the public, the project focuses on using blockchain to provide secure data portability - so that a firm can skip middlemen in providing various services directly to consumers. Slated for completion by early 2022, the project will in future on-board various partners such as ride-hailing apps, financial institutions, retail brand owners and data analytics firms.
Over the course of the next five years, the startup intends to roll out similar smart city projects across South East Asia with the cooperation of local governments. Visiting senior research fellow at the National University of Singapore Business School Emir Hrnjic told Tech in Asia that the principle advantage of blockchain-based smart cities is its potential to aggregate, analyze and distribute real-time data. "The future of blockchain-enabled smart cities would likely be something in between an ideal society, where everyone has control over their lives and environment, and a dystopian society of a few controlling the masses." Earlier this month, Cointelegraph reported that South Korea's capital, Seoul, plans to launch its own digital currency as part of its bid to transform into a blockchain-based smart city.
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