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IOTA Foundation’s Smart City Hackathon Will Foster Tangle-Based Governance Solutions

Reading Time: 2 minutes by on February 28, 2019 Adoption, News, Tech
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IOTA (MIOTA) Foundation has announced the launch of the Smart City Hackathon which will aim to solve some of the most pressing issues in governance sector by using the organization’s Tangle technology. This according to a report by MarketWatch published February 25, 2019,

Smart Solutions: Stepping Stone for Smart Cities

The dystopian concept of a smart city is steadily inching towards reality courtesy of the rapid pace of development of technology.

IOTA’s Smart City Hackathon is a window of opportunity for developers the world over to showcase their technical mettle in a way that could help the society at large.

The contest will see developers compete against each other by creating robust solutions based on the Tangle to solve inter-city problems submitted by global corporate entities including the likes of Groupe Renault, Birdz, Sopra Steria, and Indian IT giant Tech Mahindra, among others.

The competition, which kicked off on February 25, 2019, is being hosted by – the world’s largest hardware developer network.       

The focus during the event will be on IOTA’s flagship distributed ledger Tangle technology which has already got the nod of approval from various corporate giants like Volkswagen, and others.

The participating teams will devise and innovate Internet of Things (IoT) as well as data-driven concepts that could be effectively deployed in a smart-city environment. In addition, prizes worth over $10,000 are up for the taking at the event.

Interested readers can learn about the themes and procedure to participate in the event on Hackster.

Sharing his thoughts on the Hackathon, Rajesh Dhuddu, Global Practice Leader, Blockchain, Tech Mahindra, said:

“We are happy to partner with IOTA on this mega hackathon. It gives us an opportunity to identify smart ideas and solve some of the toughest challenges that smart cities have faced and will continue to face. We are keen to collaborate and create an ecosystem to nurture innovative ideas pivoted on emerging technologies like Internet of Things & Blockchain and transform them into compelling propositions for our customers globally.”

Blockchain-Shaped Cities

Contrary to popular belief, the cost of living is projected to go down in the future and one of the reasons for it would be the radical change in the way of governance.

BTCManager reported on June 28, 2018, how budding crypto projects like NANO, IOTA, Byteball, and Cybervein could help in shaping smart cities where the majority of the administrative work would be digitized and automated. This notion was also supported in a research paper by PwC.

It’s also worth noting that emerging tech such as distributed ledger technology could also be deployed to foster a form of governance that puts more stress on the individual rather than on the society at large. This came to light when reports emerged on February 16, 2019, how Norway’s first private city Liberstad issued its own cryptocurrency for its residents to encourage efficiency and transparency.

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