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EU Awards €20 Million to IOTA and CityxChange for Smart City Project

EU Awards €20 Million to IOTA and CityxChange for Smart City Project

Reading Time: 2 minutes by on July 9, 2018 Altcoins, Blockchain, Business, Finance, Investment, News, Tech
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The smart city project +CityxChange has been awarded 20 million Euros by the European as part of the smart city lighthouse project. The project has been listed under the ‘Smart Cities and Communities’ section of the European Commission. EU’s efforts to bring a significant change has received every possible applaud and acclamation. Moreover, the +CityxChange proposal has been considered to be one of the most effective and ingenious recommendations amidst the existing ones.  

Better Quality of Life With Blockchain Tech  

The project has been awarded twenty million Euros from the European Research and Innovation programme Horizon 2020. Along with the above-given amount, ten million Euros will be granted by project partners in support of the venture and its implementation. The estimated date for the launch of the project is January 1st, 2019.

The coming five years will be crucial and exciting for Trondheim, Pisek, Sestao, Limerick, Smolyan, Alba Iulia and Voru since cognitive study will be conducted in these cities to transform them into smart, favorable energy cities. Digitization will acquire a pivotal role to provide an improved lifestyle for the people of the cities and a better interactive environment between the European cities.

A series of innovative strategies and solutions will be conducted in these seven cities under the guidance of  Norway’s largest university Norwegian University of Science and Technology (NTNU). Moreover, a well-thought-out list of eleven enterprises, two universities and three NGOs will undergo the test series along with the cities.

The value chain includes, IOTA Foundation, ABB Norway, IES R&D, Powel AS, University of Limerick, Energy Agency of Plovdiv, Future Analytics Consulting, Research2Market Solutions, ISOCARP, TrønderEnergi Kraft AS, ATB, AVIS Budget Group, Statkraft Varme AS, ESB Innovation RoI Ltd, ESB Networks, Ove Arup & Partners SAU, FourC AS, R.Kjeldsberg, Smart MPower, Space Engagers, Colaborativa, Officinae Verdi, NHP Eiendom, and GKinetic Energy Ltd.

IOTA at the Forefront of Blockchain-Based Smart City Projects

“Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together”, stated Wilfred Pimenta, the head of Business Development at IOTA Foundation.  He also added, saying that the proposal is aligned to IOTA Foundation’s DNA and that the initiators can’t wait to get the project rolling.

Experts from Europe are of the opinion that the proposal is worthy of commendation since the strategies and action plan seems convincing and promising. Local government has been given the opportunity to be active in the making of the smart-energy districts and resources will be fetched out from the best cities, enterprises, universities NGOs.

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