China holds a solid record of spearheading tech innovation, and it seems to be continuing the trend with its interest in IoT and blockchain supported Smart Cities. The Yangpu government has recently initiated an agreement with the MXC Foundation for the development of an IoT-based Smart City.
A Smart City is an ideological term for the creation of cities with functions facilitated by sophisticated digital technologies such as IoT, the blockchain, robotics process, and artificial intelligence. It aims to accelerate economic development, increase efficiency levels, improve sustainability, and provide a better quality of life for people based in the city.
Berlin-headquartered blockchain startup MXC Foundation will fully support the Shanghai Smart City program. It leverages a revolutionary technology called Low Power, Wide Area Network (LPWAN), which enables communication between radio-based equipment and 5g protocols, subsequently facilitating an IoT.
Further, LPWAN is ultra-efficient, making the technology large scale as well as low maintenance.
“Our agreement with the MXC Foundation will accelerate industrial innovation, provide technical support for the development of smart cities in Shanghai Yangpu District, and provide comprehensive, high-quality social organizations, enterprises and residential areas in the district, thanks to the increased efficiency of the city’s IoT network,” Yangpu District Vice Deputy Director of Science and Technology Committee Ma Qing stated.
According to Ma Qing, the Yangpu district government has “opened this avenue to attract and support additional blockchain companies in the city.”
One only has to look at rising population levels to see the importance of efficient Smart Cities leveraging the advantages of IoT for better efficiency and sustainability levels. In 1950, there are only two megacities in the form of New York and Tokyo.
That figure is expected to surpass 40 megacities mark by 2030. The greater Shanghai area, however, is supposed to have over 170 million residents, subsequently forming a “gigacity.”
As such, and with the involvement of government officials, if the Shanghai-MXC pilot is successful, it could become a game-changer for blockchain utilization within the real-world setting.
It is not the only time MXC and its underlying LPWAN protocol was used to pilot the creation of Smart Cities. Late last year, MXC had reportedly agreed to dispatch multiple smart sensors across New York.
The deployment of sensors seeks to gather large quantities of data to examine optimization levels for waste management. These massive data sets are stored securely on the MXC blockchain. In the long run, New York officials will target minimizing operational costs.
Another MXC-backed Smart City project is the newly announced South Korea pilot. Blockchain and IoT supported techs will again deploy smart sensors, aiming to collect big data that pertains to earthquake detection of fine dust signals.
Finally, frequent pilots like the ones being implemented in South Korea, New York, and now Shanghai is a step in the right direction.