Blockchain: The next innovation to make our cities smarter

Jan 17, 2018

Both governments and private organisations need to plan for the future and have an insight into the changes that can occur in the world. Today, they have an opportunity to dig deep, search for innovative solutions, inspire positive growth, gain economic prosperity, develop stronger communities and healthier people, and provide for greater social mobility. Foresight is essential for governments and enterprises to know what they should be working towards and why.

At PwC, we believe that there are five global shifts which are reshaping the world we live in. These shifts have a major influence today and will become even more important in the coming decades:

  • Rapid urbanisation
  • Demographic and social change
  • Shift in global economic power
  • Technological breakthroughs
  • Climate change and resource scarcity
Blockchain: The next innovation to make our cities smarter

This paper touches upon two of the five megatrends - rapid urbanisation and technological breakthroughs. Today, more than half the world’s population lives in urban areas. Rapid urbanisation focuses on opportunities presented by this urban transition to create emerging cities that act as powerful and inclusive development tools. Technology breakthroughs, on the other hand, deal with the digital revolution which now has a direct or obvious impact in all spheres.

The purpose of this report is to understand one of the new technology breakthroughs -namely blockchain - and analyse how it can be utilised for making cities smarter. It studies various areas of a smart city and identifies those areas where blockchain innovation can be used to enhance our cities and provide for better
liveability and economic development.

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