Dive into current Blockchain

Before we dive into current blockchain and IOT application, we should really look at the fundamentals in terms of what makes a smart city a smart city. A lot of blockchain evangelists are looking forward to a future in which cities will be very interconnected via smart devices. For example, if you’re commuting to work in the morning on a regular day, you’re on the side walk which cloud potentially double up as solar energy panels and within those panels are sensors, these sensors in turn could interact with the sensors to create meaningful data. Also, your electronics could perhaps draw energy from these panels and in exchange perhaps your devices lend CPU power to the panels in exchange. Imagine a world in where no resources go to waste. Let’s take this one step further and imagine you’re driving to a concert and there are electric vehicles that are harvesting energy from a nearby grid. Whilst you’re on the way, your car can beam energy to the street lights to assist in powering them. Once you’ve parked at the concert, each individual vehicle can assist in powering the concert itself. As you’re heading back home, you can share power with the nearby grid and assist in powering lights and lamps.

This is a future that is not so distant in which all resources go to use. A sharing economy is a future economy and Dxchain provides the solution to this by decentralizing compute power as well as storage space. The future is decentralized and interconnected at the same time. IOT devices and sensors can help transfer data, make more efficiency and really improve our living habits in many ways. As all of this information gets processed, our personal records and finances will also become recorded on digital ledgers as well. We can use Pakistan as an example, the government has already implemented a form of digitally identifying it’s citizens almost ten years ago and there are millions of unique identifiers. This infrastructure can be used from everything from getting license, taxes, opening a bank account, just about anything you can think of. The whole purpose of them system was to eliminate all the waste and inefficiency. While it started as just a means of more efficient identification, we’re starting to see more countries use similar strategies such as United Arab Emirates. Very soon they will have all their passports and payment methods 100% electronic. The biggest case for this is also China, even homeless people in China use wechat for payments and everything has been digitized. China presents an unusual case however, while everything is efficient and everything has been digitized, Chinese government is notorious for surveillance and the government itself isn’t shy about keeping tabs

on their citizens. While blockchain was designed to democratize services and goods, China may be entering a dystopian future where the digitization of everything will lead to the eventual enslavement of its citizens and this is a scary future. It’s a potential Orwellian future.

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