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Bart Gorynski
2 weeks ago
Bart Gorynski
Smartivist | @bee smart city

We look at some of the emerging and advancing options for finding money to invest in smart city solutions.

A study from ABI Research found that smart city technology could save enterprises, governments and citizens globally over $5 trillion annually by 2022. Cities could save as much as $4.95 billion per year.

In terms of revenue, cities could raise additional taxes through increased economic development, as well as seeing a return through data monetization (a nascent but emerging area), leasing access to community-owned assets and advertising, to name a few examples.

However, despite broad acceptance of the benefits of smart city technology, internal funds for investment and smart city financing are not always easy to find. Research from Black & Veatch found that only 16 percent of municipalities surveyed said they could self-fund a smart city initiative.

To make progress, cities need to carefully consider the cost-benefit of any investment as well as exploring new finance...

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LABCITIES
last month
LABCITIES
By Joan Torres

By 2050, the world’s population is expected to rise to over 9 billion, with 2 billion people above the age of 60. Governments have agreed on a very ambitious set of Sustainable Development Goals to address the challenges inherent in population growth of this magnitude.

Recent estimates by the World Health Organization published in The Lancet state that reaching SDG 3 — which addresses healthy lives and well-being — would require new investments increasing over time from an initial $134 billion annually to $371 billion by 2030 in order to address the health challenges for 67 low- and middle-income countries.

To put this number in perspective: About the magnitude of this amount, the total global development aid across all sectors reached an all-time peak of $142.6 billion in 2016, an increase of 8.9 percent from 2015 after adjusting for exchange rates and inflation.

It is clear that no single government, civil society, or the private sector can foot this bill. New mindsets, technologies, models for collaboration, financing, and delivery approaches are needed to ensure all people receive the care that they need. The good news is that we have already seen a few projects successfully tackling challenges of similar magnitude.

LABCITIES
3 months ago
LABCITIES
By Joan Torres

We need to start preparing for a decentralized economy, said Bettina Warburg, co-founder and managing partner of Animal Ventures, to delegates in a keynote speech at Smart City Expo World Congress in Barcelona earlier this month.

This decentralized economy, underpinned by blockchain, will not only impact how we trade but will also radically change how we make, design and produce physical and digital goods. While there are many unknowns about some of the impacts of this evolution, one thing is clear to Warburg: The shift is inevitable.

LABCITIES
10 months ago
LABCITIES
By Joan Torres

Dubai has quickly grown into a global hub for trade. Now, it’s planning to use blockchain as the basis for its economy, further enhancing this status. Blockchain has the potential to simplify record-keeping and the transport of goods all over the world. In concert with Dubai’s advanced transportation infrastructure and near-zero taxes, businesses will experience Dubai as a secure, reliably business-friendly environment.

Although Blockchain is primarily known as the technological basis of the digital currency Bitcoin, the technology itself can function in many roles. Blockchain allows users to share and track information from transactions and contracts using a digital ledger, and the records are secure, verifiable, and permanent. With blockchain serving as the basis for both private business and government services in Dubai, service provision will be more efficient. In short, doing business in Dubai will become far simpler for any kind of business.

In March, a citywide implementat...

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LABCITIES
11 months ago
LABCITIES
By Joan Torres

In New York state, neighbors are testing their ability to sell solar energy to one another using blockchain technology. In Austria, the country’s largest utility conglomerate, Wien Energie, is taking part in a blockchain trial focused on energy trading with two other utilities. Meanwhile in Germany, the power company Innogy is running a pilot to see if blockchain technology can authenticate and manage the billing process for autonomous electric-vehicle charging stations.

Blockchain has grabbed the attention of the heavily regulated power industry as it braces for an energy revolution in which both utilities and consumers will produce and sell electricity. Blockchain could offer a reliable, low-cost way for financial or operational transactions to be recorded and validated across a distributed network with no central point of authority. As in the financial services industry, this capability has prompted some people to explore whether blockchain may one day replace a portion of utilit...

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