The never-ending global innovation race gave us some of the most disruptive goods andservices in the last decade but also tremendous inefficiencies in sectors like energy, insurance, real estate, facility management, otherwise known as slow-moving or ratherreluctant to innovation.
Technology and new business models are transforming the way we manage homes, buildings and urban spaces to improve efficiency, sustainability, comfort, convenience, safety and profitability. Internet of Things technologies are paving the way to connectevery bit of infrastructure in urban areas and integrate them into smart cities in a near future.
Connected sensors are now embedded in every possible device so they can monitoractivity and relay information to other machines and ultimately to us. Today, there are billions of sensors monitoring data in all kinds of fields. There are sensors in agricultural fields (monitoring the growth of crops, soil salinity, etc.), factories (monitoring productivity), warehouses, smart vehicles, smart roads, smart homes, etc. These sensors all collect data on a daily basis which is used to manage, power and move our economic life.
But Smart City projects are taking on a more urgent issue due to the projection that, by 2050, over 80% of the population in developed countries and 60% in developing countries will live in cities. In the next decade, IoT systems will spread throughout theworld and become ubiquitous in every urban areas.
Cities will undoubtedly be the first to benefit from the IoT, but reliance on thesemachines to make decisions has profound implications for trust. Trusting IoT systemsrefers to the confidence and belief in smart city installations being capable of operating securely, reliably and accountably.
This is why we believe the HAB blockchain-based platform will emerge as a major, vitaland key feature of the future global IoT ecosystem.