Smart cities are expected to become the sites for far-reaching social experimentation and changes to society.
In recent years, ‘Smart City’ has gone from a phrase that implied visions of science fiction and the far future, to a buzzword dropped into every other article and conversation, to – finally – something that is now starting to become reality for many people all over the world. With the development of more and more IoT devices and connected objects, even those of us who would not consider our towns to be ‘smart cities’ see our homes and cities becoming more intelligent and connected every day.
According to research, by 2025 the number of megacities is expected to reach 29. Smart cities are already being recognised globally and many are utilising blockchain as the foundation of plans to enhance urban living.
In 2018 we saw smart city technology developing faster than ever before, and with the global smart cities market expected to grow to USD 757.74 Billion by 2020, it is clear that this trend is only going to continue.
>> Read : Smart money for smart cities
Source : IT Pro Portal