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+CityxChange Project Involving IOTA Approved By The European Commission

· in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

IOTA is currently participating in the +CityxChange through 12 different tasks. The initiative has recently been accepted by the European Commission to become a smart city lighthouse project. The information was released by IOTA in a blog post on October 22nd. 

IOTA Participates In Smart City Project

The +CityxChange is a confirmed lighthouse project part of the EU Horizon 2020 “Smart Cities and Communities” topic. The project was reviewed by different experts and became one of the top 11 proposals. 

The project aims to develop, test and facilitate the adoption of technologies to create, discover and trade renewable energies in specific cities. 

The main goal is to create “positive” energy districts allowing for all the energy they consume to be produced by the districts themselves. 

This initiative has different work packages that focus on different areas of the future energy-positive smart city. Each of these packages has different tasks. IOTA is present in 12 of these tasks. 

Some of these initiatives related to IOTA include standard project management activities, development and planning the commercialization and exploitation of these new technologies. 

The official blog post released by IOTA reads as follows:

“We are excited to be involved in this project and look forward to what can be achieved in the next 4 years. The use of IOTA technology in these smart city testbeds is a crucial step for us.”

One of the solutions on which IOTA is currently working is related to the development of community grids and a platform for local trafe of energy. 

The IOTA Foundation is working with its partners and other organizations to explore how to set up local energy marketplaces and enable positive energy blocks and districts. 

It would be possible to use the IOTA technology to request and offer energy and enable machine to machine transfers of energy and payments. Of course, this project is expected to include and contextualize local standards, rules and regulations. 

At the same time, another proposal is related to the delivery of seamless eMobility as a service (emaas). 

To do so, IOTA is working on a proof-of-concept (PoC) in collaboration with FourC, a M2M/IOT cloud infrastructure company that focuses on mobility. 

IOTA is developing an infrastructure that would allow users to book and pay for multimodal journeys that involve different transport providers. IOTA will be building an immutable and secure aduit trail for journey start/end point, mode of transport and final cost. 

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