Taipei City in Taiwan is striving to become the smartest fintech city in the world. The city announced that it has chosen to partner with IOTA and be powered by IOTA’s distributed ledger technology. This technology is called the “Tangle” and it is specifically designed for the Internet of Things. Read more about it in this comprehensive guide.

 

New era of smart cities

Taipei wants to provide with this technology a number of new features for its residents and tourists. They also partner with BiiLabs which is a blockchain startup focused on the Distributed Ledger Technology, based on the IOTA Tangle. The Commissioner of the Department of Information Technology in Taipei City Government, Wei-bin Lee said in an official press release that the ‘unique technology’ offered by IOTA will usher in a new era of smart cities for the citizens of Taipei.

Taipei wants to transform into an app-driven smart city. Taipei’s mayor Ko Wen-je traveled recently to Europe and specifically Warsaw with the mission to focus on smart cities. This partnership with IOTA is a perfect example that he is dedicated to the technology. IOTA’s co-founder Dominik Schiener said that this change will affect and counteract voter fraud.

About the partnership, IOTA’s co-founder David Sonstebo said:

“It proves that our next-generation technology is ready for real-world use cases and is more than just a theory. We’re just beginning to scratch the surface of the effect IOTA can have on making the world of IoT ever-more connected and paving the way for not just smart cities, but a smart world.”

Another smart city that is focused on the blockchain is Dubai. Reportedly they are preparing to unveil nearly two dozen blockchain apps that are currently in pilot form across agencies. These will participate in infrastructure, healthcare and education. Dubai already is using blockchain technology for land registries.

 

IOTA Tangle Features

The Tangle is pretty different than the blockchain because it has no blocks and it looks kinda like tree branches. The partnership is exploring ways in which this technology can be integrated into the smart city to help with data security and increase trust in public services. The first project of Taiwan’s capital is the creation of citizen ID cards built on the Tangle technology called “TangleID” cards.

The goal is to eliminate risks of identity theft and voting fraud and at the same time provide a simple ways to track health history and other data for government-related services. A side project for the city is to create a palm-sized card with sensors that will detect temperature, light, humidity and pollution. This project aims to give the citizens of Taipei real-time information about the pollution levels.

The IOTA protocol has many use cases and wants to make possible a micropayment-based business model that will function in the future. Other use case scenarios include healthcare and inter-city data exchanges. A project already in action is Airbox, which monitors the air quality of locals. It is already used in homes and across 150 Taipei City elementary schools. The device collects and shares air-quality data online and is moving to the Tangle. With it Airbox will integrate incentivized payment in IOTA.

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Crypto News IOTA

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