Reading: IOTA Smart City Project Granted €20 Million in EU Funding Melanie Kramer | Jul 09, 2018 | 01:00 The +CityxChange consortium, which includes the IOTA Foundation, has won a bid to lead a new smart city lighthouse project under an EU research and innovation program. A total of €30 million euros worth of backing has been committed, the majority from the EU, for seven EU cities to experiment with smart positive energy innovations.
A total of 25 enterprises and organizations, including distributed ledger technology innovator IOTA, form the +CityxChange consortium. The group, which will be led by the Norwegian University of Science and Technology (NTNU) in the project, competed against 11 other proposals to become the lighthouse project for developing energy independent cities.
Over the next five years, the European cities of Trondheim, Limerick, Alba Iulia, Pisek, Sestao, Smolyan, and Voru will experiment with using digital services, including blockchain and peer-to-peer technology, to improve quality of life and generate more energy than they consume. Their experiences will be shared with cities across Europe to continue the wider development of the smart city ethos.
The funding of €20 million euros will be provided by the European Research and Innovation program Horizon 2020. Some of the project partners will add €10 million euros of “in-kind” efforts towards local implementation of demonstration projects in Trondheim and Limerick.
The +CityxChange project was commended by independent experts for showing that it will contribute to the wider roll-out of “Positive Energy Districts” across Europe. The energy solutions proposed will include local governments and residents “involving the entire district energy value chain, extending to high-level policymakers and cities, universities, large enterprises, distributed network operators, SMEs, and not for profit organizations.” Describing the project as “100% aligned” with the IOTA Foundation’s DNA and an ambitious open innovation, Wilfried Pimenta, Head of Business Development at the IOTA Foundation said: Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Read more from bitcoinist.com…
thumbnail courtesy of bitcoinist.com