5ire Distributed Computing: An Ideal Environment for Running Sustainable Smart City Systems
Today’s tech solutions, especially internet of things (IoT) sensors and artificial intelligence (AI) automation, can help urban operations with advanced urban planning and energy and transportation management. But when looking at such large-scale implementation, we must ask if we have a secure enough framework to provide rapid access to resources and hold each stakeholder accountable.
The rapid and lasting development of smart cities, that is, urban communities that implement IoT and AI, seems to be the answer to our effort for sustainable development, but we need to address their governance. A pivotal piece of this challenge is that there are no international standards or requirements for smart city development. Every urban area’s upgrade to a smart city will follow a different course. In addition, there needs to be a method for accountability, a way to validate that the added systems are actually having an impact on sustainability and are functioning smoothly, integrating already existing infrastructures with smart technology.
For most cities, it will not be implementing new technologies that will pose a serious challenge, but the interoperability between off-chain digital legacy systems and governmental infrastructures that are ubiquitous across most major urban centers. This is where 5ireChain can help.
The adoption of blockchains by organizations has pointed to the integration and interoperability between blockchains and other systems as one of the most promising and challenging use cases of distributed ledger technology.
Simultaneously, there is a need for accountability and transparency with legacy governmental systems and rapid response to the management of essential city services and impactful urban planning solutions, from transportation and energy to business sustainability.
A Truly Secure and Scalable Solution
Decentralized ledger technologies (DLT) have been utilized for ensuring transparency and accountability, and the decentralized nature of blockchain makes it an ideal and secure environment for transaction processing. However, DLT has not always been conducive to rapidly scaling high-speed solutions. With 5ireChain, we not only get all the above features but a lightning-fast scalable DLT solution, primed to work in concert with the latest 5G communications and IoT sensor technologies.
Such a combination of security, scalability, and decentralization makes 5ireChain the perfect choice for an infrastructure framework upon which to build smart city systems. Utilizing its proprietary Sustainable PoS and a proprietary weighting system, 5ireChain boosts real-time decision-making, enabling city systems to run smoothly.
It is important to note that 90% of urbanization occurs in developing countries, and most of it is near hazard-prone areas, in informal and unplanned settlements. This sets the stage for large-scale and systemic fraud and abuse. With the paradigm shift of power dynamics provided by the fundamental concepts of blockchain technology, 5ireChain leverages the true power of blockchain as a source of truth and equity with the assistance of multi-layered oracles as the tools to bridge the divide.
Securing Personal ID and Identifiable Information
Personal identity is far less common around the world than one thinks. This is even more so where rapid urbanization is occurring. Among the archaic recording of permanent identification and the frequency of data breaches, centralized personal identification is far less desirable than it used to be and storage of personally identifiable information is both expensive and dangerous. A smart city solution requires a new paradigm of personal identification. A permanent identifier is an ID that does not require registration with a central authority, one that is globally resolvable and persistent and can cryptographically verify the owner of such identity.
5ireChain utilizes a self-sovereign approach where identities reside on the user side while maintaining a cryptographical process of issuing and verifying credentials and information contained on them without revealing other sensitive data. 5ireChain’s powerful mechanism conforms to the W3C standard that defines decentralized identity as a globally unique persistent identifier that does not require a centralized registration authority; instead, it is cryptographically issued and verified.
The Future is Here: Now
The smart city solutions that once seemed like a far-fetched goal are now being actively developed, upgraded, and implemented today, with sustainability incorporated into their designs. From Dubai, Beijing, and Singapore, these smart solutions are being implemented rapidly that would most certainly require a new paradigm to run them successfully.
Although in the past public governance has predominantly been planned around a punishment-enforcement model, where violators of established laws and regulations are punished into following the rules and regulations of advanced urban centers, the new paradigm of sustainability may require us to center compliance around rewards-based incentive systems using micropayments to nudge and direct citizen behaviors to achieve an optimal operational equilibrium and measurable sustainability outcomes.
To achieve this, fast and secure DLT-based financial infrastructure will be deployed like the pipes, cables, and fiber optics of other utilities, enabling the flow of micropayments to be the commercial and behavioral lifeblood of all new cities.
More information about 5ireChain can be found by clicking on the following links:
White paper: https://bit.ly/5ireWP
LinkedIn : https://www.linkedin.com/company/5ireChain
Twitter : https://twitter.com/5irechain
Discord : https://discord.gg/GAWXJKnZQH
Telegram : https://t.me/OfficialFireChain