Limestone Community, a Singapore-based blockchain mission for constructing good cities, has introduced on July 23 it should checklist its native token-LIMEX on Bitrue crypto trade for buying and selling.
Based on the report, LIMEX will combine a complete good metropolis’s purposes akin to property administration, retail malls, funds, monetary companies, transportation, parking, F&B and leisure, to create an clever city ecosystem.
Leverage blockchain for knowledge administration and privateness
Limestone Community began with a 100-hectare personal improvement mission in Phnom Penh, the capital metropolis of Cambodia. It plans to have 10,000 tenants and a every day inhabitants of 190,000 individuals on board.
Limestone Community has reportedly adopted blockchain know-how to allow knowledge assortment by way of residents’ every day touchpoints and sharing with out invading shoppers’ privateness. Additionally they anticipate this may give a extra in-depth understanding of the town’s features, together with street site visitors, energy and water consumption, resident actions, and extra.
The mission plans to incorporate third-party companions akin to ride-hailing apps, telcos and monetary establishments to strengthen the ecosystem afterward.
Folks’s consent for his or her knowledge and utilization
Limestone, a permission-based community, is claimed to permit shoppers to handle consent for his or her knowledge and utilization. Service suppliers and retailers will be capable of confirm shoppers’ identities by requesting the information by way of personal good contracts. Eddie Lee, Co-founder and Managing Companion of Limestone Community stated that: “The great thing about blockchain is the flexibility to provide energy again to shoppers,”
Safe knowledge portability additionally removes the necessity for intermediaries akin to companies between service suppliers and shoppers. These value financial savings can then be transferred to shoppers.
Limestone additionally has a cellular app that can be an interface for residents to register for a digital passport. As soon as their identities are verified after screening towards world databases, they acquire entry to options akin to digital funds, constructing entry, purposes for microloans and extra.
Cointelegraph reported that South Korea’s capital plans to launch its personal digital forex as a part of its bid to rework right into a blockchain-based good metropolis. China has additionally launched an independently developed blockchain-based identification system for its good metropolis infrastructure.
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