Cybersecurity, Blockchain and Smart Cities
New blockchain application: Smart cities
One of the clear benefits of blockchain applications is the decentralized factor. One application is to use a federated learning algorithm. With this being decentralized, the algorithms get the benefits of collective machine learning across the multiple data owners. This trial is being used in Munich, Germany to assist commuters in finding a parking spot. This innovation is created by Fetch.ai. This is designed to work with the decentralized machine learning network in smart infrastructures. The area being used is titled M-Zone. This was engineered to use multi-agent blockchain services with AI. The goal is to optimize the local parking resources in commercial real estate properties. A positive by-product of this is a reduction in the city’s carbon footprint. This is accomplished by the AI system search for the nearest parking spot to the user’s destination, booking it for the user, and providing the user directions to the parking spot. When the user leaves, the fee is calculated and paid. This is another example of applying technology to improve the user’s life and our environment.
BLOCKCHAIN is a decentralized digital ledger consisting of records called blocks that is used to record transactions across many computers so that any involved block cannot be changed retroactively, without the alteration of subsequent blocks. This is especially beneficial for logs which cannot or should not be altered or to add a layer of cybersecurity.
BLOCKCHAIN is useful for applications requiring logs which may not be adjusted, automated processes, and cybersecurity.
Please contact us when we may be of assistance with showing you when and how to apply blockchain to your business, products, and processes.
Charles Parker, II; Principal Scientist; MBA/MSA/JD/LLM/PhD/DCS (IP)