The IOTA foundation along with other members of the +CityxChange consortium have gotten a contract to govern a smart city lighthouse project. The project is under a research and innovation project. EU and other bodies have committed a total of €30 million for the project which will involve the experimentation of smart positive energy in seven EU regions.
The +CityxChange consortium is made up of 25 organizations from around the world. The Norwegian University of Science and Technology is in charge of the project. The project was picked out of 11 other competing projects to be funded and completed.
Within the next five years, Voru, European cities of Trondheim, Alba Iulia, Limerick, Smolyan, Pisek, and Sestao will experiment with digital services from peer-to-peer technology to blockchain technology. The idea is to generate more energy and improve the quality of life of the citizens. The results of the experiments will be shared to participating cities across Europe in a bid to increase the development of European smart cities.
+CityxChange Gets €20 Funding for Smart City Project Aligned With IOTA
The European Research and innovation program will provide €20 million for the smart city project. Other partners will add €10 million to make the total €30 million. The project has been commended by experts because it aims at contributing in the production of positive energy across Europe.
The head of business development at the IOTA foundation said that the project is 100% aligned with the IOTA Foundation. In his words:
“Smart city projects are some of the fastest growing areas of innovation for IOTA. The smart city projects builds our work and partnerships across energy, and mobility thus bringing us all together.”
The co-founder of IOTA Foundation, David Sønstebø said that he is excited about the project and happy to be working with the largest university in Norway.