Since bitcoin announced in 2008, the real potentials and unique features of blockchain became an attraction point. In fact, many private institutions attracted to use blockchain technology for various purposes. Blockchain technology can support the needs for the wide range of industries. Blockchain is an immune, fast and transparent network in order to share and store data and information. In the latest news, a new project is developing a new smart city by using blockchain technology. This project is going to tokenize its platform. In other words, a blockchain-based smart city token is on the way.
Blockchain-Based Smart City; limestone is collaborating
A Singaporean company (Limestone Network) is developing a blockchain-based smart city in Cambodian capital. Recently, they planned to release their own native token.
As Wallebi reported, Limestone Network announced in July 23, they planned to list their native token called LIMEX on Bitrue crypto exchange.
LIMEX will use in order to integrate the whole smart city applications. Those applications consist of retail malls, property management, financial services, payments, F&B, parking, transportation and entertainment. The purpose of the project is to build an intelligent urban ecosystem.
Limestone is developing the project
Limestone Network started the development of project in Phnom Penh, the capital city of Cambodia. The development area is 100-hectare and planned to have 10,000 tenants and 190,000 as daily populations.
The blockchain technology will use to collect data. Those data and information consist of residents’ daily touchpoints, road traffic, residents’ movements and water and electricity consumption. Of course, the data will be shared without seizing consumers’ privacy.
Limestone Network in collaborating with other financial institutions such as telcom in order to strengthen the ecosystem.
The Limestone founder and managing partner believes that blockchain has the ability to give the power back to consumers.
In addition, Limestone has a mobile app, which makes the residence to apply for digital passport.