How Might the CyberVein Network Help Fuel the Future Smart City of London?

Imagine you wake up one morning, ten minutes past your last alarm, which is not uncommon but not the norm, and start to get ready for work. You go downstairs and your coffee machine (or kettle, should you be a Londoner) is already pouring your first cup of joe (cuppa) for the day.


This is just one, minuscule interaction that will be made possible by the Internet of Things (IoT). As devices become increasingly interconnected they will make our homes feel more smart. Further to this, IoT aims to help our cities become self-adjusting and regulating for the benefit of its residents.


If you were following our CyberVein Global Token Hunt recently, you will know that our hardware wallet was recovered from a location in Central London. If you were really paying attention then you would also know that we’ve recently been talking a lot about the future smart city.


Why could London be at the forefront?


Which brings us to London. There are a lot of smart city pilot projects from around the world - about one thousand of them - but the English capital has always intrigued as a metropolis that pioneers, one not afraid to spurn the old and adopt the new.


Should this not be self-evident then one need look no further than Mayor Sadiq Khan’s bold proclamation of plans to make London ‘the world’s leading smart city’. They have a Smart Plan, a Smart City Board, and around 50,000 digital tech companies to make it all happen. But, most importantly, London boasts a population that has always been Smart-friendly.


It is not just the tech community at the forefront of adoption, but Londoners who have themselves been enthusiastic participants in the sweeping fintech revolution which has turned the capital into a near cashless society.


This is evidenced in the burgeoning FinTech scene coming out of the city, as well as in the pioneering Oyster card system used for public transit by Transport for London which has since started accepting contactless payments, by virtue making it one of Europe’s largest contactless merchants.


The future is data


Any network for a smart city has to scale to billions of data points every single day. Smart London will gather data by the petabyte and so a solution that allows continuous data collection and storage is key.


CyberVein on a Directed Acyclic Graph (DAG) architecture allows ledgers to be broken up into smaller parts on sidechains. What this means is that users do not have to store the entire network in order to make a transaction and gives the network wider scope to scale.


The CyberVein network is designed in such a way to make use of a series of decentralized databases and, by using donated disk space from users, it is possible to store vast datasets across millions of devices.


Why does London need to be smart?


Traffic


Experts say that London is the second most congested city in Europe as analysis shows its drivers spend up to 73 hours in traffic every year. If traffic lights and road sensors were interconnected, and furthermore all cars on the road were transmitting data, then the flow of traffic could be managed in real-time for maximum efficiency.


Service Jobs Registry


A dedicated employment registry of workers offers an overview of a person’s job history. This has the benefit of creating certainty among residents who may be looking to hire a good plumber or electrician, for example. In a city as big as London, this could be instrumental in fostering wider trust.


Home Convenience


Bringing us to the micro, inside the future house of the smart city. You will quite likely benefit from having home appliances - such as your blender or fridge - connected to the internet, where data is used to constantly adjust how they work. As an example, your fridge could automatically update your online grocery shopping basket when supplies are diminished.


CyberVein can make this data secure and accessible


On the CyberVein network, data storage is decentralized and, as a result, huge savings can be made on data centers. The future smart city will generate such vast quantities of data that a scalable solution is vital. Traditional blockchains have issues scaling up but a DAG architecture has potential to scale essentially as far as is needed.


What CyberVein can bring to a smart London is total trust and transparency with all of the firepower needed to store and transmit data on a scale that will help us progress into the future.


Our successful token hunt proved how connected we already are and there is yet unbridled potential in the future smart city. CyberVein can help to unlock these broad possibilities in a smart London and beyond, creating the future of how our homes and urban centers will self-optimize.


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