With IOTA Participating, CityxChange Sees EU Approve Smart City Project

With IOTA Participating, CityxChange Sees EU Approve Smart City Project

The European Commision has accredited smart-city project CityxChange, a collaborator with IOTA, as a vanguard project under the European Union’s Horizon 2020 research and innovation program. The primary focus area of the project is to work towards building a “low-carbon climate resilient future.” 

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Smarter Energy Consumption With Blockchain Tech

To receive funding for their project, the CityxChange consortium submitted a proposal to the EU Horizon 2020 research and innovation program. The proposal, which was based around bringing “smart energy” to Europe, received positive comments and stood out among other projects that were also striving to be ventured by the Horizon 2020 initiative.

Now, the proposal has been accepted. David Sønstebø, co-founder of the IOTA Foundation, said of the newfound accreditation:

“The IOTA Foundation is excited about the approval of the first official Horizon 2020 project in which we are actively participating. Being able to explore and demonstrate the utility of IOTA within the smart city context in numerous cities across Europe will be incredibly valuable going forward.”

20 million euros is the project’s reward for now, with the venture slated to officially commence in the start of 2019 across seven European cities. The ambitious project will be spearheaded by Norway’s largest university, the Norwegian University of Science and Technology (NTNU) and will focus on developing a system in collaboration with enterprises, universities, and organizations including IOTA, to design smart-energy cities.

Growing Pains

However, there has been chop in the IOTA community as of late. Open Privacy researcher Sarah Jamie Lewis recently tweeted to that effect, noting a few days ago that, at that point, “the confirmed transaction ratio in iota is practically 0 because someone is stitching the side tangle to the main tangle and this apparently breaks regular nodes ability to select tips.”

The technical woes gained the attention of Ralf Rottmann, a member of the IOTA Foundation Board of Directors, who responded by saying the IOTA project is in its embryonic stage and things like this can occur. Rottmann did emphasize that all tokens were safe.

As the situation progressed, Lewis said that some nodes eventually came back online and that the downed nodes had resulted from a lack of disk space. It’s a situation to keep an eye on in the weeks and months ahead, wherever it goes from here. The IOTA community will need to tackle these growing pains resolutely if they are to take their project to the next level.

Will more countries around the world embrace blockchain technology to build smart cities? Share your views in the comments section.  

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