This IDC study discusses how blockchain/distributed ledger technologies could be applied to securely validate public sector transactions and identities and to reduce bureaucracy via smart contracts. City and other public sector leaders need to better understand this emerging, complex technology.
In the sections that follow, we explore these issues in depth, highlighting which stakeholders need to be involved and the recommended steps to take so that Smart Cities can learn to leverage the technologies appropriately. Most importantly, we address why Smart Cities should be considering DLT.
"DLT/blockchain solutions are profoundly transformative solutions that offer the capacity to drastically reduce bureaucracy and streamline transactional and contract efficiencies, creating valuable cost saving for budget-constrained local governments." — Dr. Alison Brooks, research director, Smart Cities and Public Safety