Blockchain in Smart Cities: Exploring Possibilities in Terms of Opportunities and Challenges

Abstract

The ultimate aim of a smart city is to enhance the quality of life for its residents and businesses through modern technologies in order to reduce resource deterioration and maintain overall costs. From this perspective, blockchain is one of these technologies that has received much attention during the recent years as it offers new alternatives for individuals and institutions in the smart city context. This study aims to explore the potential and contribution of blockchain in smart cities by studying and reviewing the literature of scientific research on the concept and fundamentals of blockchain, involving its most practical applications. In addition, it summarizes worldwide examples of success in using blockchain as well as exploring the challenges and opportunities related to this technology in smart cities. Thus, this study provides a useful reference for researchers to review all about the new blockchain technology.