Areas of blockchain technology application in modern city – part I

Abstract

Purpose: The purpose of paper is to indicate the potential of using blockchain technology in smart cities. The author analyzes the state of development of blockchain-based solutions and relates it to areas of the functioning of cities. The aim is also to indicate blockchain applications importance in the context of city residents quality of life and the functioning of various industries operating within them. Design/methodology/approach: The objectives of the paper were achieved by analyzing literature, industry reports as well as selected blockchain projects’ websites. The theoretical scope of the article is the description of blockchain technology application areas within the modern cities, their main characteristics and the potential for its usage. Findings: The author indicated 6 areas of blockchain application, and then indicated a number of functioning solutions based on blockchain referring to them, and also indicated the potential of the impact of the described solutions on the development of the city. In the summary, areas for further research were indicated, referring to slightly differently perceived aspects of the city's development and improving the lives of its inhabitants. Practical implications: The successful implementation of blockchain solutions depends on a large amount of conceptual and technological work in organizations. The article suggests areas of blockchain use in the city and indicates examples of already implemented solutions that can constitute a reference point and inspiration for new solutions. Social implications: The blockchain technology shows the potential to improve the quality of life of city residents in the context of building solutions that eliminate the need for trust in service providers, weakened by frequently observed unethical behavior and negligence in the security and transparency of information flow. The widespread use of blockchain in the city is therefore undoubtedly in the interest of societies. Originality/value: The paper’s originality is expressed in a comprehensive look at the issue of using blockchain in the functioning of modern cities, together with an indication of both the potential of their implementation and already existing solutions in the subject area. Moreover, the author points out social benefits in the form of increased trust and an increase in the city residents quality of life. Keywords: from 3 to 5 keywords (phrases), justified text, spacing before 6 pt., TNR 12 pt. font, single line spacing. Category of the paper: Literature review, viewpoint