The IOTA foundation is expected to bolster various smart cities across the EU
cryptocurrency-event-2018

The +CityxChange consortium has incorporated the IOTA foundation. A company that has just won an offer that will enable them to lead another smart city lighthouse venture that will be under the EU research and also the development program. The proposal has attracted 30 million Euros worth of sponsorship.

With the offer we should expect to see about seven EU urban areas being explored in various avenues, this is regarding the advancements in Smart City vitality.

There is a sum of about 25 associations; this is including the trailblazer IOTA. There will be a gathering that will be held by the Norwegian University of Science and Technology, referred to as NTNU. In this smart city project initiative, it will be completed with about 11 different propositions that will aid in the approval.

There Is More To Expect From The Project

In the next five years the urban areas in Europe such as Smolyan, Sestao, Voru, Alba Iulia, Limerick, Pisek, and Trondheim, will have the opportunity to explore the different avenues the digitized service is able to offer. It is from the utilization of the advanced administration like the blockchain technology and the ever-changing peer to peer innovation.

As a result, this will be able to enhance the personal satisfaction and also the current living standards. The aim of the smart city project is to ensure there is a proper creation of more energy that is expended. The encounters that will take place with the civilians who are living in the smart city will be imparted in the Europe urban areas. Thus, be proceeded to ensure there is a proper expansion in the idea of advancements in the smart cities.

It is very clear that the IOTA foundation is excited on the approval of this project, it is considered as being the very first Horizon 2020 project. The fact that IOTA will be able to explore and also demonstrate their utility in the company within this smart project in the various cities in Europe is a great stepping stone for the company.

There Is Sufficient Funding For The Smart City Project

The European-Research and Innovation-Program Horizon of 2020 will finance the consortium venture with about 20 million Euros. A portion of this will include about 10 million Euros of the in-kind associations. Expect to see this project starting in January 2019.

The project has been described to be 100 percent in line with the IOTA foundation, so this is an ambitious and open innovation that we need to keep a close eye on. Additionally, the smart cities project has become the center of innovation for the IOTA foundation.

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