On July 23 Limestone Network, based on technology blockchain Singapore’s smart city building project has announced that it is introducing its token called LIMEX on kryptogiełdę Bitrue.
LIMEX was created to integrate all components of a smart city. These include property management, shopping centers, payments and financial services, transportation, parking lots and entertainment. This will lead to the creation of an intelligent urban ecosystem.
Limestone Network is building a smart city
Business Limestone Network has started a private 100 hectare construction project in Phnom Penh, the capital of Cambodia. The plan envisages 10,000 permanent tenants and a daily population of 190,000.
According to reports Limestone The network will use technology Blockchain. It will enable data collection through the daily contact points visited by residents. They will be made available without violating consumer privacy. The originators also hope that the project will allow a deeper understanding of the city’s functions, including road traffic, energy and water consumption, residents’ movements and more.
Limestone The network also plans to cooperate with external partners. The venture will be attended by application producers ride-hailing and financial institutions. This is to strengthen the urban ecosystem.
Technology based on user data
Limestone operates on the basis of consumers’ authorizations to manage and use their personal data. Thanks to innowacjiom service providers and traders will be able to quickly verify the identity of their customers when concluding smart contracts.
“Beauty blockchain it is an opportunity to hand over power to consumers ”.
Said Eddie Lee, co-founder and managing partner Limestone Network.
The digital transfer of data also eliminates the need for intermediaries. This causes the commission money to remain in the pockets of clients.
The company also has a mobile application. It provides an interface that will allow residents to register and obtain a digital passport. After successfully verifying their identity against global databases, they will have access to features such as digital payments, access to buildings, and microloans etc.
The capital of South Korea plans to introduce its own digital currency as part of the transformation into a smart city based on blockchains.