In Munich, began testing the infrastructure of a smart city on the blockchain

At the end of November 2020, Munich began testing the infrastructure of a smart city based on blockchain. Its implementation is expected to reduce car use by 10% and CO2 emissions by 34,000 tonnes per year.

Cambridge Artificial Intelligence Lab Fetch.ai from the UK is building a decentralised machine learning network for intelligent infrastructures. In partnership with German enterprise blockchain solutions provider Datarella, Fetch.ai began the first smart city infrastructure tests in Munich.

Smart city infrastructure on blockchain launched in Munich

As part of Munich's smart zoning trial called M-Zone, AI services based on multi-agent blockchains will be used to optimize parking resources in commercial real estate properties in the city center. The AI agent in the vehicle will be in touch with nearby parking agents to find the nearest available space and book it by the time they arrive. The same AI agent calculates payment and produces it for the driver when he leaves the parking lot.

AEA Fetch.ai (autonomous economic agents) will support the smart city infrastructure in Munich through an app that will autonomously negotiate the "price" of parking spaces between parking owners and motorists. The price in blockchain-based "tokens" will be placed on smart contract platforms such as Ethereum. At the same time, users can receive rewards in digital currency if they choose less popular or popular parking spaces. Carpark AEA defines reward levels based on maximum resource utilization.

The M-Zone project will help motorists save time and money, as well as reduce the stress on drivers who can easily find parking spaces. The City Council will benefit by optimising traffic flows and the environment by reducing CO2 emissions.^[1]

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