Paradox says blockchain is open cities game-changer

First published in the Intertraffic Innovations Guide - April 15, 2020

Many cities rely on Internet of Things platforms to enable smart services, including parking management and traffic video surveillance. Most innovative solutions are based on standards, so they grant full interoperability: this means multiple urban applications can be managed through one single network, with less complexity and costs, and huge benefits in terms of effectiveness and scalability.

The security of open infrastructures is sometimes negatively perceived, but they are not necessarily a synonym of vulnerability. An interesting viewpoint comes from Swiss technology company Paradox Engineering (PE), part of the MinebeaMitsumi Group, a leading global provider of Electro Mechanics Solutions, also controlling Tinynode, which specialises in smart parking technologies.

Since the inception of its flagship solution PE Smart Urban Network, back in 2011, the company has always envisioned interoperability together with security-by-design principles. Today, it is moving one step forward by integrating blockchain technology.

As PE Smart Urban Network allows any city object to be connected and operated remotely, the blockchain links all devices to each other by the same cryptographic chain of trust. Granting the highest possible levels of data integrity and validity, this makes commissioning and operational procedures intrinsically cybersecure.

Moreover, thanks to the blockchain, data from parking lots, streetlights, and other sensors can be transformed into tradable tokens. Parking operators can buy “info-tokens” generated by car lots being vacant or busy to design and offer their own smart services, for instance. These can fuel private businesses, while cities turn their parking sensor investment into revenues, at the same time benefitting from lower traffic and pollution, and higher quality of life. The blockchain is increasingly challenging cities to change their game, and Paradox Engineering is ready to support this transformation by providing technologies to enable urban innovation and new business models.