Page 91 - U4SSC Blockchain for smart sustainable cities

Recommendations:

City administrators, policy-advisors and decision-makers should…

• Approach blockchain with caution as it is a technology with interesting possibilities that is
not yet fully understood.
• Build, over time, a blockchain for cities ecosystems in collaboration with other stakeholders
in the city or community, including businesses, academic institutions, financial institutions,
spaces for innovation, technical experts, community bodies and residents, as well as inter-
city cooperation.
• Develop within the ecosystem, expert capacity as well as a wider understanding of the
technology in terms of what blockchain and smart contracts are, their potential and risks
for the community and individuals, and how they could be viewed within the local legal
frameworks.

• Identify or create an appropriate regulatory and ethical framework to govern blockchain
initiatives, which addresses legal matters, takes into account data security and privacy, and
protects against stakeholders acting in their interests in a manner that could constitute a
threat to sustainability.

• Focus on planning that takes a need-driven approach – that is, seek projects that address
real local needs and is aware of the risks associated with an exclusively technology-driven
approach to smart blockchain-based initiatives and the prevalence of hype in driving new
technology adoption.

• Be sensitive to the technological and digital exclusion of parts of society in urban areas
or within certain communities and assess use-cases for their potential to exacerbate or
increase such inequalities.

• Prioritise use-cases with the potential for positive impacts on sustainability, particularly
from a social and environmental perspective, plan to measure the impacts and closely
monitor positive and negative outcomes during implementation.

• Explore within the ecosystem, innovative funding mechanisms to support innovative
projects.
• Ensure that initiatives undertaken are closely monitored and reported on and that the
outcomes and lessons learned are shared within the ecosystem.

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