Public lighting is an important public service but it is an annually recurring cost . By using smart lighting, energy savings can be realised through dimming, on/off programming or motion activation and the maintenance cost can be optimized by predicting the best time to schedule maintenance through the use of collected data.
Public lighting can be turned into revenue by upgrading the public lighting network to an open multipurpose power-data network that allows stakeholders to roll-out new applications that make the best use of the network's properties and features.
MINIMIZING TRANSACTION COSTS.
Over time, millions of transactions will be processed every day, low transaction costs and immediate sharing revenue between the stakeholders is an essential part of any transaction system.
TREScity’s blockchain based micro payment system is developed in collaboration with KBC, a major Belgian Bank which will act as the trusted third party. No post processing or payment is required which drastically reduces transaction costs.
Overall, each application will be charged based on its energy consumption, the amount of data exchanged and the time of use. Depending on the type of application, an additional fee can be charged for renting space in the cabinet.
It is expected that basic IoT applications will be charged for the amount of data exchanged. By way of example, an additional fee may be charged for small cell 5G radio deployment and for the charging/discharging infrastructure.
Contact us to discuss in detail how your city or municipality can benefit from this.