This week, we highlight how Geeq‘s secure, scalable, and efficient multi-chain platform will support the exponential growth of data services in smart cities. And where better to have such a conversation than at one of LATOKEN’s Online Road Shows, hosted by Sonny Mohanty in Singapore, the #1 Smart City in the world?
IoT already is used to improve traffic control, emergency response, public utilities, and air quality. Experiments in smart cities have shown IoT can help reduce traffic accidents, use energy more efficiently, and optimize grid data collection and sharing for better urban planning.
Geeq’s Proof of Honesty Uniquely Provides Transparency
Concerns about security and privacy are the largest roadblocks to the public’s acceptance of IoT in their everyday lives. We understand it’s natural for people to question how this new technology could be used against them while also wishing for the benefits this same technology could provide. People want the best of both worlds and at Geeq we won’t settle for less!
As long as there are concerns about who might misuse data to spy on them or track them, people will be cautious. However, smart cities that use Geeq will have an easier time surmounting those barriers. Geeq’s blockchain ecosystem provides smart city builders ways to prove their practices are transparent and accountable. No other blockchain platform provides their clients with more credibility.
How does Geeq help? Geeq’s Proof of Honesty (PoH) makes it easy for any user to tell if the data they observe has been compromised or not. Geeq’s Edge Security means the information recorded by any IoT device is independently verifiable. In short, the full benefits of Geeq’s cutting edge security extends to every device that uses Geeq, anywhere in the world.
All The Capacity a Smart City Will Need
As Seasoned Investor Jorge Sebastiao noted, Geeq’s secure PoH consensus protocol is innovative and sustainable. In addition, he noted how important it was that Geeq’s multiple chain architecture scales to accommodate all the transactions a smart city would need.
Even a million transactions per second is simply not enough, and the simple reason for that is, imagine a smart city of today, you have tvs, you have parking sensors, you have safety sensors, water meter sensors, and a whole multitude that need to come together to kind of drive the data that powers the smart city, but it needs to be trusted data – otherwise the smart city collapses. So I think there are plenty of use cases.Jorge Sebastiao, Board Member of Confidential
Geeq Lowers the Costs of Doing Business
Geeq’s core business model is built around the ability for businesses to outsource permissionless validation of blockchain services to Geeq. At Geeq, clients can focus on their areas of expertise – traffic, public safety, or green spaces – without worrying about the hidden costs that may well be imposed by other blockchain platforms.
Geeq’s multi-chain approach allows developers, businesses, and cities to set up blockchain applications that are validated independently by their own networks. That means a client does not have to endure bottlenecks or suffer latencies when there is activity on someone else’s application. Applications do not share overhead which greatly reduces costs. As you might imagine, these are highly desirable characteristics for smart city applications.
If you’re in Dubai, you might have a blockchain that handles a thousand transactions per second and is focused on traffic. You don’t really need to mix together what happens on London bus transport with the Dubai chain.
John Conley, Geeq Founder and Chief Economist
Geeq is an Enabling Technology
Why else might a developer, business, or city like to build on Geeq? Because Geeq’s business is to put its enabling technology to work for others, without interfering in the business decisions of others. Builders who benefit from the efficiency and low costs of using Geeq will have, in turn, more room to set their own prices or taxes according to their own local conditions.
Low costs, limitless scalability, credible accountability and transparency for IoT? What’s not to love? Smart city builders, you have a green light to build all the networks you need, using Geeq’s decentralized, secure, blockchain ecosystem.
Thanks for reading about Geeq: an ecosystem of interoperable, customizable blockchains built with real world use cases in mind.
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