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Blockchain-based smart contracts as new governance tools for the sharing economy

Fiorentino, S; Bartolucci, S; (2021) Blockchain-based smart contracts as new governance tools for the sharing economy. Cities , 117 , Article 103325. 10.1016/j.cities.2021.103325.

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Abstract

Examples of sharing economy platforms are proliferating, generating new concerns on the exploitation of local resources, ethical and intellectual properties. Necessary changes are required to the regulatory frameworks of our cities. This paper proposes an application of blockchain technology for planning governance purposes. This new cutting-edge technology, currently under-exploited in applications for smart cities planning, may represent a fundamental building block for the digitalization of the sector. We propose blockchain-based management systems (BMSs) as new governance tools to improve traceability, transparency, and decentralization of transactions in the sharing economy. We build a BMS prototype for the management of co-working spaces (CWSs). In particular, we show how a blockchain can be used to track transactions between users (e.g., rent payments), and to advertise or store information about a given space (e.g., building specifications, IP conceived within the space). A large amount of data will be permanently and securely stored on ledger and made available to both institutions and corporations, providing a wide range of new governance tools and services to local authorities of the future. Similar BMSs can be developed for different types of buildings or public services purposes.

Type: Article
Title: Blockchain-based smart contracts as new governance tools for the sharing economy
DOI: 10.1016/j.cities.2021.103325
Publisher version: http://dx.doi.org/10.1016/j.cities.2021.103325
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Co-working spaces, Urban governance, Blockchain, Smart cities, Sharing economy
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning
URI: https://discovery.ucl.ac.uk/id/eprint/10131020
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