Singaporean startup, Limestone Network, has planned to build a smart city in Phnom Penh, Cambodia.
Limestone Network has been actively trying to build smart cities powered by blockchain technology in Southeast Asia.
The startup was founded back in December last year by Eddie Lee who also holds the position of VP of Singapore’s FinTech Association (SFA).
The early stages of the project will involve the construction of a 100-hectacre project in Cambodia’s capital city, Phnom Penh. They plan to include houses for potential residents, malls, educational institutions and office buildings, among many others through which they aim to attract around 10,000 business and 200,000 people to the area.
Residents of the new smart city will be provided with a digital passport which will essentially enable them to access all the features of the Limestone app.
“By analyzing data that flows from sensors across the project site and using that data appropriately, it’s possible to create an environment that is used more efficiently, helping to ease problems like traffic congestion, and building a safe, accessible place to be,” said James Hodge, director of CBRE, a real estate firm.
He also believes that the use of smart technologies in urban environments in the capital will bring about a great deal of promising opportunities.
“Smart city technologies can vary widely in their application, acting to target and solve various problems that impact the urban environment. Tying several smart technologies together can offer a powerful result by monitoring patterns in how an environment is used and adapting how the space works to best fit how the people use the space,” he added.
Limestone Network also plans to build more smart cities in Malaysia, Singapore and Philippines.