IOTA Foundation will be part of the winning bid that can develop a smart city under the European Union Research and Innovation program. The +CityxChange consortium which consists of 25 organisations including IOTA will take few step in ensuring the futuristic energy independent cities become a reality.

The EU has confirmed €30 million for this project. €20 of it will be by the European Research and Innovation program Horizon 2020 while the remaining €10 will be of ‘in-kind’ efforts.![IOTA-Energy-Saving.jpg](https://cdn.steemitimages.com/DQmanoSTcUqUmgR3sawbm63GmKxQ1pGxoHa7BmFnDx2iVvw/IOTA-Energy-Saving.jpg)
What makes the project exciting is the use of blockchain and peer to peer technology to improve life by generating more energy.

Wilfried Pimenta, Head of Business Development at the IOTA Foundation commended the smart city approach, “Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together.”

IOTA foundation’s Norwegian co-founder David Sønstebø unable control his excitement. He said, “Being able to explore and demonstrate the utility of IOTA within the smart city context in numerous cities across Europe will be incredibly valuable going forward.”

+Cityxchange’s participants along with IOTA Foundation include  IES R&D, Powel AS, University of Limerick, Energy Agency of Plovdiv, Future Analytics Consulting, Research2Market Solutions, ISOCARP, TrønderEnergi Kraft AS, ABB Norway, ATB, AVIS Budget Group, Statkraft Varme AS, ESB Innovation RoI Ltd, ESB Networks, Ove Arup & Partners SAU, FourC AS, R.Kjeldsberg, Smart MPower, Space Engagers, Colaborativa, Officinae Verdi, NHP Eiendom, and GKinetic Energy Ltd.

Blockchain is trying to help in changing the harmful carbon emissions and pollution all over the world with the +CityxChange project.

IOTA Foundation has recently partnered up with United Nations Office for Project Services (UNOPS) to help use Blockchain for data management so that UNOPS can be more efficient.

 

IOTA is recently  ranked 9th regarding coin market cap with the value of IOTA at time of writing at $1.07.