DigitalTown Introduces Blockchain Platform for Smart Cities
(Thomson Reuters ONE) -
A Digital Framework for Local Stakeholders to Own the Future of Cities
SEATTLE, Sept. 13, 2017 (GLOBE NEWSWIRE) -- DigitalTown, Inc. (OTC PINK:DGTW), a
leading provider of smart city portal solutions, announced today the launch of a
Blockchain-based Distributed Ledger for managing shared ownership of each city
in its global network of city portals. The unprecedented move heralds a new era
for empowering public-private partnership in the development of thriving local
economies.
DigitalTown operates a global network of more than 20,000 city portals such as
Nashville.city that make it easy for residents and visitors to search, share and
shop local. Each city portal is equipped with SmartSearch, a powerful local
search engine that provides locally relevant information tailored to personal
preferences. Registered merchants are provided with an online storefront with
which they can sell locally and globally, paying only transaction fees. All
legal residents are provided with a free SmartWallet that includes a verified
online identity with which they can securely engage and transact with services
from both the public and private sector.
For cities where the municipality, or its proxy itself does not license the
platform for their city, each resident of a city is to be allocated a fractional
ownership unit of the city platform. The units may be claimed during a defined
subscription period, after which the distributed units become freely traded and
accessible to both residents and non-residents.
Rob Monster, CEO of DigitalTown, commented on the launch, "Since the advent of
online search, local and regional institutions such as municipalities, chambers
of commerce, convention and visitor bureaus, destination marketing
organizations, trade associations, as well as other local institutions have been
competing with each other for ranking in search engines. In many cases, they
have also experimented with buy local initiatives using directories of local
merchants but with no ability to transact. These uncoordinated digital efforts
have often resulted in an inconsistent user experience causing both locals and
visitors to rely on non-local online tools to find out where to go, what to do,
as well as where to stay, shop or eat. Local ownership of a unified city
platform provides the organizing framework to regain control over the online
economy, achieve self-sustaining economic development, and equip local
stakeholders to win in the Digital Age."
A Breakthrough for City Innovation
The DigitalTown SmartCity platform provides cities with the tools required to
compete and win in the Digital Age:
A Single Verified Login for the City: The DigitalTown single-sign-on
SmartWallet provides every registered citizen with a free verified login with
which they can securely connect and transact both locally and globally across
both public and private services - everything from local shopping, booking a
table at a restaurant or signing up for parks and recreation. Community members
and businesses can also securely transmit funds in real-time without fees using
their SmartWallets.
A storefront for every business: DigitalTown provides integrated solutions for
local commerce across retailers, service providers, dining, and lodging.
Registered businesses can secure a free storefront with which to begin
transacting immediately. Merchants pay only transaction fees, often far below
the fees to which merchants are subjected to when consumers don't buy local,
e.g. paying up to 40% for a hotel booking.
A secure platform for local innovation: Software developers in a city can use
DigitalTown's Application Program Interface (API) at no cost. During London Tech
Week in June 2017, attended by more than 50,000 delegates from both London and
abroad, nearly 400 developers participated in the Smart.London global Hackathon
sponsored by DigitalTown in cooperation with our London-based partners.
Shared Local Ownership for Aligned Incentives and Local Innovation
Across the global network of more than 20,000 cities, DigitalTown has reserved
80% ownership interest of each city portal for local and regional institutions
who are committed to local online economic development. Local owners who enter
partnership agreements with DigitalTown are also granted 'Right of First
Refusal' for each city portal, thereby securing a path to consolidating full
local ownership. Centralized payment processing by leading global payment
processors provides a seamless path for the municipality, or its proxy, to
become the Merchant of Record.
A Scalable Model for Local City Platform Ownership
To bring about such an important change, DigitalTown is partnering locally and
globally. In the US, DigitalTown is working in cooperation with long-standing
institutions such as local Chambers of Commerce, Trade Associations and the
Municipalities themselves. Individuals from around the world are encouraged to
sign up at DigitalTown.com to secure their ownership interest in their local
city platform, and to be eligible to participate in future auctions for
unclaimed units for their city. A copy of the Blockchain whitepaper describing
the fractional ownership distributed ledger can be obtained at
DigitalTown.com/blockchain.
As part of the worldwide rollout of the DigitalTown SmartCity platform,
DigitalTown is scheduled to exhibit at the following events: World Chambers
Federation in Sydney from September 19-21, International City Managers
Association Expo in San Antonio from October 22-25, and Smart City Expo in
Barcelona from November 13-15. Major rollouts are now in progress in London
(Smart.London), Miami (Smart.Miami), Nashville (Nashville.city), San Diego
(SanDiego.city). New multi-stakeholder city rollouts have now been confirmed
for Bavaria, (.bayern), Charleston (Charleston.city), Melbourne (.melbourne),
Nordrhein-Westfalen (.nrw), Sydney (.sydney), and Vienna (.wien).
About DigitalTown
DigitalTown, Inc. (DGTW) powers Smart Cities to succeed in the Digital Age. The
company provides turn-key hosted solutions to power "Digital Towns", which
improve Quality of Life for residents and visitors through integrated solutions
for economic development, civic engagement and digital inclusion for cities
around the world. For more information about the company, please
visit www.digitaltown.com.
Safe Harbor Language: Any statements contained herein related to future events
are forward-looking statements and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act 1995. Readers are
cautioned not to place undue reliance on forward-looking statements.
DigitalTown, Inc. undertakes no obligation to update any such statements to
reflect actual events.
Media Contact:
Rob Monster, Chief Executive Officer
DigitalTown, Inc.
(425) 295-4564; rob(at)digitaltown.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DigitalTown via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 13.09.2017 - 18:03 Uhr
Sprache: Deutsch
News-ID 559827
Anzahl Zeichen: 7945
contact information:
Town:
Burnsville
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 256 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DigitalTown Introduces Blockchain Platform for Smart Cities"
steht unter der journalistisch-redaktionellen Verantwortung von
DigitalTown (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
