Smart cities can change the way we pay

THE pace of technological developments over the past decade surpasses anything the world has seen before. Hardly a day seems to go by without news of a new innovation, many of which are impacting our everyday lives, making once hypothetical sci-fi cities an increasingly realistic possibility in this generation's lifetime. More and more governments are recognising the possibilities this entails - in cities ranging from Dublin and Dubai to Satna and Singapore - and leading the way in embracing technologies that will allow them to assume smart city status.

For the uninitiated, the Smart Cities Council describes a smart city as one that has digital technology embedded across all city functions. What this should result in is a far better provision of services, and reduced costs and consumption, allowing citizens to have an improved quality of life. We are already seeing many components of a smart city around us - the GPS system that tells you to avo…