Tokenization of sustainable real estate in Smart Cities : Monetization as basis for construction, authorization and carbon neutralization in CPS

Abstract

Tokenization is a new means to monetize assets in new decentralized economies. New types of tokens allow for the tokenization of physical assets and real-world projects. They can also be used to monetize digital assets in Cyber-Physical Systems, as well as provide a decentralized means to authorize access to such devices and systems. This paper describes one such effort, where this new type of tokens acts as the basis for financing the construction of sustainable real estate (smart buildings), as well as provide a means for private investors (owners) and other interested third parties to gain access to revenue, as well as cyber-physical systems and digital twins within the constructed smart buildings, in an interoperable and transparent manner. Inter-operability with underlying systems and equipment is performed using IEEE P1451.99 IoT Harmonization interfaces. Monetization of underlying resources allows for advanced optimization of the process, in accordance with principles defined within Industry 4.0, smart cities, sustainability and quality of life for citizens.