A Singaporean start-up is looking to transform the face of Southeast Asia by building smart cities powered by block chain technology – starting with an ambitious 100-hectare mixed-use development project in the heart of the Cambodian capital, Phnom Penh.
Limestone Network was founded in December last year by Singapore entrepreneur Eddie Lee, 39 who is also the vice president of Singapore FinTech Association (SFA).
According to Tech in Asia, the beginning of this undertaking will involve the construction of a 100-hectare mixed-use development project in the centre of Cambodia’s capital city.
The project will include residential homes, office buildings, shopping malls, retail outlets, schools, and a gigantic convention centre, attracting 10,000 businesses and close to 200,000 people.
All residents and workers will be provided a ‘digital passport’ that will allow them full access to all the features of the Limestone app after thorough verification. Among other things, holders of the digital passports will be able to make digital purchases and move from building to building within the smart city.
After Cambodia, Limestone Network plans to build smart cities in other parts of Southeast Asia, including Malaysia, the Philippines, and Singapore.