This report examines the expanding role of smart contracts in city services, beginning with a foundational overview of blockchain technology and smart contracts, including their core principles and applications across various industries. Anchored by Frost & Sullivan’s top three strategic imperatives, the report examines how these technologies are reshaping digital transformation and operational efficiency in urban ecosystems. It provides an overview of the global smart contracts market, highlighting its strong projected growth driven by the need for secure and automation in digital agreements, as well as transparency requirements. Key growth drivers, including blockchain technologies, efficiency gains, the rapid emergence of decentralized applications, advances in decentralized finance and artificial intelligence, and government initiatives, are assessed alongside market restraints, such as regulatory uncertainties, scalability challenges, scarcity of skilled manpower, and interoperability limitations. The report also showcases real-world deployment of smart contracts in city services and profiles of companies identified as providing blockchain-based smart contract solutions.

Author: Nurin Syahirah Noor Azaf