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The network can support more than 600,000 sensors and real-time management tools and is being made available for commercial deployment of IoT applications.

The company is working with representatives from cities and municipalities on issues relating to broadband expansion, 5G and digitisation.

Sandwell Council in the West Midlands plans to install more than 11,000 wirelessly connected lights by 2022 and convert all of its streetlights to LED as part of the upgrade.

The Greater London Authority has joined Open & Agile Smart Cities, the international network that supports cities and communities in their digital transformation.

The Urban Computing Foundation enables developers to collaborate on software to make improvements in areas such as mobility, energy and road infrastructure in connected cities.

The currency aims to strengthen the local economy, help tackle the cost of living, enhance city life and increase community involvement.