Mastercard announces inaugural participants of City Possible initiative
- Mastercard has announced the first 16 cities for its City Possible initiative, which it launched late last year. The initiative is intended to bring together global entities to find innovative approaches to city's problems.
- The chosen cities are: Altamonte Springs, FL; Athens, Greece; Aurora, IL; Baltimore; Dubai, United Arab Emirate; Dublin, Republic of Ireland; Helsinki, Finland; Honolulu; Kansas City, MO; Melbourne, Australia; Prague; San Diego; as well as the Sydney, Australia-area communities of Campbelltown, Canterbury Bankstown, Liverpool and Wollondilly. Additional cities will be able to join the network.
- Once the network identifies key challenges that cities around the world share, City Possible will provide a framework for co-creating, testing and scaling solutions through a public-private partnership (P3) model. Previous Mastercard smart city collaborations involved addressing traffic congestion and transit fare collection.
Mastercard has been trying to position itself as a leading smart cities partner that helps to foster innovation and solutions for cities around the world. Its transit solutions arm recently announced that it had helped to expand tap-and-go and touchless transit fare payment technology to 150 cities.
A significant part of the City Possible initiative is a partnership with the Technology and Entrepreneurship Center at Harvard University (TECH) that will host programs to foster learning exchanges among global city leaders. The first of these focuses on urban planning, data insight and mobility services. "Through our learning exchanges, we want to equip CIOs and other urban leaders to better navigate this dynamic environment," Prof. David S. Ricketts, fellow at TECH, said in a statement.
The private sector tends to lead the public sector in the technology space so it makes sense for cities to rely on a P3 model to implement innovative solutions. The City Possible initiative aims to bring together a variety of private companies and municipal leaders to devise sustainable solutions that could help a variety of cities create a better quality of life for their residents.
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