Will Cities Be Able To Monetize Their Digital Twins?

 

On this special episode of MarketScale TV, live from the MarketScale Trade Show Booth, Voice of B2B Daniel Litwin talked with Paul Doherty, President, and CEO of The Digit Group, a smart city solution provider giving solutions on everything from master planning and architectural design services to real-world implementations of blockchain and IoT solutions.

“The idea behind this is that because we have the digital assets that we should be able to do something more with them, rather than just build the building.” – Paul Doherty

Both the digital twin and NFT markets are electric right now. But, the tokens potentially could have a long-term impact on the real estate market. According to Doherty, any time The Digit Group works on a project, they create digital assets, such as drawings, that represent something that exists in the real world.

“The idea behind this is that because we have the digital assets that we should be able to do something more with them, rather than just build the building,” Doherty said. “Otherwise, it’s just digital dust sitting there. And, the fact that we can actually geoposition them somewhere on the planet earth, now all of a sudden this thing has value.”

The value is in some very functional things, such as studies of traffic. These digital twins are treated differently by The Digit Group. The digital twins of the built environment are static data. But, in real life, static data is constantly colliding with dynamic data, such as the movement of people and traffic.

“By creating an environment that celebrates that and federates it that you can now start to have a singular experience, two big things happen,” Doherty said. “Number one: we need to manage that data, and the best way we found is to actually authenticate it so that people understand that I’m not walking through a wall, I gotta go around a wall, even in the digital world. I need to have it in a decentralized manner, but in a distributed ledger technology environment.”

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

cardiac care
Just Thinking… About the Role of Critical Thinking in Cardiac Care With Dr. Minh Tran
July 14, 2025

As cardiovascular disease continues to rank as the leading cause of death globally, the importance of expert cardiac care has never been more evident. The American Heart Association reports that over 800,000 Americans experience a heart attack each year, and many rely on the fast, critical thinking of cardiac specialists to survive. In an…

Read More
IP radios
Icom’s IP Radios Fill Critical Gaps in Privacy, Range, and Cost for Commercial Fishermen
July 11, 2025

Hamvention 2025 served as a platform for exploring how advanced radio technologies are supporting specialized industries. Secure and far-reaching communication remains a critical need for the commercial fishing sector. Rick Waedekin, the President of Coast Marine Marketing and Icom’s West Coast Sales Rep, spoke with Harold Whittlesy of Satellite Technical Services about the growing…

Read More
DXpedition
Icom Powers 3Y0K : Ham Radio’s Most Ambitious DXpedition to Remote Bouvet Island Part 1
July 11, 2025

Bouvet Island sits at the edge of the world. It is frozen, uninhabited, and almost impossible to access. Fewer people have set foot there than in space. That level of remoteness is exactly what makes it so valuable to amateur radio operators. The island ranks tenth on ClubLog’s list of Most Wanted DXCC entities,…

Read More
entrepreneurial success
The Hidden Key to Entrepreneurial Success: Build Momentum Through Personal Branding and Authentic Networking
July 10, 2025

What if the biggest pivot of your career started with a conversation?  In this episode of Professional Quotient, host Jason Winningham welcomes Fanny Dunagan, CEO and Content Strategist of PathLynks, LLC. Fanny shares her journey from high-pressure consulting in Singapore to founding her own media and branding company — and why learning to network…

Read More