Earlier this year, Monaco launched a strategic effort known as the Extended Monaco, Smart Principality Program. Its priorities are to improve what is already an excellent quality of life, to offer a new cycle of economic prosperity, and to increase the value of public service.
What Does Extended Monaco Mean For You?
An Ambitious Program
The aims of Extended Monaco are to:
- attract businesses and activities through the development of new technologies, using innovative financing methods
- become the world leader in environmental Initial Coin Offering, or ICO
- apply digitalisation to all public policies, including health and education
- improve and simplify administrative procedures
The Extended Monaco program will be fully implemented over the next three years, but since July, the Smart Principality has already started benefiting from 5G and its improved connectivity, aimed at making businesses more efficient and giving consumers faster access to even more information.
5G And All Its Benefits
5G is the fifth generation cellular network technology, necessary for super-connected autonomous cars, smart communities, immersive education and the Internet of Things – which means increased interconnectivity within industrial applications. This should ultimately improve productivity, efficiency and automation.
Thanks to 5G, Monegasque residents and visitors now benefit from free WiFi at all bus stops, and an electric, driverless navette shuttle bus is currently being trialled in Monaco-Ville. It services four stops: the Prince’s Palace, the Cathedral, the Oceanographic Museum and the Place de la Visitation, and is a free service which can carry up to fifteen passengers. A second bus route is also opening up in Larvotto, servicing the Grimaldi Forum and the hotel district.
Future Developments
Future developments include all students, from kindergarten onwards, being taught computer programming, and the launch of an e-Health Platform, offering online booking of appointments and diagnostics with healthcare professionals. Also on its way is a first-class connected transport system, and the use of drones for the prevention and intervention of fires.
Servicing business needs, companies will be offered a framework conducive to capturing the potential of digital technology, and a progressive digital ecosystem will be created in Monaco. The Smart Principality will become a funding nation, where progress is developed and financed.
In his speech outlining this ambitious program, HSH Prince Albert II said: “Digital technology … challenges our perceptions, renews our ideas, and is causing profound transformation for all of us in all aspects of our lives. Governments must seize the opportunity of these upheavals to give them positive meaning, to improve their public policies and to develop and reposition their economies.”
With Extended Monaco, the Smart Principality is at the forefront of an exciting new phase of technology, keen to ensure that its residents and visitors benefit from 5G and all its applications. This means that if you’re looking for property for sale, Monaco has never been more attractive. Now is the time to enjoy all the advantages the Principality has to offer, becoming part of this exciting digital revolution.
