Abstract: Embodiments involve using smart contracts in a decentralized network as a framework for a smart city commodity exchange. In at least one embodiment, consumers and service providers negotiate terms and conditions of a smart contract for providing goods or services to the consumer. The service provider may provide all requested goods and services or bundle goods and services provided from multiple vendors. Verification of smart contract fulfillment may be assisted by information from sensors or other independent data collection. The service provider may provide discounted services in exchange for information to provide to a third party. Resources of both the consumer and service provide are committed during smart contract negotiations until completion of the smart contract, or rejection of the offered terms. Resource commitments, smart contract generation, performance of the smart contract and intermediate transactions are recorded in public ledgers according to Blockchain protocols.