Claims:WE CLAIM
1. A method of regulating request and provision of resources associated with transactions in a region, comprising:
identifying, by a smart city resource governance system, one or more transactions of one or more resources, involving request and provision of the one or more resources;
identifying, by the smart city resource governance system, one or more contexts for each of the one or more resources based on one or more parameters;
determining, by the smart city resource governance system, an equation for a ratio of the request and provision corresponding to each of the one or more contexts, wherein a predefined threshold boundary is set for each of the ratio;
analysing, by the smart city resource governance system, relationship between the ratio corresponding to each of the one or more contexts;
determining, by the smart city resource governance system, one or more rules for performing the one or more transactions based on the analysed relationship;
deriving, by the smart city resource governance system, one or more constraints to the one or more transactions associated with the request and provision of the one or more resources based on the predefined threshold boundary, the one or more rules, and type of the one or more transactions; and
enforcing, by the smart city resource governance system, the one or more rules on the one or more transactions by applying the one or more constraints to the one or more transactions, for regulating request and provision of resources associated with transactions.

2. The method of claim 1, further comprising:
monitoring the one or more transactions and thereby generating monitoring data for real-time analysis;
computing values of each of the ratio based on the analysis of the monitoring data;
inserting one or more additional contexts for each of the one or more resources based on the one or more parameters and the monitored data, in real-time;
altering the equation of ratio for the corresponding request and provision with the one or more additional contexts; and
adjusting the values of each of the ratio to update the predefined threshold boundary of the corresponding one or more resources in real-time.

3. The method of claim 2, wherein the request and provision associated with the one or more resources are monitored based on the equation of the ratio of request and provision.

4. The method of claim 2, wherein the one or more constraints are based on the ratio of each of the one or more contexts and ratio of the one or more additional contexts.

5. The method of claim 1, wherein analysing relationship further comprises determining impact of the request and provision associated with the one or more resources on each of the one or more contexts.

6. The method of claim 2, further comprising updating the one or more rules based on the relationship between the ratio corresponding to each of the one or more additionally inserted contexts of resource in real-time.

7. The method of claim 1, wherein the one or more parameters comprises at least one of one or more participants of smart city resource governance system, characteristics of the one or more resources, association of the one or more participants, coverage vicinity of the one or more participants, and utilization of the one or more resources by one or more participants.

8. The method of claim 1, wherein determining the equation of the ratio of the request and provision is comprises equating the ratio of request and provision based on at least one of the one or more contexts, the one or more participants and identified one or more parameters.

9. The method of claim 2, wherein the predefined threshold boundary is updated by placing the value to the ratio and it is enforced by the one or more constraints based on the altered equation of the ratio of the request and provision.

10. A smart city resource governance system for regulating events associated with transactions of resources in a region, comprising:
a processor;
a memory, communicatively coupled with the processor, comprising processor executable instructions, which, on execution, causes the processor to:
identify one or more transactions of one or more resources, involving request and provision of the one or more resources;
identify one or more contexts for each of the one or more resources based on one or more parameters;
determine an equation for a ratio of the request and provision corresponding to each of the one or more contexts, wherein a predefined threshold boundary is set for each of the ratio;
analyse relationship between the ratio corresponding to each of the one or more contexts;
determine one or more rules for performing the one or more transactions based on the analysed relationship;
derive one or more constraints to the one or more transactions associated with the request and provision of the one or more resources based on the predefined threshold boundary, the one or more rules and type of the one or more transactions;
enforce the one or more rules on the one or more transactions by applying the one or more constraints to the one or more transactions, for regulating events associated with transactions of resources.

11. The smart city resource governance system of claim 10, wherein the processor is further configured to:
monitor the one or more transactions and thereby generating monitoring data for real-time analysis;
compute values of each of the ratio based on the analysis of the monitoring data;
insert one or more additional contexts for each of the one or more resources based on the one or more parameters and the monitored data, in real-time;
alter equation of the ratio for the corresponding request and provision with the one or more additional contexts; and
adjust the values of each of the ratio to update the predefined threshold boundary of the corresponding one or more resources in real-time, thereby regulating the request and provision, associated with the one or more transactions corresponding to the one or more resources.

12. The smart city resource governance system of claim 11, wherein the request and provision associated with the one or more resources are monitored based on the equation of the ratio of request and provision.

13. The smart city resource governance system of claim 11, wherein the one or more constraints are based on the ratio of each of the one or more contexts and ratio of the one or more additional contexts.

14. The smart city resource governance system of claim 10, wherein the processor is configured to analyse relationship by determining impact of the request and provision associated with the one or more resources on each of the one or more contexts.

15. The smart city resource governance system of claim 11, the processor further configured to update the one or more rules based on the relationship between the ratio corresponding to each of the one or more additionally inserted contexts of resource in real-time.

16. The smart city resource governance system of claim 10, wherein the one or more parameters comprises at least one of one or more participants of smart city resource governance system, characteristics of the one or more resources, association of the one or more participants, coverage vicinity of the one or more participants, and utilization of the one or more resources by one or more participants.

17. The smart city resource governance system of claim 10, wherein the processor is configured to determine the equation of the ratio of the request and provision by equating the ratio of request and provision based on at least one of the one or more contexts, the one or more participants and identified one or more parameters.

18. The smart city resource governance system of claim 11, predefined threshold boundary is updated by placing the value to the ratio and it is enforced by the one or more constraints based on the altered equation of the ratio of the request and provision.

Dated this 07th day of February 2017

R Ramya Rao
Of K&S Partners
Agent for the Applicant
, Description:TECHNICAL FIELD
The present disclosure relates to field of resource governance. Specifically, but not exclusively, the present disclosure relates to a method and a system for regulating events associated with transaction of resources in a smart city.