The majority of modern cities reflect old urban models and specific historical contexts and need to deal with global and local issues never dealt with before. One example is the significant increase of urban population and objectives to reach sustainable development. There are many challenges to be faced: demographical, environmental, economic and institutional. At the same time we are facing one of the biggest challenges in the history of urban life, technological development grows at an exponential rate, providing not only solutions, but also promoting a series of shifts in paradigms in relation to our way of life, in how we relate and work. Due to technology – especially Information and Communications Technology (ICT) –, today society can communicate more easily, which allows them to consolidate and grow in networks, collaborate among themselves and obtain knowledge – an abundant and intangible resource that can change the current economic logic. Economy based of mass production of homogeneous products – one that exploits the environment without considering its consequences – is increasingly losing ground to new economies such as creative, collaborative, and knowledge-based economies where product and service productions are decentralized and diversified. The concept of Smart City arises from that context of technological evolution, increase in data generation, knowledge and consequently, of innovation. It is a challenging historical moment, but it also offers a variety of technological opportunities.