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In this paper, we devise a novel radio resource block (RB) structure named dynamic resource block structure (D-RBS) which can handle low latency traffics and large fluctuations in data rates by exploiting smart time and frequency duplexing. In our framework, the main resource block with a predefined bandwidth and time duration is divided into several small blocks with the same bandwidth and time duration. Depending on the service requirements, e.g., data rate and latency, the users are assigned to some these small blocks which could be noncontiguous both in frequency and time. This is in contrast to the previously introduced static resource block structure (S-RBS) where the size of each RB is predetermined and fixed. We provide resource allocation frameworks for this RB structure and formulate the optimization problems whose solutions are obtained by alternate search method (ASM) based on successive convex approximation approach (SCA). We provide a global optimal solution by exploiting the monotonic optimization method. By simulation we study the performance of our proposed scheme with S-RBS scheme and show it has 26% gain compared to the S-RBS scheme.