A Real-Time Blockchain-Based Multifunctional Integrated Smart Metering System

As the backbone of the smart grid, smart metering systems enable customers, as well as utility companies, to have access to real-time information on consumption patterns in electricity, gas, and water. From a technical standpoint, smart metering systems (1) reduce the need to verify electricity, gas, and water consumption services, (2) allow for efficient management of electricity, gas, and water consumption patterns, and (3) protect natural resources. Additionally, smart metering systems provide a number of important functions that should be performed manually, such as automatic and remote measurement of electricity, gas, and water consumption, connect or disconnect service, tampering detection, outage identification and isolation, and collecting, aggregating, and analyzing real-time information of the fundamental parameters associated with customers’ services, i.e., voltage, current, etc. Besides, considering the number of customers, there are several limitations to accessing and sharing the data between utility companies and customers, and therefore, reliable and secure communication infrastructure is needed. To resolve such issues, a conceptual and technological Blockchain-based system is developed to securely share the real-time collected data from a set of various sensors for monitoring and control of electricity, gas, and water consumption, namely the multifunctional integrated smart metering system. The proposed system takes advantage of a decentralized structure, connectivity of the Internet of Things (IoT) nodes, data privacy, and transparency and auditability. The proposed Blockchain-based smart metering system allows customers to securely monitor their actual electricity, gas, and water consumption for a specific period of time and review the full history of consumption. This leads to finding solutions to rationalize the consumption of electricity, gas, and water resources.