According to the newest Gartner Hype Cycle, both blockchain technology and Internet of Things are emerging disciplines, they need some time to mature, an estimated time of 5–10 years before major initiatives are realised. But there are already a lot of use cases of these technologies at conceptual level. The thesis provides a solution for combining these nascent and hyped technologies.
After reviewing the related literature of blockchain technology and the feasible use cases in the diversified and sprawling business area, it displays a conception of blockchain-based smart water meter system with demonstrating a suitable architecture and a mini trial system. The thesis contains a detailed explanation of an encoded trial version of the future system, it explains the encoded smart contract line-by-line.
The thesis shows how blockchain technology would make better smart metering, not just from a technological point of view, but also from a business viewpoint. It has an emphasized focus on enumerating the expectations and challenges of three different models (current water meter system, smart water meter system without blockchain and smart water meter system with blockchain).
The featured future system can make a revolution in the case of water metering and give a solution for the forthcoming water issues, but way of life should move to a more digitized way of life and some questions should be discussed before implementing fully blockchain-based smart water meter system in future reality and everyday life. The thesis also highlights a presentation of a multi-utility blockchain-based application as further development which can bring even more benefits and features of blockchain technology.