Brief Explanation of Idea
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Preventing unauthorised meters from reporting data into Blockchain
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Detecting IoT meter tampering and data fraud
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Setting up smart contracts between regulators & organisations
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Data storage on Blockchain for data transparency
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Blockchain consensus algorithms for speed of transactions & security
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Securing the WRC issuance and trading mechanisms
Technical Architecture
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Preventing unauthorised meters from reporting data into Blockchain
A smart contract is created to store unique device address on the blockchain. Only the regulator can add IOT devices to the blockchain.. -
Detecting IoT meter tampering and data fraud
Exponential weighted moving averages are calculated to predict the expected value of volume A for next timestamp. If the difference is more than what is set by the regulator then an alert is raised to the industry officials. All processes taking place are decentralised. -
Setting up smart contracts between regulators & organisations
Multiple smart contracts are setup between regulators and organisations to make sure that clean water processed meets the required criteria setup by regulator. -
Data storage on Blockchain for data transparency
Data is stored on blockchain and hence is immutable once uploaded.
Tools and Technologies (Tech Stack)
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Ethereum
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Solidity
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Python
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React.js
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Node.js
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Web3.js
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MetaMask
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Pandas
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Tensorflow
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Azure SAAS
Screenshots
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Implementation Challenges
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Buying and making sure that IOT sensors are tamper proof would require significant amount of funds. It depends on number and varies from industry to industry.
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In case of fraud detection by the algorithms, the regulatory committee has to go and manually check for frauds. In case of adding the organisations and the respective sensors, the organisation has to go and make sure that happens. Thus some level technology aided manual inspection would be necessary.
Contributors