Opportunities of Linking Environmental Accounting and Digitization through Blockchain

With the water sector moving towards smart city integration, internet of things (IoT), artificial intelligence, and the data economy, blockchain technology can provide a future-proof, integrated foundation for water utilities. Currently in IoT systems, all data goes to a single point of security intelligence, which is vulnerable to possible manipulation and hacking.

Blockchain removes this single point of failure in an IoT system, by enabling device networks to protect themselves in other distributed ways. The collaboration between blockchain and IoT water network changes the way we manage water, without compromising our safety.

The introduction of sensors and big data usage by utilities require data reliability, accessibility, and analytics which can partly be managed via blockchain systems. Digitizing asset management can be made more reliable with this distributed ledger technology.

Smart sensors can communicate with each other to identify unusual water consumption, leakages, and pressure. The system can help review and oversee water consumption clearly, helping with changes in behaviors, leading to great savings. Integration to mobile devices, for real-time active monitoring, alerting someone immediately if there is a water leak when homeowners are away is also feasible.

The possibility extends to shutting down the main water supply automatically, preventing further damage due to irregular pressures. Open data systems can help set up a basis for trustworthy utilities and blockchain can increase the speed.

Therefore, blockchain as a technology should be considered as a core component to the integration of the water sector within operations across utilities, cities, and basins to address the key challenges encountered in the 21st century, not only in high but low-income countries.