A Singapore-based institute of higher learning has developed a novel solution that provides enhanced security for IoT used in smart metering systems, ensuring reliable electricity meter readings.
The technology developer is seeking to partner with industry players to commercialize the technology through licensing. Preferred industry players include governing and regulatory bodies, smart meter manufacturers, system integrators, energy service providers, and security partners.
The innovative technology provides a secure end-to-end data integrity protocol for IoT used in smart metering systems. This security protocol will enable the detection of tampered electricity meter readings at the concentrator in Advanced Metering Infrastructure (AMI). The technology ensures that the electricity readings are not tampered with by employing Chameleon Hashing and Signatures, which generate hash collisions as an evidence of secured meter readings.
One of the major applications of the technology is providing a secured end-to-end data integrity protocol for domestic and industrial energy (electricity, gas, and water) metering systems. The technology also has the potential for deployment in smart homes and in wearable devices for applications, such as e-healthcare monitoring, connected cars, smart supply chain and logistics, and more.
According to Frost and Sullivan's research studies, the global smart meter market was valued at $13 billion in 2017 and is expected to grow at a CAGR of 10.05% from 2017 to 2022. With increased government mandates across the globe that aim to convert existing metering infrastructure to smart metering systems, the demand for smart meters is expected to witness an upsurge in the coming years.
The value proposition of this innovative security solution includes the following: