Itron has 3 published patent applications relating to the integration of distributed ledger architecture into smart sensors and smart utility meters.
Itron is looking to evolve smart sensors and smart utility meters by addressing some of the current limitations associated with these devices. Decentralization and distribution of computing among network nodes has been limited by security concerns, accuracy of individual nodes, computing power of individual nodes, and regulatory requirements.
By introducing distributed ledger architecture into these devices, this enables smart sensors and smart utility meters to make use of smart contracts, allowing for near-real time payment of resources, specified rate contracts for individual meters, specified meter configuration data for individual meters, enabling smart sensors to participate in demand response events, and greater location awareness. Furthermore, by introducing distributed ledger architecture into these devices, Itron is enabling the use of cryptocurrencies for energy transactions.
This series of patent applications signifies Itron's entry into the Cryptocurrency sector, with all 3 categorized under the "Energy" sub-category.
