Blockchain for Management of Natural Resources Using Energy Trading as a Platform

Abstract

Nowadays, the need and necessity of renewable energy are one of the most important techniques which play a major role in our day-to-day life. Renewable energy is one of the best natural resources. In the earth, energy is available in the form of light, breeze, rain, surfs, and thermal. Resources are naturally renewable and it can be renovated. The proposed work mainly concentrates on blockchain technology in rainwater management because the limitation of water is one of the major reasons which is mainly caused by the climatic changes in the weather, floods, and amplified pollution. Blockchain helps to make a perfect decision by the assortment of data of water quantity and water quality. It empowers clean water projects to tap investors around the world with unparalleled breadth and ease. By giving a strong fireproof cabinet, safeguards transparency, and distributed ledger to document relations among the festivities, this branch of knowledge might deeply indicate a change in the way of rainwater resources which can be achieved and traded easily and one example is the use of the smart water grid (SWG) which is a two-way mechanism. One of the best is network transmission between the sensors and the mechanism that is constant and distant used for observing the water supply mechanism. The other one is the smart grid that can display many alternative parameters such as coercion, an improvement in the quality, rate of flow, a temperature which is more efficient toward this technology. By making use of this technology, a model based on an energy trading system helps the growth of industries from small-scale industries to large-scale industries that provides outstanding practice for energy efficiency measures is proposed. It mainly helps in monitoring the truth value of water. By the use of smart grid and sensors, the data can be fetched within a fraction of seconds. Finally, blockchain collects the exact record of water transaction and this makes as an account which helps in the management of water resource.