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Blockchain, Featured, Technology

Applications of Blockchain for Smart Homes: What Solutions can It Bring?

Smart homes have turned out to be a notable part of the digital revolution. Developing the infrastructure of connected devices working in unison for the daily convenience of people uncovers new challenges and demonstrates the vast potential for the industry of IoT to overcome. Security is one of those. Read on to find how blockchain can bring a change in safeguarding personal information and build a healthy environment for smart homes. 

Challenges Faced by Homeowners in Safeguarding Smart Homes | How Blockchain Solves the Problem

Smart homeowners struggle to safeguard their information from outside intrusions and usually fail to do the same. In the meantime, advanced connected devices for home safety keeps growing, along with the number of smart homes. Since smart devices most likely utilize centralized cloud services, including a single access point, they turn out to be the honeypots for hackers. This is where blockchain comes in. 

Blockchain technology can help improve the security of connected devices within smart homes. Homeowners can store data from connected devices within blockchain-enabled databases, where every device will contain a digital ID assigned to it. With the help of encrypted private keys, homeowners can configure particular parameters for connected devices and carry out transactions on a safe network. 

Other than that, homeowners can dynamically transform access levels and parameters concerning connected devices with a dedicated management portal. With the help of smart appliances and portal integration, they can control access from a distance with the help of IoT. It is one of those solutions that will reportedly store configuration information and transform log within an immutable and permanent blockchain database. 

Apart from this, homeowners can also remotely authorize and control access to their smart homes with the help of a distributed peer to peer network. Authorized and legitimate guests could additionally manage connected devices frictionlessly and seamlessly with the help of a mobile app. 

In this manner, both renters and homeowners can exert full control over their data and smart apartments. It also includes lighting, security, temperature, access management, and add-on devices and rooms, with high rental user experience and convenience. Moreover, homeowners can also safely share access with numerous people along with system enforced terms between smart contracts and parties. 

Blockchain and Smart Tanks for Homeowners

Apart from taking care of the homeowner’s safety and security, blockchain also helps manage water supplies at smart homes with smart tanks. Users generally forget to power off their tanks, when it is filled, in case of conventional tanks. This leads to water wastage. Blockchain-enabled smart tanks help homeowners to get rid of this problem. 

Smart tanks automatically help switch the pump on, thereby filling it with water. When the water levels fall below a particular point and the tank has been filled, it powers the pump off automatically, thereby preventing overflowing. Apart from that, smart tanks autonomously evaluate water purity before the tank is filled. 

Also Read: Role of Smart Contracts for the Ticketing Industry

Once in a while, the water quality is monitored for compliance with rules of predefined requirements, and if the quality comes out to be clean, it transmits the message to the grid. On the other hand, if the water quality result comes out to be polluted, the homeowner might clean it with a proper water cleaning system and then transmit the message for another test, hence helping homeowners maintain their water quality in supplies. 

Blockchain-powered smart tanks also store data collected from numerous sensors on a blockchain. This prevents fraud in bills and forgery while buying water from tanks. It is a system that also has micro-transactions done on-chain with the help of smart contracts, thereby ensuring instant billing. Though not directly associated with smart homes, the solutions mentioned above can be described as related. 

Blockchain Helping Homeowners Feel Safe at Home

Blockchain rationalizes operations and improves security in smart homes. Blockchain technology helps power up transactions within a sharing economy and gives rise to a secure and safe environment concerning remote control over connected devices. The technology of blockchain helps prevent data breaches and hacks to make sure that the daily lives of homeowners are more convenient. 

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