The patented blockchain architecture within CityEdge validates water usage data from the moment that it leaves the meter’s sensors to the moment it reaches the customer, the company claims.
Olea Edge Analytics, an intelligent edge computing platform for the water utility industry, has unveiled a product intended to help recoup revenues associated with broken or malfunctioning commercial water meters.
Olea Edge Analytics says its history with numerous utilities shows that up to 40 per cent of all high-volume commercial water meters can be underbilled and need repair. And under normal conditions, it reports, commercial water meters can lose their accuracy by more than 10 per cent per year.
According to Olea, its CityEdge platform can notify customers of water infrastructure issues more quickly than current crews can find them, allowing utilities to fix them fast and recover lost revenue. The platform comprises a combination of blockchain technology, artificial intelligence (AI) and machine learning.
The patented blockchain architecture within CityEdge validates water usage data from the moment that it leaves the meter’s sensors to the moment it reaches the customer, the company claims. The encrypted data in the blockchain ledger is also distributed across every device in the network, making it more secure and traceable than ever before.
“People are surprised to learn that they can make these simple repairs and turn that money into a catalyst for much-needed projects”
The platform also creates a digital twin – a virtual replica of a physical product or system – of every meter on the network. A full suite of sensors monitors and provides advanced analytics for each component in the system.
“People are surprised to learn that they can make these simple repairs and turn that money into a catalyst for much-needed projects,” said Dave Mackie, CEO of Olea Edge Analytics.
“Everyone is looking for an edge in funding, especially during these economic times. This platform gives them that.”
Olea said its technology empowers utilities to optimise water delivery, billing and conservation generating millions more in revenue in the process. Committed to helping water utilities combat aging infrastructure, meet greater demand and limit rate increases, its patented solution combines IoT and edge computing capabilities to bring transparency, accuracy, and reliability to water delivery.
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