What are Smart Meters?
As 10XTS works to reshapes finance, supply chains, and digital infrastructure through Asset Tokenization 2.0, Smart Meters stand out as a fundamental technology for secure, efficient management of tokenized real-world assets.
The Conduit Network leverages these specialized tools to bridge the gap between blockchain logic and the real world, enabling accurate tracking, billing, and proof generation tailored to a broad spectrum of tokenized assets—from real estate and commodities to intellectual property and financial instruments.
Core Functions of Smart Meters
Smart Meters provide a suite of core functions that drive efficient, secure, and accurate management of tokenized assets.
Predicate Proof Generation
Smart Meters generate Predicate Proofs—cryptographic evidence that records significant events related to tokenized assets. These proofs verify key actions, such as asset transfers, changes in ownership, usage patterns, and valuation updates. Depending on the privacy and access requirements of the recipient, Predicate Proofs can either be zero-knowledge proofs (concealing sensitive data) or fully transparent information for public auditability.
Through Predicate Proofs, Smart Meters provide a trusted, tamper-proof way to confirm asset-related events. These proofs serve as an immutable record, allowing for reliable asset tracking and accountability across all Conduit Network participants.
Automated Billing and Settlement
Billing is one of the most challenging aspects of managing tokenized assets, and Smart Meters address this with precision. By capturing granular data on asset use, sales, or transfers, Smart Meters supply accurate billing information to Security Modules, which calculate charges and manage settlement. This end-to-end automation brings transparency, consistency, and efficiency to the billing process.
Whether an asset is being temporarily accessed, transferred to a new owner, or rented for a specified period, Smart Meters ensure that usage is tracked down to the smallest detail, enabling fair billing based on actual usage.
Smart Meter Deployment: Ensuring the Highest Levels of Security and Trust
In the Conduit Network, security is paramount. Smart Meters are deployed within the highest trust ring of the operating system, ensuring that they operate within the most secure environment possible. This advanced deployment structure allows Smart Meters to provide accurate and trustworthy monitoring without risking interference, manipulation, or data corruption.
By operating in a high-trust environment, Smart Meters can monitor tokenized assets continuously, providing a reliable, unbroken chain of data that stakeholders can depend on. This level of trust is especially important for high-value assets, where integrity and security are non-negotiable.
Comprehensive Event Detection and Measurement for Tokenized Assets
One of the standout features of Smart Meters is their advanced event detection and measurement capabilities. Smart Meters can track a diverse array of events tied to tokenized assets, triggering actions based on predefined conditions and allowing for unparalleled control and accountability.
Types of Events Monitored by Smart Meters
Calendar Events: Track time-based events, such as maturity dates, dividend distribution schedules, and contractual deadlines. Calendar events are particularly useful for financial instruments and income-generating assets, where time-sensitive payments are critical.
Duration Events: Monitor elapsed time for asset usage, making it possible to track rental periods, lease durations, or temporary asset access windows. This is essential for assets like equipment rentals, temporary access rights, and time-based services.
Message Events: Smart Meters respond to API calls or messages related to asset transfers, ownership updates, or configuration changes. This functionality enables real-time, event-driven management of assets, ensuring that changes are recorded accurately and promptly.
Polling Events: For assets requiring continuous status checks, such as inventory levels or asset health, Smart Meters conduct regular polling. This ensures stakeholders always have up-to-date information, reducing the risk of unexpected discrepancies or delays in reporting.
Signal Events: These events are triggered by specific API calls tailored to a particular Smart Meter type, allowing for targeted asset management actions, such as initiating or halting access or flagging issues for immediate resolution.
Predicate Language and Proof Generation: Structured Rules for Tracking and Transparency
The Conduit Network’s Smart Meters utilize a predicate language to define significant asset events and generate Predicate Proofs. This structured language enables Smart Meters to track and record complex conditions and measurements associated with tokenized assets, providing a high level of detail and precision.
Examples of Predicate-Driven Functions
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Ownership Transfer Tracking: When a tokenized asset is transferred, Smart Meters generate proofs documenting the change, enabling precise ownership records.
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Real-Time Value Monitoring: Smart Meters track asset valuation changes and update proofs accordingly, allowing stakeholders to access up-to-date information on asset worth.
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Periodic Reporting: Routine asset status reports can be generated, helping stakeholders monitor health, usage, and performance metrics at regular intervals.
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Heartbeat Creation: A “heartbeat” function confirms the asset’s ongoing operational status. This heartbeat proof can be sent to the network regularly to confirm that the asset is functional and no significant events have gone unreported.
Predicate Proofs provide reliable, tamper-proof records of asset events. Whether used for internal audits or shared publicly, these proofs ensure transparency and accountability across the Conduit Network.
Tailored Functionality for Diverse Asset Classes
Smart Meters are not one-size-fits-all solutions; instead, they’re tailored to support a wide range of tokenized assets. This flexibility allows them to meet the unique needs of various asset classes, enabling the Conduit Network to support complex, asset-specific requirements.
Examples of Asset Classes Supported by Smart Meters:
- Real Estate and Property Tokens: Track and manage property ownership, rental income, and maintenance costs.
- Commodity-Backed Tokens: Monitor the status of physical commodities, such as gold, oil, or other valuable resources.
- Equipment and Inventory Tokens: Track usage, availability, and depreciation of equipment and inventory items.
- Financial Instruments: Manage ownership, dividend payments, maturity dates, and valuation changes for stocks, bonds, and derivatives.
- Intellectual Property Tokens: Monitor royalties, licensing durations, and usage rights for digital and intellectual property assets.
Trust Levels and Auditing: Ensuring Security and Compliance
To maintain integrity across the network, Smart Meters undergo rigorous auditing and certification for various Trust Levels. This certification ensures that only Smart Meters with the necessary security measures are deployed for high-value or sensitive assets.
Asset owners can select from different Trust Levels, ranging from Standard Trust for lower-value assets to Enhanced Trust and High Trust for critical assets. The higher the trust level, the more rigorous the auditing process, ensuring that sensitive asset data is protected and managed with the highest level of integrity.
Real-Time Access Control and Billing
Access control is a core functionality of Smart Meters within the Conduit Network. Every access request to a tokenized asset must go through the Smart Meter, which manages permissions, billing, and duration settings, ensuring that access is granted in a controlled and accountable manner.
Key Access Control Capabilities:
Conditional Approval: Smart Meters check pre-set conditions before granting asset access, ensuring that only authorized parties can interact with the asset.
Session-Based Access: Access can be granted for specific sessions or durations, ideal for time-limited leases or rentals.
Real-Time Billing: Billing calculations are performed in near-real-time, providing accurate charges for asset usage as soon as access is granted.
These access control features ensure that tokenized assets are managed in a secure, accountable, and fully auditable manner.
Asset owners can select from different Trust Levels, ranging from Standard Trust for lower-value assets to Enhanced Trust and High Trust for critical assets. The higher the trust level, the more rigorous the auditing process, ensuring that sensitive asset data is protected and managed with the highest level of integrity.
Heartbeat Functionality for Continuous Monitoring
In addition to tracking specific events, Smart Meters publish regular heartbeat messages to their Message Queue, indicating normal operational status. This heartbeat feature ensures that the system remains vigilant, even in the absence of significant events. Should an asset go offline or experience issues, the network can quickly detect the disruption, ensuring continuous monitoring and reliable asset management.
Adaptive Schema and Taxonomy for New Asset Classes
As new asset classes and tokenization needs emerge, Smart Meter creators can define enhancements to the global schema and taxonomy, allowing for the seamless integration of new measurement requirements and asset types into the Conduit Network.
By supporting adaptive schema and taxonomy, the Conduit Network ensures that Smart Meters remain flexible, relevant, and ready to support the evolving landscape of asset tokenization.
Smart Meters: A Cornerstone of Asset Tokenization 2.0
In Asset Tokenization 2.0, Smart Meters are indispensable. By combining advanced event detection, billing automation, and cryptographic proof generation, they provide a powerful, secure, and adaptable solution for managing tokenized assets of all types.
As tokenization continues to reshape industries and asset classes, Smart Meters will be at the forefront, driving accountability, transparency, and efficiency in asset management across the decentralized digital economy.