No amount of private keys and digital block chain security is going to provide physical security
Under those conditions it's always possible to divert power to 'adjust' the perceived power usage.
My point was that block chain doesn't validate anything - a private key will prove that the data (good or bad) is from the specific user, block chain won't validate that its good.
This is only true for corrupted miners. That is not an issue in this case because the company controls 100% of miners (and therefore, you are trusting them not to write bad data).
It is completely irrelevant to the question of corrupted clients, which no blockchain can guarantee against. All you have to do is attach some bypassing wires to the input and output of your "blockchain-enabled smart meter" to write completely fraudulent entries to the history that can never be fixed.
> (and it's a very expensive and wasteful way to do so)
No it isn't. You're confusing blockchain (the algorithm) with Proof-of-Work (a method for providing decentralized consensus).
> Blockchain does nothing to verify the correctness of the data it holds, only its consistency with the history.
Correct. Nor does any other data structure. Blockchain is literally just a data structure, nothing more.
the original comment was about selling mislabeled energy.
Not sure what attack you have in mind.
That's the fallacy of DRM. There's no real way to keep data from a user.
This isn't just a problem with software engineers, but most engineering disciplines. It's impractical to transport logs hundreds of miles for processing, until we create a system that can do it efficiently. It's impractical to keep detailed records of billions of transactions, until we set up a database and reporting infrastructure that can handle that load.
This is your model for securing electric meters?