Blockchain-based Power Trading Process
AUTHORS
You-jin Song,Dongguk University at Gyeongju Campus, S.Korea
ABSTRACT
Recently, the paradigm of the power industry has been digitalization with the focus on renewable energy. With this shift toward energy-ICT convergence accelerator, there will also be many changes in effect energy policies. In particular, in terms of energy demand management, there will be regional-centric, self-reliant decentralization, and the activation of distributed energy resources (DERs) including renewable energy will result in the deployment of microgrid-type virtual power plants on a region-wide basis. This paper designs a blockchain-based power transaction process in which individuals (producers) can produce and use power themselves or sell the remaining power to others, rather than transmitting and using the developed power from the existing centralized power.
KEYWORDS
Internet of Things, blockchain, smart contract, power trading
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CITATION
COPYRIGHT
© 2019 Song You-jin. Published by Global Vision Press. This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CCBY4.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.