An energy trade framework using smart contracts: Overview and challenges

Document Type

Article

Source of Publication

IEEE Network

Publication Date

7-1-2020

Abstract

© 1986-2012 IEEE. The increasing demand for clean, sustainable and reliable energy sources that are secure and stable requires the integration of renewable and edge energy products with the existing power grid. With the introduction of technological advancements and distributed resources, energy users (aka prosumers) can now generate, store and manage their energy requirements, and share their resources with others. BC is a promising technology that can provide secure and verifiable transactions for P2P energy trading, and promote energy conservation. This article recognizes the best practices for sustainable energy, and highlights the benefits of BC and smart contracts in the energy sector. A distributed trading framework and smart contracts are proposed for future versions of BC and integration with other energy products, and potential solutions are suggested.

ISSN

0890-8044

Publisher

Institute of Electrical and Electronics Engineers Inc.

Volume

34

Issue

4

First Page

119

Last Page

125

Disciplines

Business

Keywords

Electric power transmission networks, Energy conservation, Best practices, Distributed resources, Energy products, Energy requirements, Energy trading, Reliable energy, Sustainable energy, Technological advancement, Commerce

Scopus ID

85084199104

Indexed in Scopus

yes

Open Access

no

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