Integration of Distributed Ledger Technology and Modern Smart Grids: An Outlook

Abstract

Today, the evolution of electrical grid systems is pacing towards interconnected Smart Grids mainly driven by governmental activities worldwide. This step brings additional challenges from the data storage perspective since conventional centralized systems may not handle the growing data volumes arriving from various sources. Thus, new distributed solutions must be introduced to allow flexible and on-the-fly enablers to such tremendous data flows. One of the potential candidates is integrating Blockchain-powered Distributed Ledger Technology (DLT) to achieve an immutable record of manipulating electricity from production to end-user delivery. In this paper, we study the relation of said diverse technological components inter-operation, related challenges, and solutions proposed by research and federal regulators. Based on the literature review, we draft the recommendation for the wide-scale architecture of the future combined solution.