Blockchain for Power Grids

Abstract

Sharing information is an important part of regulating and maintaining efficient and safe power grids. This project's goal is to develop a way of using blockchain technology to share transaction information among different power grids in a secure, controlled, monitored, and efficient manner. The biggest concern regarding the data is integrity. By leveraging blockchain technology, the data will be reliable and resilient to attacks, such as man-in-the-middle and data spoofing attacks. The Hyperledger Fabric implementation provides a permissioned network in which power grids will act as nodes that maintain ledger information. By using a distributed ledger to validate transactions though the process of consensus, the system can share information in a manner that is more secure and transparent than traditional information sharing systems in which data is less secure and takes longer to validate. The additional layers of security and speed that Hyperledger technology provide help to prevent issues, such as power grid failures, that could stem from the latency or integrity issues involved with traditional methods of validating, processing, and reacting to shared data.