DEVELOPMENT OF A SMART CONTRACT SOLUTION FOR KAZAKHSTAN’S ENERGY SECTOR

Abstract

This article presents the development of a blockchain-based smart contract aimed at addressing key issues in Kazakhstan’s energy sector. The research demonstrates the effectiveness of blockchain technology in automating energy transactions and improving transparency, security, and efficiency in the industry. A smart contract prototype was designed on the Ethereum platform using the Solidity language to automate electricity supply agreements, including energy delivery recording, payment handling, and tariff management. The contract was developed with consideration of local regulatory and infrastructure specifics and incorporates features like role-based access control and automatic enforcement of penalties for overuse. The proposed solution was thoroughly tested for functionality and security. The results show that the smart contract operates reliably under various scenarios and can significantly streamline settlements between energy providers and consumers, reduce operational costs, and increase trust. The scientific novelty of the work lies in adapting smart contract technology to the conditions of Kazakhstan’s energy market. The practical significance is that energy companies and regulators can implement this blockchain solution to enhance efficiency and transparency. The findings provide a foundation for further digitalization of the energy sector, including future integration of renewable energy sources and development of decentralized energy markets. Keywords: blockchain, smart contract, Ethereu, energy sector, energy market.