Opportunities and threats of blockchain technology in the power industry: An overview

Abstract

Energy suppliers, entrepreneurs, technological developers, financial organizations, national governments, and academics are interested in blockchains or distributed ledgers. Many of these sources believe blockchains may provide considerable advantages and innovation. Smart contracts and blockchains offer transparent, tamper-proof, and secure platforms that may allow new business solutions. This article covers core blockchain topics including system designs and distributed consensus techniques. From peer-to-peer (P2P) energy trading and Internet of Things (IoT) applications to decentralized markets, electric car charging, and e-mobility, opportunities, problems, and constraints are examined.