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Blockchain Technology for Smart Grids: Implementation, Management and Security
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Smart grids with distributed clean energy generation, storage and prosumers are the future of energy systems. They need two-way digital communication between multiple customers and suppliers of energy, to produce, buy and sell electricity to the grid at small scales. These arrangements need a system that maintains, checks and registers information about transactions.
Blockchain technology is able to handle this with smart contracts, peer-to-peer energy trading and immutable transactions. A blockchain is a digital ledger of transactions that can be accessed across the entire network of computer systems. Combined with sensors to track energy flows, Blockchain can enable the smart grid.
Written by an international team with the necessary multi-disciplinarity, this work covers the use of blockchain technology for smart grids. It introduces Blockchain and the Internet of Things, their application to smart grids, sensors, security and privacy, AI and machine learning, and use of cryptocurrencies for transactions.
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