An Energy Trade Framework Using Smart Contracts: Overview and Challenges
Moayad Aloqaily, Azzedine Boukerche, Ouns Bouachir, Fariea Khalid, Sobia Jangsher
Abstract
The increasing demand for clean, sustainable and reliable energy sources that are secure and stable requires the integration of renewable and edge energy products with the existing power grid. With the introduction of technological advancements and distributed resources, energy users (aka prosumers) can now generate, store and manage their energy requirements, and share their resources with others. BC is a promising technology that can provide secure and verifiable transactions for P2P energy trading, and promote energy conservation. This article recognizes the best practices for sustainable energy, and highlights the benefits of BC and smart contracts in the energy sector. A distributed trading framework and smart contracts are proposed for future versions of BC and integration with other energy products, and potential solutions are suggested.