The P2P energy trading is the recent trend the power society is keen to adopt carrying out several trial projects as it eases to generate and share the renewable energy sources in a distributed manner inside the local community. Blockchain and smart contracts are the up-and-coming phenomena in the scene of the information technology used to be considered as the cutting-edge topics in power systems.
According to Global Market Insight Inc, Blockchain in energy market size is predicted to hike from USD 200 million in 2018 to more than USD 3 billion by 2025
The smart grid revolution leads to change the power distribution architecture with its two-way power flow capacity. The number of prosumers, such as DERs that support the system, is also increased alongside smart grids. With those developments, the aggregators gain a critical role in the organization of power distribution systems. Thus, it is necessary to change the general control mechanisms to minimize distribution costs while increasing the number of participants. We offer a blockchain network to keep the privacy and trustworthiness, at the same time, maximize the overall benefit of the entire hierarchy. Instead of fully replacing the traditional architecture at all, we target to employ a new virtual environment that can efficiently adapt to the current practice.
We offer blockchain-based solutions and application developments, especially in power systems.