Date & Time:
Sunday, October 7, 16:15 – 18:15
3F R04 (Zuiyo)
Loi Lei Lai, Zhao Yang Dong, Chun Sing Lai
Blockchain turns both currencies and commodities into a digital form, which allows trading without relying on a third party such as a power company to process the transactions. Blockchain and cryptocurrency really makes the concept of peer-to-peer trading, where energy is exchanged and traded locally between consumers and prosumers possible. The decentralized structure of the blockchain is particularly suitable for implementing control and business processes in smart grid, using smart contracts and decentralized application approaches.
A state of the art survey overview of current blockchain technology based smart grid projects will be presented. This will provide the potential to revolutionize smart grids and a first attempt to characterize different start-up directions. The increasingly complexity and interaction among different energy entities in a power system require a secure, efficient and robust cyber infrastructure. Blockchain provides a secure environment to support such interactions. The ability to support distributed renewables such as PV is a global possibility.
The prospective and challenges of using Blockchain as a secure, decentralised cyber infrastructure for smart grid will also be discussed. There will be a 15-minute slot allocated for floor discussion between organizers, speakers and delegates.