Standardization Efforts for Blockchain in Energy Domain and Power Grid Applications

Abstract

Blockchain is becoming one of the most promising emerging technologies in energy and power grid applications. Indeed, Blockchains have already been applied to these domains to provide transparent and secure energy transactions between multiple parties without the involvement of intermediaries. However, standardization guidelines and roadmaps for the application of Blockchains to power grids and energy domains are urgently required. Standardization is one of the most important factors for the success of an emerging technology and requires the support of multiple groups including industry, academia, governments, and other interest communities to boost its sustainable development, interoperability, and ease of use. Several international standards organizations (IEEE, ISO, and ITU-T) have led the Blockchain technology and application standards development in recent years. This paper provides a comprehensive review of applications of Blockchains to the energy and power grid domains, and the standard development activities by the IEEE Standards Association (SA). In addition, up-to-date industrial reflections are presented on the Energy Blockchain landscape collected via dedicated online surveys and meetings with industrial and academic experts.