Blockchain Applications in Facilitating Secure and Efficient Energy Transactions

In modern power systems, we are directing towards green energy and carbon-neutral emission targets. One of the solutions to this issue is the integration of renewable with the existing power system. Blockchain plays a vital role in secure and efficient energy transactions and grid management. Today, several technologies or trading platforms are available that provide affordable, clean, and reliable energy and help implement automatic real-time monitoring and billing. From these the overall operating cost is reduced and makes our system capable to manage outages and demands more efficiently. Among them, one of the most trusted technologies is Blockchain Technology, which offers a trustworthy environment for the participants to communicate with each other securely. This paper summarises several blockchain technology applications in power system operations. The motive is to provide in-depth knowledge of energy transaction management, automated metering and billing systems, and security enhancement.