Research Article

The Integration of Blockchain Technology and Smart Grid: Framework and Application

Table 1

Aspects and criteria.

AspectsCriteriaExplanation

EconomicC1 Public infrastructure utilization efficiencyUses blockchain technology to realize the sharing of public infrastructure facilities, cross-network cooperation, and scattered transactions and improve the sharing efficiency
C2 Production cost managementUses blockchain technology to analyze production information to achieve the optimal production and generation efficiency
C3 Administration cost managementReduces labor cost through automatic data upload, traceability system, and smart contract
C4 Transaction cost managementDistributed ledger and smart contract reduce transaction cost
C5 Financial cost managementElectronic bill management, auditing, and tax supervision
SocietyC6 SecurityBuilds a secure database to ensure anonymity and privacy
C7 AuthenticityEstablishes an open, transparent, authentic, and reliable traceability system
C8 TimelinessImproves efficiency through the smart contract and blockchain traceability system
C9 Credit evaluation systemCredit evaluation through the integration of information on the blockchain
C10 Incentive and punishment systemPolicy subsidies and illegal punishment for the behavior of blockchain participants
C11 Power grid optimizationMicrogrid regional power supply, optimal power supply, and attract more power suppliers
C12 Demand-side managementEncourages users to upload demand information to cope with peak hours of power consumption and match energy production with demand
EnvironmentC13 Low carbon emissionCarbon emission trading on the chain promotes enterprises to reduce carbon emissions through technological progress
C14 Green energyReplaces nonrenewable energy with green energy