A Blockchain Application in Energy

Hukkinen TaneliMattila JuriIlomäki JuusoSeppälä Timo

Abstract
This report documents a blockchain application developed for the energy sector that enables distributed market coordination for decentralized energy systems. As its core element, it utilizes Ethereum-based smart contracts to facilitate market matching between individual producers and consumers of electricity. The motive for this application was to understand the process of developing blockchain applications with industrial partners. Moreover, the purpose of this exercise was to examine whether Ethereum-based smart contracts could be effectively utilized for similar applications in industry and society at large. The application and the discussions during its development indicate that similar horizontal market structures may spring up in value chains in which the dynamicity of the market is growing and in which the roles of the market actors are shifting from fixed roles towards switch-role markets.

Publication info

Part of researches
Blockchains Boosting Finnish industry (BOND)
Work and Wealth in the Era of Digital Platforms
Part of programs
Series
ETLA Raportit - Reports 71
Date
03.05.2017
Keywords
Blockchain, application, distributed marketplace, energy industry, Ethereum, smart contract
ISSN
2323-2447, 2323-2455 (Pdf)
Jel
L1, L17, L52, L73, L94
Pages
22
Price
15 €
Availability
Available
Language
English