Blockchain-based Efficient Energy Trading Scheme for Smart-Grid Systems

"Bidirectional flow of power has opened up numerous
 opportunities for efficient usage of electricity. Vehicle to Grid
 (V2G) support has enabled easy transfer of power from the
 batteries of electric vehicles and then to the consumers itself. In
 order to make this practically applicable, a well designed system
 is needed for peer-to-peer (P2P) exchange of electricity for currency. Since it involves monetary transactions, it is expected to be
 highly secure and auditable by the government. The blockchain
 technology provides a transparent and secure means to achieve
 this. The distributed nature of blockchain provides resiliency to
 the system and also makes it highly available. It also provides a
 means of enabling government audits and immutability of data
 ensures full transparency. Motivated from these facts in this
 paper, we propose an auction model to maximize the utilization
 of power by trading energy for currency based on blockchain.
 It uses geolocation as the prime parameter of visibility between
 the consumers and aggregators of power and aims to create
 an ecosystem of energy transfer. It ensures direct transactions
 between suppliers and consumers of electricity within a specified
 safe range and government permissioned transfer for larger
 transactions."