Blockchain Technology for Smart Grids: Decentralized NIST Conceptual Model

Adedayo Aderibole,Khaled Salah,Aamna Aljarwan,Toufic Mezher,Ernesto Damiani,Davor Svetinovic,Muhammad Habib Ur Rehman,Hatem H Zeineldin

doi:10.1109/access.2020.2977149

Abstract

Blockchain technology is showing a significant potential to disrupt a number of information technology domains. One of the especially interesting areas for blockchain applications is smart grid. A number of early papers have been published in this area, however, there is no systematic analysis of the impact of blockchain technology on decentralization of smart grids. In this paper, we analyze the standard NIST conceptual model of smart grid domains with respect to the three critical blockchain features: decentralization, trust and incentive. We integrate our findings in order to produce a fully decentralized blockchain-enabled smart grid considering NIST conceptual model. The results of this paper should help smart grid developers and researchers to obtain a conceptual reference of the overall applicability of blockchain technology in smart grid domains and sub-domains. In addition this research will help to identify and guide smart grid blockchain development and research initiatives.

Highlights

Blockchain is appearing to be one of the most disruptive innovations [1] in recent years
These three objectives are critical since while significant research effort and venture capital is getting invested in blockchain research, we have identified a lack of clear direction where this research is going, and we have identified a number of research directions in areas that are less than ideal for application of blockchain technology, i.e., the areas where traditional solutions are more appropriate due to the lack of a need to fully decentralize, or lack of a need for trust, or a lack of design of appropriate incentive mechanisms that will ensure that a blockchain solution is feasible and maintainable in the long term
EVALUATION This section presents the evaluation of existing smart grid architectures in the light of National Institue of Standards and Technology (NIST)’s reference architecture in framework 4.0

Summary

INTRODUCTION

Blockchain is appearing to be one of the most disruptive innovations [1] in recent years. Blockchain solutions need continuous participation of the nodes; this participation is expensive and it is highly unlikely that nodes will continue participating unless there is a clear and long-term incentive to do so, it enables cryptocurrencies and P2P transactions to incentivize the participating nodes and enable non-repudiation on the network These three objectives are critical since while significant research effort and venture capital is getting invested in blockchain research, we have identified a lack of clear direction where this research is going, and we have identified a number of research directions in areas that are less than ideal for application of blockchain technology, i.e., the areas where traditional solutions are more appropriate due to the lack of a need to fully decentralize, or lack of a need for trust, or a lack of design of appropriate incentive mechanisms that will ensure that a blockchain solution is feasible and maintainable in the long term.

BLOCKCHAIN

CYBER SECURITY

EVALUATION

CONCLUSION