Distributed database on blockchain technology for new era of electricity transactions

Abstract

The electricity retailers or suppliers promote business models focused on consumers-centred services except few of them. The reader could even doubt their interest in offering the most appropriate tariffs since lower tariffs imply lower revenue and consequently lower profit. No one-fit-for-all service can actively engage the electricity consumers. Most of the electricity consumers do not understand their consumption behaviour because they do not know it, they do not have real access to the consumption data. The current web portals do not share the consumption data with third parties, thus there is no market solutions. In this paper, we propose a distributed database architecture on blockchain technology for electricity transactions that innovate and increase the market competition in the era of digitalization enhancing the consumers awareness and transparent transitions.