A blockchain based data management system for energy trade

Abstract

A new type of energy trade called the distributed energy resource has emerged in recent years, which can bring several benefits to people. However, trust issue also appeared among governments, users and energy companies. To solve the problem, smart contract and Ethereum are used to develop a system for distributed energy trade. A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Ethereum is one of the decentralized platforms that run smart contracts. With the usage of smart contract and Ethereum, the system is reliable and it avoids the risk of using centralized energy management system. Therefore, the purpose of this project is to develop a blockchain based data management IoT system for energy chain transaction by Ethereum and test the smart contract by communicating sequential process (CSP) which is a formal language for describing patterns of interaction in concurrent systems.