Blockchain technology outline and its application to field of power and energy system

Abstract

Blockchains were developed as a technology used for transactions of Bitcoins (cryptocurrency). Blockchains have several features such as decentralized transaction without third parties, tolerance network, prevention of data manipulation, and operational cost reduction. This technology is gaining attention in the world, and by adding extensions, improvements, or new technologies, it is expected to be used not only in cryptocurrency and fintech but also in the power and energy system field. This technical note explains the outline of the blockchain technology and its application to the field of power and energy system.