BLOCKCHAIN APPLICATIONS IN ENERGY MARKET

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Blockchain technology is one of the most notable technologies that has been introduced in recent years and its applications have been widely studied. This technology is known for cryptocurrencies and digital currencies, but it also has a wide range of other applications, including the ability to store information on decentralized servers that cannot be hacked or modified. In the field of digital currencies, blockchain has many applications by eliminating intermediaries and significantly reducing financial transaction fees.
The capabilities of this new technology can be used in various fields; The field of energy is one of the branches that can have benefited from using blockchain. Today in many countries, the power supply system is transitioning from vertical mode (generation in large power plants, energy transmission, and consumption) to market mode. So, it needs to use a payment system that can handle exchanges without volume limitation and instantaneous.
In this technical report, we will review the activities that have been done using blockchain technology in the energy field. The purpose is to examine the business models of companies and companies’ goals in using this technology in the energy field.

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