Technological Aspect Project

Term II

“Block chain in Energy sector”

Our Project study focuses on the new trending technology of block chain in
the existing conventional operational methodology of Energy Sector. This Study
deals with the need, disruption and future advantages of Block Chain in the Energy
Sector. The methodology for the project would be study and analysis of Block Chain
by acquiring information from available open sources.

Abstract
The fundamental basis of blockchain technology is to disrupt the traditional
business process by providing a viable decentralized alternative to the mainstream
centralized system. A blockchain is a decentralized, distributed network architecture
in which a public ledger of all transactions within the network is shared among all
the participating nodes of the network. The result is the elimination of a central
server with the authorization and authentication of transactions being carried out by
the entire network. This gives rise to faster transactions at greatly reduced costs since
there are no fees to be paid to third-party intermediaries.
The blockchain is the first successful implementation of the Distributed
Ledger Technology (DLT) framework. Blockchains have already found great
application use-cases in banking, payment processing, music licensing, and online
gaming just to mention a few. In recent times, there has been a lot of interest in
applying blockchain technology to the energy sector.
 Moreover in the Energy Sector, blockchain also allows you to carry out
intelligent contracts known as “smart contracts”. The content, rules and regulations
are defined in protocols which are “coded”, so are changed into programming code.
The carrying out and conduct of payments, collection of data and the verification of
the transactions will be carried out automatically which gives us an amount of
transparency which we have never had before. This contracts allow different kind of
business models to be illustrated in one blockchain.
This new emerging new digitalisation method in a decentral energy market
offers high potential to develop new innovative business models. The diversification
of the different kinds of market participants is a continuous process which opens the
door to smaller, autonomous market players and services to have an influence in the
market. Different uses of the blockchain technology in the area of business
transactions and contracts in Energy Sector are as follows:
• Solutions for e-mobility (charging and car sharing)
• The buying and selling of electricity from your own systems
• Stopping the delivery of electricity
• Battery management, building a pool of saved electricity and supporting
community energy models.
• Connecting energy buyers with operators of renewable energy systems
There are further possibilities to use the blockchain in the areas of documentation
and compliance:
• A register about the ownership structures and what condition the buildings or
plants are in.
• Verification and proof that green electricity or C02 certificates are not fake.
• The automated reading of smart meters.
Group Members

Vishwa Bhatt (20181013)

Vatsal Deladia (20181017)
Dhaval Deshpande (20181018)
Yash Gandhi (20181019)
Maulik Barad (20181026)
Siddharth Trivedi (20181050)