Blockchain and machine learning applications for smart grid

Abstract

With the rise of shifting from a centralised to a decentralised operation and eliminating intermediation by a third party, peer-to-peer has received much popularity in the energy industry. Peer-to-peer (P2P) allows buyers and sellers to transact directly with each other on a P2P network which reduces operational costs compared to a traditional market. In a traditional energy market, buyers and sellers must buy or sell through an intermediary at a fixed price. Hence restricts the buyers and sellers from buying or selling at the desired price. This project aims to create a double auction energy market with peer-to-peer service on a blockchain. Firstly, double auction market functions were programmed onto smart contracts. Secondly, a private blockchain was created to deploy the smart contract. Finally, a front-end web page was built and integrated with the smart contract to simulate an actual double auction marketplace.