Potentials of Blockchain 2.0 in the energy industry

Evaluation of an application for a local energy market based on Smart Contracts

Abstract

Blockchain technology, in conjunction with smart contracts, permits the automatic processing of peer-to-peer transactions without a central instance (intermediary). For the German energy industry, there is disruptive potential due to the energy turnaround and ongoing digitalisation. By using block-chain technologies, market processes can be decentralised and market efficiency can be increased by securely integrating the various actors and roles. In order to demonstrate the potential for the energy industry, a decentralised application based on the Ethereum Blockchain (DApp) will be evaluated with regard to different fields of action for a local energy market. It can thus be shown that block-chain technology permits the disintermediation of established market players and thus generates impulses for sustainable structural change in the energy industry. Possible addressees of the findings are research institutions, consulting firms and decision-makers in business practice.