IEEE Approved Draft Guide for Blockchain in Power and Energy Systems

Blockchain / Distributed Ledger Technology, referred to as Blockchain/DLT, is a proven technology in industry and, though newer to applications in the energy industry, is well-positioned to become a critical component of this evolving electrical system. Blockchain/DLT can provide transparency and traceability within energy markets and distributed system operations, reduce error and processing inefficiencies between the multiple parties engaged in interconnected grid management, and offer a path to automation of the grid through the use of smart contracts. This guide provides an open, common, and interoperable reference framework model for distributed ledger technology (DLT) such as blockchain in the energy sector. This Guide also serves as a guideline for Blockchain DLT use cases in the electrical power industry, creating a guide for a reference architecture framework, including interoperability, terminology, functionality, and system interfaces for blockchain DLT applications in the energy sector.