Multi-utility framework: blockchain exchange platform for sustainable development

Abstract

Purpose The purpose of this paper is to design a sustainable development platform for water and energy peer-to-peer trading that is financially and economically feasible. Water and other resources are becoming scarcer every day, and developing countries are the neediest for an immediate intervention. Water, as a national need, is considered to be one of the most precious commodities, but it is also one of the main causes for conflicts in the 21st century. Rainwater harvesting and peer-to-peer trading of the harvested water is one of the most convenient, scalable and sustainable solutions but faces organization challenges such as the absence of suitable business models motivating normal users to sell their generated resources (such as water and energy), currency and financial settlement complexities and single utility markets. Design/methodology/approach This paper proposes a multi-utility trading platform based on the blockchain technology which can address the challenges faced by peer-to-peer trading for resources such as energy and water. Findings This paper presents a peer-to-peer multi-utility trading platform that solves the shortcomings of existing utility frameworks reported in the current literature. Originality/value This proposed platform meets the needs of developing countries as well as rural areas of developed countries. The open nature of the proposed design makes it suitable for adoption and use by various stakeholders.