The Integration of Blockchain Technology and Smart Grid: Framework and Application

Abstract

Based on the diffusion of blockchain technology in the smart grid, this paper studies the framework and application of the blockchain technology in the smart grid, so as to combine the blockchain with the smart grid and establish a sustainable supply chain. However, the establishment of a sustainable supply chain is based on a layered theoretical framework. Not only should the framework take into account needless attributes and the relationship among various criteria and aspects but the application should also involve a balance of multiple stakeholders. For the above reasons, this paper uses a combination of Fuzzy-DEMATEL and ISM. The results show that (1) the hierarchical path of sustainable supply chain management of the smart grid under the blockchain starts from the social level, pays attention to system construction, grasps the technical standards, and defines the development goals of the power grid. (2) The development of green energy has become a new market growth point. (3) The control of the operation level becomes the focus of the smart grid. (4) The optimization and development of the economic structure are restricted by social factors. By integrating and optimizing the blockchain and supply chain, this paper puts forward a theoretical framework, establishes a sustainable GIP application system with multistakeholder participation at the supply chain level, and indicates the significance of the blockchain in the smart grid.