A Blockchain Application in Energy

Taneli Hukkinen, Juri Mattila, Juuso Ilomäki, Timo Seppälä

Research output: Working paperProfessional

Abstract

This report documents a blockchain application developed for the energy sector that enables distributed market coordination for decentralized energy systems. As its core element, it utilizes Ethereum-based smart contracts to facilitate market matching between individual producers and consumers of electricity. The motive for this application was to understand the process of developing blockchain applications with industrial partners. Moreover, the purpose of this exercise was to examine whether Ethereum-based smart contracts could be effectively utilized for similar applications in industry and society at large. The application and the discussions during its development indicate that similar horizontal market structures may spring up in value chains in which the dynamicity of the market is growing and in which the roles of the market actors are shifting from fixed roles towards switch-role markets.
Original languageEnglish
PublisherETLA - The Research Institute of the Finnish Economy
Pages1-22
Number of pages22
Publication statusPublished - 2017
MoE publication typeD4 Published development or research report or study

Publication series

NameEtla Reports
PublisherThe Research Institute of the Finnish Economy
No.71
ISSN (Print)2323-2447
ISSN (Electronic)2323-2455

Keywords

  • blockchain
  • Energy
  • application software
  • platforms
  • marketplace

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