Subject at Copehagen Business School
Grade: 10 (B)
With professors: Somnath Mazumdar, Raghava Rao Mukkamala
Overall, this report serves as a conceptual illustration of how blockchain technology can be leveraged to allow bookkeeping of complex transactions and operational data in the framework of exchanging electricity from renewable energy sources. It empowers the transaction of exchanging electricity generated locally among different participants, which is at the core of getting

Subject at Copehagen Business School
Grade: 10 (B)
With professors: Somnath Mazumdar, Raghava Rao Mukkamala
Overall, this report serves as a conceptual illustration of how blockchain technology can be leveraged to allow bookkeeping of complex transactions and operational data in the framework of exchanging electricity from renewable energy sources. It empowers the transaction of exchanging electricity generated locally among different participants, which is at the core of getting prosumers to transact in a feasible market. The efficiency of using blockchain applications such as smart contracts emphasizes reliability and sustainability. The architecture proposed in this report builds on the network Hyperledger Fabric (HLF). The selection of HLF shows its strengths through being a permission blockchain with possibility for governmental regulation. Furthermore, HLF has attributes, such as dividing the ledger into two and flexibility in mechanisms and rules, that makes it fit well to the use case, trading power in a decentralized manner, but still regulated. Lastly, the selection of consensus mechanism is crucial for this system to be deployed. Through the proof of authority mechanism, privacy concerns can be met and governments can remain in control of the infrastructure.