Powering The Future: A Case Study on the Implementation of Blockchain with Smart Grids for Energy Trading using Powerledger

Traditional smart grids have some features that render them unsuitable for future requirements. There is a need for more efficient power management on the grid, and this is where the concept of smart grids comes in. Smart grids facilitate the generation of energy at a small scale by individuals, which can subsequently be sold back to the grid. However, the process of generating and selling energy can add a lot of complexity. Transactions between consumers and generators need to be verified and recorded. Additionally, smart grids have a decentralized nature compared to the centralized nature of traditional power grids. This decentralized nature makes them a potentially promising application for blockchain technology. Blockchain could provide tools such as smart contracts that ensure the transactions between consumers and generators are verified and processed in a secure way. This paper explores the potential of blockchain in enhancing the energy trading activities in smart grids and presents a case study of Powerledger, a blockchain-based energy trading platform. We conducted a literature review, identified research gaps and limitations in existing blockchain-based energy trading platforms, and analyzed Powerledger to understand how it addresses these gaps and limitations