Creative Approaches Towards Development of Computing and Multidisciplinary IT Solutions for Society

25Peer-to-Peer Electricity Trading: A Business Solution Based on Blockchain for Developing Renewable Energy in Vietnam

Cong-Doan Truong^1*, Ha Duc Minh Chau² and Le Anh Ngoc³

¹International School, Vietnam National University, Hanoi, Vietnam

²PetroVietnam Power Corporation, Hanoi, Vietnam

³Swinburne Vietnam, FPT University, Hanoi, Vietnam

Abstract

This study reviews the current development of peer-to-peer electricity trading technologies. A brief overview of blockchain technology is introduced, and an example of a blockchain-based information system through the illustration of the flows of information and power in an electricity transaction is presented to demonstrate the system’s inherent security and transparency features. Subsequently, an important component of the infrastructure required for the operation of a direct electricity trading market, the smart electricity meter, was examined in detail. The basic block diagram of the meter and its functionalities are introduced to provide the readers with a basic understanding of its advantages over the traditional analog meter. Finally, a recommended pathway for implementing peer-to-peer electricity trading in Vietnam and directions for future studies were proposed.

Keywords: Peer-to-peer, electricity, information system, smart electricity meter, block chain, AI

25.1 Introduction

Traditionally, the electricity industry has been limited to a few participants because of specialized expertise and huge investment costs [1, 2]. For ...