Smart Grid Implementation with Consortium Blockchain: A Proposed Model for Bangladesh

Abstract

The 21st century has seen a significant increase in worldwide electricity consumption with the invention of new technologies. Meeting the increasing power demand efficiently with the classic grid arrangement has become more challenging. To meet this energy demand, following the worldwide trend of grid modernization, Bangladesh is also looking forward to upgrading their existing grid infrastructure into the smart grid. To ameliorate that process, this paper proposes a model of a consortium blockchain from the perspective of Bangladesh. Unlike the existing grids, the proposed smart grid will be able to ensure user security with the help of state-of-the-art technologies. The proposed system will provide features like easier grid integration of different renewable sources, bidirectional power flow to the grid, and smart energy monitoring. To solve the data vulnerability issues and to defend against denial of services and malware attacks on the smart grid, the proposed grid will store its data in a consortium blockchain, which is one of the most secure technologies and only the grid authority will have full access over their user's data. Furthermore, a secure transaction method has been proposed in this paper, that will ensure the integrity of the transaction between the grid authority and the consumers.