Hassan Mohajer
Karaj Azad University, Iran
Title: Exploring the use of the blockchain system in smart grids to remove intermediaries and create a secure payment environment
Biography
Biography: Hassan Mohajer
Abstract
Blockchain turns both currencies and commodities into a digital form without relying on middleman which allows one person to trade with another include trading renewable energy. Blockchain technology as a secure and low-cost platform to track the billions of eventual transactions in a distributed energy economy has attracted the attention of experts in various fields of science. The environmental impact of energy generation has been extensively scrutinized to identify new technologies that rely more on renewable sources and less on fossil fuel resources. there are common security and privacy challenges caused by untrusted and nontransparent energy markets also Integrating intermittent power generated from wind or solar plants into the power distribution network is a challenge. the world has been putting more effort into tightening banking and financial activities with stricter regulations. However, the effectiveness of this policy has remained controversial as many people believe that policymakers should promote freedom and transparency by empowering the public to directly interfere and change the system for the public interest. Using blockchain technology, a method has been developed to get rid of intermediaries and create a secure payment method to eliminate existing delays and increase the utilization of smart grids. It is understood that blockchain technology will be a promising approach to ensure traceable and secure transactions. However, blockchain necessitates elastic computing resources, big data management and a professional environment to develop the applications under consideration. Numerical and Security Analysis of This paper has shown that the use of blockchain technology has improved the performance of energy networks and created a secure space for payments.