September 21, 2022
Conference Paper

Standardization of Smart Contracts for Energy Markets and Operation


This work presents a formal review of smart contracts, including definitions, technical requirements, and potential power and energy-related use cases. This includes in-depth discussions covering cybersecurity, legality and interoperability goals that must be taken into consideration by potential end-users. The paper presents a first attempt towards the standardization of smart contracts (SCs) within the field of power and energy as a work in progress activity under the IEEE Standards Association (IEEE SA) P2418.5 Working Group. This work also proposes a holistic, language-agnostic reference model that is intended to accelerate the adoption of Distributed Ledger Technology (DLT) by industry stakeholders by providing standardized processes. Finally, the paper discusses key takeaways that must continue to be developed to increase SC usage within the energy industry.

Published: September 21, 2022


Cali U., D.J. Sebastian Cardenas, S. Saha, S. Chandler, S. Gourisetti, T. Hughes, and K. Khan, et al. 2022. Standardization of Smart Contracts for Energy Markets and Operation. In IEEE Power & Energy Society Innovative Smart Grid Technologies Conference (ISGT 2022), April 24-28, 2022, New Orleans, LA, 1-5. Piscataway, New Jersey:IEEE. PNNL-SA-166776. doi:10.1109/ISGT50606.2022.9817542

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