Using Blockchain Technology in Smart Grids and an Example Application

Today's power systems have been established in accordance with the design principles of Tesla, which was developed in the 1880s, and have evolved over time to become present. Despite the rapid development of communication technology, the development of power systems has not been able to keep up with this. Because the structure of the power system used has generally been far behind and has not been able to respond to the needs of the 21st century. With the rapid development of today's technology, it has become possible to make better the electricity grid by utilizing computer and network technologies in electrical networks. In this way, electricity networks will provide two-way information and electricity flow to provide consumers with sustainable, safe and uninterrupted energy. Networks that can do this are called smart grids. Blockchain; It is an operating system that creates precise and accurate records using mathematical functions and defines transactions in a decentralized infrastructure through distributed computer systems. Thanks to this system, there is no need for control, approval and reconciliation process by a central authority. Blockchain provides independent verification of all kinds of information to protect business processes from fraudulent and unbreakable features. Because this structure offers a digital recording notebook technology that everyone in the process can watch but never change. The use of Blockchain technology in smart grids is very important for the modernization of the network. Because of a possible downtime, the failure monitoring process can be faster and safer with Blockchain. By communicating more quickly between smart grid elements, companies can be informed more quickly in case of breakdown or downtime. It can give advice which devices are needed to convert the system back to normal, the repair process can be faster and quicker. In this study, the usability of Blockchain technology in smart grids is investigated and detailed.