Blockchain for Energy Systems: Bridging Top-down and Bottom-up Management of the Electricity Grid

<div>Point-of-view article. <br>Abstract: For more than a century, the grid has operated in a centralized top-down fashion. However, as the penetration</div><div>of the distributed energy resources (DERs) grows, the grid edge is increasingly infused with intelligent</div><div>computing and communication capabilities. Thus, the bottom-up approach to grid operations inclined</div><div>toward decentralization of energy systems will likely gain momentum alongside the existing centralized</div><div>paradigm. In this point of view article, we aim to highlight the need for and outline a credible path toward</div><div>restructuring the current operational architecture of the electricity grid in view of the ongoing decentralization</div><div>trends with an emphasis on peer-to-peer energy trading. We further suggest that blockchain is an</div><div>effective technology for facilitating the synergistic operations of top-down and bottom-up approaches to</div><div>grid management.</div>