Blockchain-Based Peer-to-Peer Energy Trading and Charging Payment System for Electric Vehicles

Prince Waqas Khan and Yung-Cheol Byun
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Prince Waqas Khan: Department of Computer Engineering, Jeju National University, Jeju-si 63243, Korea
Yung-Cheol Byun: Department of Computer Engineering, Jeju National University, Jeju-si 63243, Korea

Sustainability, 2021, vol. 13, issue 14, 1-16

Abstract: The world is moving rapidly from carbon-producing vehicles to green transportation systems. Electric vehicles (EV) are a big step towards a friendly mode of transport. With the constant rise in the number of electric vehicles, we need a widespread and seamless charging infrastructure that supports seamless charging and billing. Some users generate electricity using solar panels and charge their electric vehicles. In contrast, some use charging stations, and they pay for vehicle charging. This raises the question of trust and transparency. There are many countries where laws are not strictly enforced to prevent fraud in payment systems. One of the preeminent problems presently existing with any of the trading systems is the lack of transparency. The service provider can overcharge the customer. Blockchain is a modern-day solution that mitigates trust and privacy issues. We have proposed a peer-to-peer energy trading and charging payment system for electric vehicles based on blockchain technology. Users who have excess electricity which they can sell to the charging stations through smart contracts. Electric vehicle users can pay the charging bills through electronic wallets. We have developed the electric vehicle’s automatic-payment system using the open-source platform Hyperledger fabric. The proposed system will reduce human interaction and increase trust, transparency, and privacy among EV participants. We have analyzed the resource utilization and also performed average transaction latency and throughput evaluation. This system can be helpful for the policymakers of smart cities.

Keywords: electric vehicles; energy trading; blockchain; Hyperledger fabric; smart contract; electronic wallet; smart cities (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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