Towards a Distributed Autonomous Organisation for Financing, Governing and Disbursing Revenues of a Battery Energy Storage System

Hanumantha Rao Bokkisam*, Iacopo Savelli, Thomas Morstyn, Paul Cuffe

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract / Description of output

This paper presents a framework for a blockchain-based decentralised autonomous organisation that mediates the financing, governance, and revenue dispersal for a battery energy storage system fully controlled by remote token holders. In the proposed framework, the participants can buy a fractional share of an energy storage asset, embodied as a blockchain token, with corresponding rights and privileges enforced by smart contracts. The token holders continually vote to govern the battery's operation (charge/float/discharge); these votes are autonomously aggregated by the smart contract, which is also empowered to directly dispatch the battery's mode of operation by issuing physical control signals. Furthermore, the smart contract itself maintains a financial payment channel with the electricity market, transacting stable coins back and forth as it buys and sells energy from the spot market, per the token holders' consensus wishes. This paper presents a case study simulation of this radical conception of asset ownership and control, whereby token holders vote based on the real-time price of electricity, their particular electricity price forecast, and the current state of charge of the battery.

Original languageEnglish
Title of host publication2022 IEEE 1st Global Emerging Technology Blockchain Forum
Subtitle of host publicationBlockchain and Beyond, iGETblockchain 2022
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781665451987
DOIs
Publication statusPublished - 3 Apr 2023
Event1st IEEE Global Emerging Technology Blockchain Forum: Blockchain and Beyond, iGETblockchain 2022 - Irvine, United States
Duration: 7 Nov 202211 Nov 2022

Conference

Conference1st IEEE Global Emerging Technology Blockchain Forum: Blockchain and Beyond, iGETblockchain 2022
Country/TerritoryUnited States
CityIrvine
Period7/11/2211/11/22

Keywords / Materials (for Non-textual outputs)

  • Battery energy storage
  • Blockchain
  • Crowd-financing
  • decentralised governance
  • Distributed Autonomous Organisation

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