A Blockchain-based Data Market for Renewable Energy Forecasts

This paper presents a data market aimed at trading energy forecasts data. The system architecture is built using blockchain as a service, allowing access to data streams and establishing a distributed settlement between stakeholders. Energy Forecasts data is presented as the commodity traded in the market, whose settlement is provided through the blockchain on the basis of the extracted value provided by market stakeholders. Our proposal allows market stakeholders to acquire energy forecasts and pay according to the data accuracy, solving the confidentiality problem of freely sharing data. A data quality reward is introduced, steering the compensation sent to market participants. The data market design is presented and an evaluation campaign is performed, showing that the data market produced functionally valid results in comparison with the results achieved with a central simulated approach. Moreover, results show that the data market architecture is able to scale.

Automated summary

This paper presents a data market that aims to trade energy forecasts data using blockchain as a service for system architecture. Settlement of the data, presented as a commodity, is done through blockchain based on the extracted value provided by market stakeholders. The study shows that the data market design is effective and the data market architecture is scalable.