Application of blockchain technology throughout the entire microgrid system

This study aims to significantly advance the body of academic knowledge on blockchain technology in energy systems. This aim is achieved by modeling microgrids according to the trending topic of decentralized autonomous organizations (DAOs). Unlike past studies, this study takes into account the application of blockchain technology throughout the entire microgrid system. The role of blockchain-enabled DAOs in the energy sector is largely unexplored, according to the reviewed literature. This research adopts a traditional scientific approach. The work considers a practical case study of the Indian power sector, which offers insights into rapid power sector deregulation and modernization. Therefore, this work lays the foundation for developing a practical and efficient DAO model for microgrids.