LOCALIZED SUSTAINABLE AND ECOFRIENDLY ENERGY GENERATION AND DISTRIBUTION USING BLOCKCHAIN NETWORK: BANGLADESH PERSPECTIVE

Abstract

The power industry of Bangladesh is not enough sustainable and eco friendly which is governed by a number of centralized authorities The energy is received from various power plants and then route the energy to substations and eventually to the consumers which is palpably inadequate to meet the far reaching demand This leads to the load shedding in many areas which is still a burning question from the socio economic perspective of Bangladesh A significant percentage of people are still deprived of uninterrupted energy supply and a many more are still out of the energy distribution network due to lack of resources The energy currently available in the country is mainly fossil fuel energy which is neither sustainable nor eco friendly and the centralized distribution of energy requires the transmission of energy at high voltages which has a lower efficiency and adds to the wastage of energy Another core problem is unauthorized connection of energy and intentional faulty meter reading submission by operators which eventually leads to a momentous loss of revenue, and this creates a sense of skepticism among the mass users on the local authorities responsible for proper energy management From the economic perspective, it is imperative to create a sustainable sector of investment for mass people due to the current fragile state of stock market and banking system Addressing these issues is obligatory to maintain the economic growth of Bangladesh as well as to elevate the lifestyle of mass people The aim of our project is to attain these milestones by creating a localized energy generation, storage, transmission and distribution system using blockchain which exhibits some genuine concern on pertinent areas and solution of the issues.