First Demonstration Experiment for Energy Trading System EDISON-X Using the XRP Ledger

TL;DR

This paper presents the first experimental demonstration of EDISON-X, a blockchain-based energy trading system using XRP Ledger, tested with students to validate its operation and explore renewable energy trading.

Contribution

It introduces EDISON-X, a novel blockchain energy trading system, and applies topology and network science methods to analyze energy market dynamics.

Findings

Preliminary evidence that market activity decreases with 'cavities' in trading topology

Successful implementation of EDISON-X in a real-world student dormitory setting

Discussion on blockchain's role in renewable energy management

Abstract

We develop an energy trading system, EDISON-X, that uses blockchain technology to manage the buying and selling of electricity usage rights, i.e., tokens. UPX and SPX tokens purchase electricity from the utility company's distribution lines and the photovoltaic panels. On July 1, 17 students in our school dormitory participated in an experiment to confirm the operation of the EDISON-X system. Based on the results of this experiment, we discuss the energy trading system using blockchain technology for the effective usage of renewable energy. We develop topology and network science methodologies to understand the characteristics of energy trading. We test the hypothesis that market transactions become less active when ``cavities'' appear using persistent homology. The preliminary result implies that the hypothesis could be adopted. We, however, need more data samples.