Blockchain-based smart payment scheme of power infrastructure funds

Abstract

Nowadays, the construction of smart grids and new digital infrastructure is vigorously promoted by the government, so that the power infrastructure is gradually developing towards intelligence and digitization. However, various challenges such as the industry barrier difficult to remove, the unclear supervision policy, and unmatured technology specifications are brought into the present infrastructure construction. In order to improve the timeliness and accuracy of the power infrastructure fund payment, increase the credibility of data, and enhance the quality and effectiveness of supervision and review, a blockchain-based smart payment scheme for power infrastructure is proposed in this work. First, a smart payment business framework of power infrastructure based on blockchain technology is designed. On this basis, the overall framework of the smart payment scheme and the relationships between participants of the blockchain are analyzed. Then, the smart contract for power infrastructure fund payment based on Remix IDE is customized and the correctness and efficiency of the scheme are verified. Finally, the effectiveness and advantages of the scheme are analyzed from the perspective of reliability, security, and efficiency. The simulation result shows that the smart contract based payment process of power infrastructure funds can be optimized and simplified by the proposed scheme and the overall processing time can be reduced by more than 30%.

Keywords

• Blockchain
• Smart contract
• Power infrastructure
• Fund payment
• Digital signature