Powered by blockchain: forecasting blockchain use in the electricity market

Purpose The purpose of this study is to formulate the most probable future scenario for the use of blockchain technology within the next 5-10 years in the electricity sector based on today's experts' views. Design/methodology/approach An international, two-stage Delphi study with 20 projections is used. Findings According to the experts, blockchain applications will be primarily based on permissioned or consortium blockchains. Blockchain-based applications will integrate Internet of Things devices in the power grid, manage the e-mobility infrastructure, automate billing and direct payment and issue certificates regarding the origin of electricity. Blockchain solutions are expected to play an important big role in fostering peer-to-peer trading in microgrids, further democratizing and decentralizing the energy sector. New regulatory frameworks become necessary. Research limitations/implications The Delphi study's scope is rather broad than narrow and detailed. Further studies should focus on partial scenarios. Practical implications Electricity market participants should build blockchain-based competences and collaborate in current pilot projects. Social implications Blockchain technology will further decentralize the energy sector and probably reduce transaction costs. Originality/value Despite the assumed importance of blockchain technology, no coherent foresight study on its use and implications exists yet. This study closes this research gap.