The electric mobility sector is experiencing exponential growth in recent years and, with this, new challenges have been arising in optimizing the relationship between the different agents involved in this sector. The use case of GREEN, a platform under development, seeks to address these challenges through the use of advanced technologies such as Blockchain, Smart Contracts and Federated Learning.
GREEN’s main objective is to improve the relationship between four main agents: electricity grid providers, charging station managers, charging stations themselves and electric vehicles. The relationship between these agents is currently not optimized, as the electric vehicle charging process requires the charging station manager to make an estimate of the energy expenditure and, based on this, talk to the grid supplier to request a certain energy capacity.
However, this estimate can vary greatly due to lack of information and only being based on the charging station manager’s own data. This can lead to unnecessary energy expenditure or a lack of capacity at specific times, generating losses for all parties involved and making it difficult for electric vehicle users to access adequate energy at a fair value.
For this reason, GREEN seeks to create an energy demand projection model that allows charging station managers and grid suppliers to negotiate optimally. To this end, Smart Contracts technology will be used that allows managers to negotiate an adjusted price with grid suppliers based on a model trained with data from several or most of the nearby charging stations.
In addition, Federated Learning technology will be used to maintain the privacy of each charging station’s data. Charging station managers will not want to share public information about their sales or number of electric vehicles, as this is competitive information. Federated Learning allows for privacy between the different managers, avoiding the exposure of confidential information.
GREEN is generating a platform applicable to numerous use cases, this use case is just one of the many that the platform is designed for. The idea behind this platform is that it is versatile and can be used in different situations. The combination of advanced technologies and the optimization of the relationship between actors in the electricity sector promises to be a revolutionary solution for a greener and more sustainable future.
References:
YouTube video on the GREEN channel
