Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks

Autores
Krohling, Dan E.; Mione, Federico; Hernández, Federico; Martínez, Ernesto
Año de publicación
2020
Idioma
inglés
Tipo de recurso
documento de conferencia
Estado
versión publicada
Descripción
Peer-to-Peer (P2P) Markets of prosumers trading utility surpluses (e.g., heating, cooling, or electric power) is a plausible realization of industrial symbiosis for companies in Eco-Industrial Parks (EIPs) in order to reach significant economic benefits and cut emissions. Through the synergistic co-generation and trading of utilities and industrial services, a P2P Market design makes room for socially desirable behavior despite the inherent selfish nature of each prosumer company. In this paper, a P2P Market prototype for the automated negotiation of utilities between prosumers in an EIP is proposed as a mechanism design to encourage prosumers to participate in trading surpluses. Blockchain transactions and Smart Contracts, combined with Internet of Things (IoTs) technology such as smart meters, are the implementation means to secure that the terms of exchange agreed upon will be automatically enforced. During the simulation of the EIP, each prosumer (represented by a negotiation agent) chooses whether to negotiate with another prosumer or to buy or sell its surpluses to a traditional service provider, such as a main electric power service provider or a gas provider, according to a previously learned policy while considering the context it is immersed in. Utilities between prosumers are exchanged based on a digital currency, the token, which could be readily implemented over Ethereum/Solidity platforms. Smart contract negotiations between prosumers revolve around agreeing (or not) on the price expressed in tokens of a utility profile, given the private and public information available to different parties. Simulation results highlight how automated negotiations allow prosumers to reach higher profits in the P2P Market from trading utility surpluses.
Sociedad Argentina de Informática e Investigación Operativa
Materia
Ciencias Informáticas
Industrial symbiosis and internet of things
Automated negotiation
Blockchain and smart contracts
Game theory
Reinforcement learning
Nivel de accesibilidad
acceso abierto
Condiciones de uso
http://creativecommons.org/licenses/by-nc-sa/3.0/
Repositorio
SEDICI (UNLP)
Institución
Universidad Nacional de La Plata
OAI Identificador
oai:sedici.unlp.edu.ar:10915/116978
Acceder
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spelling Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial ParksKrohling, Dan E.Mione, FedericoHernández, FedericoMartínez, ErnestoCiencias InformáticasIndustrial symbiosis and internet of thingsAutomated negotiationBlockchain and smart contractsGame theoryReinforcement learningPeer-to-Peer (P2P) Markets of prosumers trading utility surpluses (e.g., heating, cooling, or electric power) is a plausible realization of industrial symbiosis for companies in Eco-Industrial Parks (EIPs) in order to reach significant economic benefits and cut emissions. Through the synergistic co-generation and trading of utilities and industrial services, a P2P Market design makes room for socially desirable behavior despite the inherent selfish nature of each prosumer company. In this paper, a P2P Market prototype for the automated negotiation of utilities between prosumers in an EIP is proposed as a mechanism design to encourage prosumers to participate in trading surpluses. Blockchain transactions and Smart Contracts, combined with Internet of Things (IoTs) technology such as smart meters, are the implementation means to secure that the terms of exchange agreed upon will be automatically enforced. During the simulation of the EIP, each prosumer (represented by a negotiation agent) chooses whether to negotiate with another prosumer or to buy or sell its surpluses to a traditional service provider, such as a main electric power service provider or a gas provider, according to a previously learned policy while considering the context it is immersed in. Utilities between prosumers are exchanged based on a digital currency, the token, which could be readily implemented over Ethereum/Solidity platforms. Smart contract negotiations between prosumers revolve around agreeing (or not) on the price expressed in tokens of a utility profile, given the private and public information available to different parties. Simulation results highlight how automated negotiations allow prosumers to reach higher profits in the P2P Market from trading utility surpluses.Sociedad Argentina de Informática e Investigación Operativa2020-10info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionObjeto de conferenciahttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdf32-45http://sedici.unlp.edu.ar/handle/10915/116978enginfo:eu-repo/semantics/altIdentifier/url/http://49jaiio.sadio.org.ar/pdfs/siiio/SIIIO-04.pdfinfo:eu-repo/semantics/altIdentifier/issn/2618-3277info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-sa/3.0/Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported (CC BY-NC-SA 3.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-29T11:27:29Zoai:sedici.unlp.edu.ar:10915/116978Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-29 11:27:30.012SEDICI (UNLP) - Universidad Nacional de La Platafalse
dc.title.none.fl_str_mv Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
title Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
spellingShingle Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
Krohling, Dan E.
Ciencias Informáticas
Industrial symbiosis and internet of things
Automated negotiation
Blockchain and smart contracts
Game theory
Reinforcement learning
title_short Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
title_full Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
title_fullStr Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
title_full_unstemmed Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
title_sort Automated Negotiation of Smart Contracts for Utility Exchanges between Prosumers in Eco-Industrial Parks
dc.creator.none.fl_str_mv Krohling, Dan E.
Mione, Federico
Hernández, Federico
Martínez, Ernesto
author Krohling, Dan E.
author_facet Krohling, Dan E.
Mione, Federico
Hernández, Federico
Martínez, Ernesto
author_role author
author2 Mione, Federico
Hernández, Federico
Martínez, Ernesto
author2_role author
author
author
dc.subject.none.fl_str_mv Ciencias Informáticas
Industrial symbiosis and internet of things
Automated negotiation
Blockchain and smart contracts
Game theory
Reinforcement learning
topic Ciencias Informáticas
Industrial symbiosis and internet of things
Automated negotiation
Blockchain and smart contracts
Game theory
Reinforcement learning
dc.description.none.fl_txt_mv Peer-to-Peer (P2P) Markets of prosumers trading utility surpluses (e.g., heating, cooling, or electric power) is a plausible realization of industrial symbiosis for companies in Eco-Industrial Parks (EIPs) in order to reach significant economic benefits and cut emissions. Through the synergistic co-generation and trading of utilities and industrial services, a P2P Market design makes room for socially desirable behavior despite the inherent selfish nature of each prosumer company. In this paper, a P2P Market prototype for the automated negotiation of utilities between prosumers in an EIP is proposed as a mechanism design to encourage prosumers to participate in trading surpluses. Blockchain transactions and Smart Contracts, combined with Internet of Things (IoTs) technology such as smart meters, are the implementation means to secure that the terms of exchange agreed upon will be automatically enforced. During the simulation of the EIP, each prosumer (represented by a negotiation agent) chooses whether to negotiate with another prosumer or to buy or sell its surpluses to a traditional service provider, such as a main electric power service provider or a gas provider, according to a previously learned policy while considering the context it is immersed in. Utilities between prosumers are exchanged based on a digital currency, the token, which could be readily implemented over Ethereum/Solidity platforms. Smart contract negotiations between prosumers revolve around agreeing (or not) on the price expressed in tokens of a utility profile, given the private and public information available to different parties. Simulation results highlight how automated negotiations allow prosumers to reach higher profits in the P2P Market from trading utility surpluses.
Sociedad Argentina de Informática e Investigación Operativa
description Peer-to-Peer (P2P) Markets of prosumers trading utility surpluses (e.g., heating, cooling, or electric power) is a plausible realization of industrial symbiosis for companies in Eco-Industrial Parks (EIPs) in order to reach significant economic benefits and cut emissions. Through the synergistic co-generation and trading of utilities and industrial services, a P2P Market design makes room for socially desirable behavior despite the inherent selfish nature of each prosumer company. In this paper, a P2P Market prototype for the automated negotiation of utilities between prosumers in an EIP is proposed as a mechanism design to encourage prosumers to participate in trading surpluses. Blockchain transactions and Smart Contracts, combined with Internet of Things (IoTs) technology such as smart meters, are the implementation means to secure that the terms of exchange agreed upon will be automatically enforced. During the simulation of the EIP, each prosumer (represented by a negotiation agent) chooses whether to negotiate with another prosumer or to buy or sell its surpluses to a traditional service provider, such as a main electric power service provider or a gas provider, according to a previously learned policy while considering the context it is immersed in. Utilities between prosumers are exchanged based on a digital currency, the token, which could be readily implemented over Ethereum/Solidity platforms. Smart contract negotiations between prosumers revolve around agreeing (or not) on the price expressed in tokens of a utility profile, given the private and public information available to different parties. Simulation results highlight how automated negotiations allow prosumers to reach higher profits in the P2P Market from trading utility surpluses.
publishDate 2020
dc.date.none.fl_str_mv 2020-10
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url http://sedici.unlp.edu.ar/handle/10915/116978
dc.language.none.fl_str_mv eng
language eng
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