A delegation from State Grid Shanxi Electric Power Company (Shanxi Power) recently proposed the P3240.05 "Technical Specification Standard for Blockchain-based Power Trading Smart Contracts" at the 25th New Standards Committee Meeting (NesCom-25) of IEEE Standards Association.

The proposal was approved after being reviewed by standard committee members from the United States, Canada, India, and other countries, marking Shanxi Power's first IEEE international standard proposal.

This milestone signifies Shanxi Power's blockchain application in power trading and the recognition of the standardization of smart contracts in the energy industry. 

Blockchain technology holds great promise in energy trading. However, there are no unified international standards for smart contract technology in power trading.

Shanxi Power's proposal to IEEE-SA comprehensively regulates the design, development, deployment, and application of smart contracts for power energy. It also provides technical frameworks and security requirements to guide blockchain applications.

International experts unanimously agreed that the proposal aligns with the practical application of blockchain in the energy industry and offers normative guidance for blockchain's use in power trading.

Shanxi Power will continue to innovate and apply new technologies, such as blockchain, artificial intelligence, and big data, to meet the demands of constructing a new power system.

At the same time, Shanxi Power will strengthen collaboration with international standardization organizations like IEEE, ITU, and ISO/IEC to promote standard development and achievement commercialization, strengthening support for the new power system through technological innovation.