Blockchain and the internet of vehicles: A conceptual model for demand response management

In recent years, the rapid increase of Electric Vehicles (EVs) has accelerated the decentralization of the power grid and highlighted the need for alternative solutions to maintain balance and stability. This chapter investigates this area and focuses on the integration of blockchain technology with the Internet of Vehicles (IoV) to support effective Demand Response Management (DRM). This research explores such a correlation in an attempt to conceptualize a model that supports effective energy management across IoV. The proposed model combines tokenized incentives, personalized charging schedules, user-centric energy trading, and privacy measures, all underpinned by the transparency and security offered by blockchain technology. Finally, the chapter outlines areas requiring additional study as well as next steps for evaluating the proposed conceptual model.