Blockchain and VCG mechanism-based electric-carbon collaborative transaction system and method

Abstract

The present application relates to the cross field of energy power and information technology, in particular to an electricity-carbon collaborative transaction system and method based on a blockchain and a VCG (Vickrey-Clarke-Groves) mechanism, wherein a decentralized identity protocol is used to realize the trusted registration of market subjects; a tokenization technology is used to map green power rights and interests and carbon assets into on-chain digital assets; an extended social welfare function considering carbon emission costs is constructed based on the VCG mechanism to realize electricity-carbon collaborative clearing and incentive compatible pricing; an intelligent contract is used to realize the automatic execution of the whole process from transaction declaration, clearing calculation, fund settlement to asset delivery; and the trusted data and intelligent contract of the blockchain are used to provide a penetrating data query interface for the whole business chain and an intelligent risk early warning capability based on real-time on-chain event triggering for the regulatory authorities. The present application solves the problems of the split of electricity and carbon markets, strategic pricing, difficulty in tracing green rights and interests, and centralized trust bottlenecks, realizes the deep integration of the electricity market and the carbon market in terms of mechanism, data, assets and supervision, and provides a complete technical solution for building a new generation of electricity-carbon collaborative transaction infrastructure that is transparent, trustworthy, incentive compatible, automatically executed and real-time supervised.

Description

Technical Field

[0001] This invention relates to the intersection of energy, power and information technology, and specifically to an electricity-carbon collaborative trading system and method based on blockchain and VCG mechanisms. Background Technology

[0002] With the deepening of the "dual carbon" goals, the clean and low-carbon transformation of the power system is accelerating, making the coordinated operation of the electricity market and the carbon emissions trading market (hereinafter referred to as the "carbon market") crucial. However, under the existing technological system, electricity trading and carbon trading are fragmented at the mechanism, market, and regulatory levels, making it difficult to form effective synergy and price signals, thus hindering the improvement of the overall emission reduction efficiency of the energy system. Current technologies mainly have the following limitations: At the market mechanism level, the electricity carbon market is fragmented and lacks a coordinated pricing mechanism. Traditional electricity market clearing has not fully internalized carbon emission costs, and carbon price signals cannot be fed back to electricity production and consumption decisions in real time. The existing "ex-post" carbon accounting method fails to optimize the coordination between electricity flow and carbon flow, resulting in distorted price signals and inefficient resource allocation. At the same time, the traditional unified marginal electricity price clearing mechanism is susceptible to market forces, making it difficult to guarantee market fairness and efficiency.

[0003] At the technical implementation level, centralized architectures suffer from trust and transparency bottlenecks. Existing electricity carbon trading platforms are mostly centralized, relying on the authority of a central institution, resulting in high trust costs and low transparency. Electricity, carbon verification, and asset data are fragmented, forming "data silos" that hinder reliable sharing and automated verification. Furthermore, the entire green rights tracking chain relies on manual verification, which is opaque, inefficient, and fails to guarantee authenticity and reliability.

[0004] At the asset digitization level, physical rights and digital certificates are disconnected, resulting in low circulation efficiency. Currently, most green electricity (referred to as "green electricity") certificates (such as green certificates) and carbon allowances (such as CCERs) are registered using centralized databases, which are essentially electronic records and lack truly digital, programmable carriers. Their trading, transfer, and cancellation processes rely on manual approval and ledger updates, which are cumbersome, time-consuming, and costly. Furthermore, it is difficult to achieve automated ownership linkage and joint verification with electricity trading contracts and actual power generation / consumption data, hindering the efficient flow and value realization of electricity carbon assets.

[0005] At the regulatory and compliance level, the focus is primarily on post-event audits, lacking real-time penetration capabilities. Current regulations mainly rely on post-event reports submitted by trading institutions and sampling inspections, which suffer from problems such as information lag, difficulty in obtaining evidence, and incomplete coverage. There is a lack of real-time, comprehensive monitoring and early warning mechanisms for potential data falsification and market manipulation in electricity-carbon collaborative trading, making it difficult to achieve penetrating and precise regulation.

[0006] At the level of identity and data trustworthiness, there is a lack of a unified and verifiable foundation of trust. When market participants (power generation companies, users, electricity sales companies, etc.) and their physical equipment (wind turbines, meters, etc.) interact across systems, identity authentication and data sources rely on their respective centralized systems, resulting in high mutual trust costs. This makes it difficult to support the basic requirements of automated, high-frequency electricity-carbon collaborative trading, which require trustworthy identities, authentic data, and clear ownership.

[0007] To overcome these shortcomings, the industry has begun exploring the application of blockchain technology in the energy sector. However, most of these efforts focus on single aspects (such as green certificate traceability and carbon data storage), and a complete technological system integrating trusted identity, asset digitization, incentive-compatible market mechanisms, automated settlement, and intelligent supervision has not yet been formed. Particularly at the market mechanism level, how to combine advanced mechanisms such as VCG (Vickrey-Clarke-Groves), which guide participants to disclose their true preferences and has anti-manipulation characteristics, with the trusted execution environment of blockchain to build an efficient and fair electricity-carbon collaborative market remains a technological gap.

[0008] Therefore, given the limitations of existing technologies, there is an urgent need to propose an innovative and systematic solution that uses blockchain as the foundation of trust and the VCG mechanism as the core economic tool to achieve deep integration of the electricity market and the carbon market in terms of mechanism, data, assets, settlement, and regulation. This would enable the construction of a new generation of electricity-carbon collaborative trading infrastructure that is transparent, trustworthy, incentive-compatible, automatically executed, and subject to real-time supervision.

[0009] This invention proposes a collaborative trading system and method for electricity and carbon based on blockchain and VCG mechanisms. The method includes the following innovative designs: (1) Coordinated clearing of electricity and carbon emissions and coordinated pricing mechanism. Based on a unified optimization model, the coordinated clearing of electricity and carbon emissions is realized. The model aims to maximize social welfare, while coupling the constraints of power system operation and total carbon emissions. Based on the VCG mechanism, a unified clearing electricity price and carbon price with incentive compatibility are generated, forming a joint price signal that coordinates the allocation of power resources and the orientation of carbon emission reduction. (2) Incentive-compatible market design based on VCG. Introducing the VCG mechanism into the clearing of the electricity carbon market, and using the "virtual removal-marginal contribution" calculation method, allows participants to make bids based on real costs and utility as the dominant strategy, thereby suppressing strategic bidding and abuse of market power from the source of mechanism design, and improving market efficiency and fairness; (3) Trusted evidence storage and automated execution throughout the entire process based on blockchain. Relying on the consortium blockchain to build an immutable distributed ledger, market rules are coded and automatically executed through smart contracts, realizing full-process data traceability and transparent and trustworthy rules from identity authentication, asset registration, transaction matching, settlement and delivery to regulatory audit; (4) Tokenization-driven closed-loop circulation mechanism of electricity-carbon assets. Design a standardized digital token system to map green electricity environmental rights and carbon assets into programmable, divisible, and verifiable on-chain tokens, and realize a fully automated and verifiable closed-loop circulation of "green electricity production - digital certificate generation - electricity consumption - carbon asset verification" through smart contracts; (5) Embedded penetrating supervision and compliance enforcement framework. Regulatory nodes with special permissions are set up for regulatory agencies, supporting them to directly access the original on-chain data and real-time transaction flow, and a configurable compliance rule engine is built in, so as to realize real-time monitoring, early warning and intervention of abnormal market behavior, illegal transactions and systemic risks, and promote the transformation of the regulatory model from post-event inspection to in-event penetration.

[0010] The above-mentioned innovative designs together constitute a transparent, incentive-compatible, closed-loop credible, and effectively regulated electricity-carbon collaborative trading system, achieving deep integration of the electricity market and the carbon market in terms of mechanisms, data, assets, and regulation at the technical level. Summary of the Invention

[0011] The purpose of this invention is to propose a collaborative trading system and method for electricity carbon based on blockchain and VCG mechanisms, aiming to solve the following core problems existing in the current operation of the electricity carbon market: (1) There is a disconnect between the traditional electricity market and the carbon market in terms of mechanism. The two usually operate independently and lack an effective coordination mechanism, which will lead to: the failure of power dispatch decisions to fully consider the social costs of carbon emissions; the difficulty in timely and accurately reflecting carbon price signals in electricity trading; and the difficulty in achieving systematic optimization of the allocation of power resources and carbon emission resources. (2) The existing electricity market mechanism faces challenges in terms of efficiency and fairness. The market generally adopts a uniform marginal price clearing method, which may lead to the following problems: power generators strategically overstate their costs, and users conceal their true electricity consumption utility; excessive concentration of market power will further distort electricity prices and lead to imbalance in resource allocation; more importantly, the current mechanism lacks an effective incentive-compatible design, making it difficult to guide participants to truly reflect their own preferences, thereby affecting the overall efficiency and fairness of the market. (3) The traceability and credible transfer mechanism of green rights is still insufficient. At present, the management system of green certificates and carbon assets has the following problems: the data of green electricity production, trading and consumption are isolated, making it difficult to achieve credible traceability of the whole chain; there is a risk that environmental rights are repeatedly issued and consumed; at the same time, the circulation efficiency of paper or centralized electronic certificates is low and the transaction cost is high. (4) The current carbon trading system relies heavily on centralized institutions, which raises concerns about the reliability of data and rules. The centralized management model is prone to the following risks: the lack of transparency in the execution of trading data and rules makes it difficult for participating parties to conduct effective verification; the system has the potential for single-point failures and data tampering; and the regulatory mechanism relies heavily on post-event reporting, making it difficult to achieve penetrating, real-time, and full-process audit supervision of the trading process. (5) The current level of automation in the collaborative settlement of electricity carbon assets is insufficient. Electricity trading and carbon verification are separate systems, requiring manual reconciliation and cross-departmental coordination, resulting in complex processes and low efficiency. In addition, green electricity consumption and carbon emission reduction certification have not been effectively linked, making it difficult to achieve a precise match of "each kilowatt-hour of green electricity corresponding to the corresponding emission reduction," which hinders the confirmation and transfer of environmental rights. At the same time, the existing settlement mechanism is lengthy and cannot support the demand for high-frequency, large-scale real-time transactions.

[0012] To achieve the above objectives, this invention provides a collaborative trading system and method for electricity and carbon based on blockchain and VCG mechanisms, comprising the following steps: Step 1: Deploy the infrastructure and blockchain framework for the electricity carbon collaborative trading platform; Step 2: Construct a market entity identity and asset access system based on decentralized identifiers and verifiable credentials; Step 3: Digitally map and manage green electricity environmental rights and carbon emission reductions through standardized token protocols; Step 4: Realize market clearing and settlement for electricity-carbon co-existence based on the VCG mechanism; Step 5: Achieve automated transaction settlement, trusted data storage, and transparent regulatory auditing.

[0013] Optionally, the execution process of step 1 includes the following steps: Step 1.1: Deploy and optimize the Linux enterprise server, complete the kernel, network and resource configuration, and build a stable and efficient basic operating platform; Step 1.2: Deploy and configure a PostgreSQL relational database as an off-chain data management infrastructure to store and manage the following three types of data: basic user information and dynamic credit profiles, off-chain business details indexes associated with on-chain ledger records, and frequently generated transaction process logs and system audit trace records; Step 1.3: Establish an encrypted data channel between the database and the blockchain to achieve two-way verification and collaborative calling of off-chain details and on-chain evidence hashes, forming an integrated on-chain and off-chain data governance system; Step 1.4: Deploy the Hyperledger Fabric consortium blockchain network to build a trusted, collaborative infrastructure for multiple parties. This specifically includes: (1) Establish a network topology for sorting service nodes, peer nodes and certificate authorities to support power generation companies, electricity sales companies, power grids, regulators and other entities to run nodes as independent organizations; (2) Utilize the Fabric channel mechanism to create a dedicated channel for core electricity carbon trading data to ensure trading privacy; (3) Deploy a chaincode lifecycle management system to provide a standardized process for the installation, instantiation, and upgrade of subsequent smart contracts. This network serves as the underlying trusted ledger and automated contract execution engine for the entire trading platform.

[0014] Optionally, the execution process of step 2 includes the following steps: Step 2.1: Deploy the "Decentralized Identifier Registry" smart contract (DIDRegistry) to create and maintain W3C-compliant DID identifiers for market participants, including enterprises, users, and energy devices. Each DID document is associated with a self-generated asymmetric encryption key pair. The public key is used for authentication and communication encryption, while the private key is securely kept by the holder and uses digital signatures to enable autonomous updates and attribute management of the DID document. Step 2.2: Deploy the "Verifiable Credential Registration and Verification" smart contract (VCRegistry) to register credential metadata, including credential hash, issuer DID, and credential status (valid / revoked), establishing an on-chain credential status registration center. Detailed credential data is stored off-chain by the holder, and a verification interface is provided for status query and verification. The main credential types include: (1) Green attributes and carbon emission reduction certificates: issued by qualified green electricity certification bodies. The certificate statement includes the carbon dioxide emission reduction equivalent corresponding to the unit power generation of a specific power generation equipment, such as "for every 1 megawatt-hour (MWh) of green electricity generated by this equipment and connected to the grid, it is equivalent to a reduction of 0.8 tons of CO2 emissions based on the regional grid benchmark emission factor", which constitutes the basis for the value conversion of electricity-carbon co-trading; (2) Market Entity Qualification Certificate: Issued by the energy regulatory authority. This certificate proves that the enterprise has completed the statutory procedures such as electricity business licensing and carbon market access verification, and is qualified to participate in the electricity carbon market. (3) Credible data source certificate: issued by the metering or power grid authority. It proves that the metering data of the designated electricity meter, sensor or data acquisition system has legal validity and can be used as a credible basis for transaction settlement and carbon accounting; Step 2.3: Controllable Verification and Disclosure of On-Chain Identity and Credentials. When market participants submit transactions or data on-chain, they must sign the content using a private key bound to their own DID and can selectively disclose relevant credentials depending on the scenario. During smart contract execution, the VCRegistry contract will be automatically invoked to verify the credential signature, issuer identity, and current status (valid / revoked) in real time, achieving automatic real-time verification of identity and attributes under a decentralized architecture.

[0015] Optionally, the execution process of step 3 includes the following steps: Step 3.1: Deploy the "Green Electricity Digital Certificate" smart contract (GreenREC). This contract adopts the ERC-1155 multi-token standard or the ERC-3525 semi-fungible token standard to construct a divisible and composable digital certificate system. Each unit of certificate is denoted as G-REC, corresponding to the environmental rights of 1 MWh of green electricity produced by a specific power generation facility within a specific time frame. The rules for creating and binding the above certificates are as follows: (1) Certificate Minting Trigger: After the power generation data backed by the Trusted Data Source Certificate (VC) is verified on the blockchain, the smart contract automatically verifies the validity of the VC and mints an equivalent amount of G-REC to the corresponding enterprise wallet according to the verified power generation. (2) Environmental attribute binding: The metadata of each batch of G-REC uniquely records its source "green attribute certificate", including power generation equipment, geographical coordinates, power generation time interval, power generation technology type and verified carbon dioxide emission reduction factor, forming an unalterable and complete traceability chain; Step 3.2: Deploy the "Carbon Asset" smart contract to manage National Certified Emission Reductions (CCERs) or other forms of carbon emission allowances. This contract uses the ERC-721 non-fungible token standard or the ERC-1155 standard with batch attributes to ensure that each carbon asset is uniquely identifiable and traceable. Each carbon asset token represents "one ton of CO2 equivalent emission reduction rights or carbon emission allowances." This step uses an on-chain mapping mechanism to map the CCERs or carbon allowances issued by the competent authority to on-chain tokens via digital signatures by the legal registration institution, and then transfers them to the holder's on-chain digital wallet, completing the on-chain uniqueness confirmation and initial allocation. Step 3.3: Deploy the "Electricity-Carbon Collaborative Settlement" logic module. This module can automatically execute collaborative operations for green electricity consumption and carbon emission reduction verification, realizing a closed-loop flow of electricity-carbon assets. The main operations are as follows: (1) Settlement trigger: When a user completes green electricity consumption, that is, when the corresponding G-REC is transferred or marked as "used", the electricity-carbon co-settlement process is automatically triggered; (2) Equity conversion and write-off: The smart contract calculates the corresponding carbon emission reduction equivalent based on the carbon emission reduction factor approved in the "green attribute certificate" bound to G-REC, and calls the "carbon asset" smart contract interface to destroy an equivalent amount of carbon asset tokens from the user's designated account, thus completing the on-chain clearing and settlement and the termination of ownership. (3) Closed-loop delivery and audit trail: After the asset write-off is completed, the system performs closed-loop and audit operations: 1) State synchronization and ownership closed loop A. Update the G-REC status to "verified" and prevent it from being transferred again; B. Write a reference link to the destroyed carbon asset token ID in the G-REC token metadata, and add an index hash pointing to the corresponding G-REC token in the carbon asset destruction record to achieve bidirectional association; 2) End-to-end audit tracking A. Encapsulate all key parameters in the above operation process, including G-REC status change, destruction receipt, emission reduction factor, participant address, timestamp, etc., into a "collaborative settlement event"; B. Write the event to the on-chain transaction log and generate a unique event hash; C. The event hash and complete data serve as audit anchors and are broadcast across the entire network. Regulators / auditors can obtain and verify the complete chain of evidence for the transaction in real time through a query interface, ensuring that the environmental rights of each unit of green electricity have been compliantly and uniquely converted and offset.

[0016] Optionally, the execution process of step 4 includes the following steps: Step 4.1: Deploy the "Electricity-Carbon Collaborative Order Book" smart contract (OrderBook) to receive and manage standardized bidirectional orders. Each order includes: the submitter's DID, the electricity / carbon price quote, the transaction amount and time period, an on-chain reference to the attribute certificate, and the submitter's private key signature. After an order is submitted, the contract verifies the validity of the DID, the authenticity of the digital signature, and the legality of the associated attribute certificate. It then adds the order to the valid order pool for the current trading cycle and assigns a unique on-chain sequence number to each order, supporting full lifecycle tracking and auditing. Step 4.2: Deploy the core smart contract "VCG Auction and Clearing" (VCGAuctionClearing). This contract is automatically triggered at the end of each trading cycle, performing the following clearing calculations: (1) Order collection and verification: Read all valid orders in the current trading period from the "Electricity-Carbon Collaborative Order Book" contract and verify their status and the validity of the associated vouchers; (2) Clearing Model Construction and Solution: Based on the current cycle's buy and sell orders, an optimization model is constructed with the goal of maximizing social welfare. This model considers electricity utility, power generation cost, and the social cost of carbon emissions, and incorporates constraints such as power balance, network transmission, and total carbon emissions. Its specific components are as follows: , The settings for the above clearing model are explained below: 1) User Electricity efficiency: expressed as a quadratic function ,in It's about electricity consumption. Reflects users' basic valuation of electricity (in yuan) ), It is the coefficient of diminishing marginal utility, ensuring that utility increases with increasing electricity consumption but at a decreasing rate of increase. For user collection, For unit assembly; 2) Generator set Electricity generation cost: expressed as a quadratic function. ,in It was the thermal power plants that provided the power. , and The cost coefficient can be calibrated using historical operating data of the unit. The marginal cost of renewable energy units tends to zero and can be simplified to a constant or a linear function. 3) Carbon social cost item: Carbon social cost parameters This represents the marginal social damage (in yuan) caused by each ton of carbon dioxide emissions. Its value can be determined based on the range recommended in the Intergovernmental Panel on Climate Change (IPCC) report, or adjusted in conjunction with the recent average price in the domestic carbon market. Total system carbon emissions. The calculation is as follows: , in, For generator sets Dynamic carbon emission intensity ( Its value varies with the load factor of the thermal power unit (load factor = Dynamic changes can be fitted using data-driven artificial neural network models or quadratic functions: If the system is equipped with carbon capture and storage equipment, the carbon capture capacity will be [not specified]. It can be modeled as a function of the energy consumption of the capture process; The optimization model must satisfy the following constraints: 1) Power balance constraints. Ensure that the power generation and consumption of each node (or the entire network) maintain an instantaneous balance at each time period: , , in, For access nodes A collection of generator sets, For nodes The load set, It is a node For the line Power distribution factor of power flow Indicates the line The meritorious trend, Represents the total number of nodes; 2) Network security constraints. Prevent line overload and consider the "N-1 security" for anticipated failures: A. Normal operating status: , ; B. N-1 Fault Status: Assuming any single line Disconnect, remaining lines trend satisfaction ; C. Power Flow Calculation Model: In the DC power flow model, ;; 3) Carbon emission constraints. The total carbon emissions of the system will be controlled within the upper limit set by the government or the market. , Among them, the carbon emission cap Based on the total national carbon market quota, or combined with free allowances for generating units. Related. Quota allocation model reference: ,in As a benchmark for carbon emissions, This is the load factor correction factor; 4) Unit technical constraints: A. Upper and lower limits of output: ; B. Climbing constraint: ,in For generator sets Maximum climbing rate; C. Minimum start-stop time: Introducing a binary variable Indicates the unit During the period The start / stop state satisfies: , in, and These are the minimum continuous operating time and minimum downtime of the unit, respectively. The optimization model is solved on off-chain computing nodes or on-chain environments that support zero-knowledge proofs, and the optimal clearing results, including the winning status of each order, the winning electricity volume, and the total social welfare value of the system, are submitted back to the smart contract. (3) Execution of VCG Payment Calculation: To determine the final payment amount or remuneration due to the successful bidder, the contract executes a marginal contribution calculation process. For each successful bidder... : 1) Virtual Removal: Temporarily remove the winning bidder from the valid order set of the current trading period. All orders constitute "no participant" A subset of orders; 2) Resolve the optimization problem: Based on this subset of orders, resolve the social welfare maximization problem described in step 4.2 to obtain the solution of removing participants. The optimal total social welfare value ; 3) Calculate VCG payments: Participants Final payment Determined by the following formula: , in, For the optimal total social welfare including all participants For participants The payment amount reflects the participant's self-utility based on their bid and the volume of electricity won. The externalities of joining the market to other participants are numerically equal to the number of participants. The theoretical revenue derived from each bid is subtracted from the net increase in social welfare it brings to the market. This calculation process is repeated until all successful bidders have completed their payment calculations. (4) Clearing result release and status update: The contract writes the list of successful bidders, the electricity volume of each successful bidder, the VCG payment price, the unified marginal electricity price and carbon price, etc. as tamper-proof transaction records into the blockchain, and automatically updates the status of related certificates, such as marking G-REC as "cleared", synchronizing carbon asset ownership, and completing the synchronization of on-chain asset status. Step 4.3: Incentive Compatibility and Trusted End-to-End Evidence Storage. This VCG mechanism ensures that the actual price quotes represent the optimal strategy for all rational participants through mandatory transparent on-chain execution. Its main operations are as follows: (1) Incentive-compatible enforcement: The smart contract uses the clearing result and VCG payment price as the final immutable on-chain record. Based on the mathematical proof of incentive compatibility and code immutability, it makes the real declaration the optimal strategy and eliminates the motivation for strategy bidding. (2) Full-process trusted evidence storage: After the contract completes the clearing calculation, the clearing input hash, model parameters, intermediate states, clearing results, payment details and algorithm version, etc. are packaged together to generate an immutable clearing evidence package, which is permanently recorded on the blockchain, providing a traceable and independently verifiable audit basis for subsequent settlement, dispute arbitration and supervision.

[0017] Optionally, the execution process of step 5 includes the following steps: Step 5.1: Deploy the "AutoSettlement" smart contract to automatically trigger irreversible on-chain clearing settlement and asset delivery after receiving the final clearing result. The main process is as follows: (1) Clearing of cash flow 1) Based on the VCG payment price and the transaction volume, automatically calculate the net amount of receivables and payables for each entity; 2) By integrating a digital payment module, automatically execute multilateral net cash transfers, including: A. The corresponding electricity and carbon charges will be deducted from the electricity purchaser's digital wallet; B. Pay the electricity fee to the electricity seller; C. Directly pay the carbon premium to the green electricity certificate provider or carbon asset holder; (2) Asset transfer: 1) After the funds are cleared, the GreenREC contract in step 3.1 and the CarbonAsset contract in step 3.2 will be automatically invoked; 2) Mark the G-REC consumed by the electricity purchaser as "written off" or perform a destruction operation to indicate that their environmental rights have been realized; 3) Based on the emission reduction factors tied to this batch of green electricity, destroy or transfer the corresponding number of carbon asset tokens to complete the carbon emission rights write-off; 4) The settlement contract generates a "Green Electricity Consumption and Carbon Emission Reduction Verification Certificate" containing transaction hashes, asset change records, and timestamps, which serves as an immutable on-chain certificate; Step 5.2: Deploy the "Trusted Data Oracle" smart contract and integrate a decentralized oracle to build a secure channel between physical data and on-chain contracts: (1) Trusted data anchoring: Trusted data sources such as calibrated electricity meters, power plant monitoring, and carbon verification are collected by a decentralized oracle network, and their hash values ​​are calculated in real time to prevent the risk of single-point data forgery; (2) On-chain hash storage: Oracle nodes submit the data hash value along with its digital signature and timestamp to the storage contract for on-chain storage. Only the hash value is stored to protect privacy, improve efficiency, and ensure that the data integrity is verifiable. (3) Data-driven business triggering: When the actual power generation / consumption data on the chain matches the winning bid electricity, or after the carbon verification report is on the chain, the contract automatically triggers settlement or asset delivery, realizing business automation based on trusted data; Step 5.3: Deploy a dedicated smart contract for "Regulation and Audit" (RegulatoryAudit) to provide regulatory agencies with a standardized on-chain regulatory entry point and audit capabilities: (1) Regulatory identity access: Issue dedicated DIDs and high-authority verifiable credentials to each regulatory agency to support their trusted access to the network and achieve traceable operation and auditable permissions; (2) Full-chain penetration audit query: The regulatory node retrieves full-dimensional information such as the entire network transaction, fund flow, green electricity and carbon asset full-cycle circulation trajectory, certificate status, physical data hash, etc. through a dedicated interface to achieve panoramic real-time supervision; (3) Compliance Engine and Real-time Early Warning: The regulatory contract has configurable compliance rules embedded in it, which can support setting thresholds for abnormal price fluctuations, identification of related transactions, and detection of abnormal settlement behavior. It continuously monitors on-chain activities, and provides real-time encrypted alerts for behaviors that trigger the rules and pushes them to the regulatory terminal. It supports in-process intervention and risk marking, and improves regulatory response and risk control capabilities.

[0018] This invention provides a collaborative trading system and method for electricity carbon based on blockchain and VCG mechanisms. It constructs a decentralized electricity carbon trading platform, providing trusted access for market participants such as power generation companies, electricity users, and regulatory agencies through an on-chain verifiable identity system. Based on the VCG clearing model, smart contracts execute order aggregation, marginal calculation, and unified clearing in parallel within each trading cycle, forming incentive-compatible electricity and carbon prices. Through on-chain asset digital mapping, it enables the programmable transfer of green electricity certificates and carbon allowances. Utilizing a multi-channel ledger to isolate transaction data from regulatory audit information, it supports transparent supervision while ensuring data privacy. This invention achieves efficient collaborative allocation of electricity carbon market resources based on asynchronous clearing and real-time settlement mechanisms. Through dynamic certificate binding and on-chain clearing rules, it ensures the traceability and tamper-proof nature of green rights. While maintaining market fairness, it significantly improves transaction transparency and settlement efficiency, and can support flexible market rule evolution through modular contracts. Attached Figure Description

[0019] To more clearly illustrate the technical solutions in the embodiments of the present invention or the prior art, the drawings used in the description of the embodiments or the prior art will be briefly introduced below. Obviously, the drawings described below are only some embodiments of the present invention. For those skilled in the art, other drawings can be obtained based on these drawings without creative effort.

[0020] Figure 1This is a flowchart illustrating the steps of an electricity-carbon collaborative trading system and method based on blockchain and VCG mechanisms according to the present invention.

[0021] Figure 2 This is a schematic diagram of the execution environment of an electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism according to the present invention.

[0022] Figure 3 This is a flowchart illustrating the identity and credential protocol in this invention.

[0023] Figure 4 This is a flowchart illustrating the asset token protocol in this invention.

[0024] Figure 5 This is a flowchart illustrating the market mechanism agreement in this invention.

[0025] Figure 6 This is a flowchart illustrating the clearing and settlement agreement in this invention. Detailed Implementation

[0026] Embodiments of the present invention are described in detail below, examples of which are illustrated in the accompanying drawings, wherein the same or similar reference numerals denote the same or similar elements or elements having the same or similar functions throughout. The embodiments described below with reference to the accompanying drawings are exemplary and intended to explain the present invention, and should not be construed as limiting the present invention.

[0027] Please see Figure 1 This invention provides a collaborative trading system and method for electricity and carbon based on blockchain and VCG mechanisms, comprising the following steps: Step 1: Deploy the infrastructure and blockchain framework for the electricity carbon collaborative trading platform; Step 2: Construct a market entity identity and asset access system based on decentralized identifiers and verifiable credentials; Step 3: Digitally map and manage green electricity environmental rights and carbon emission reductions through standardized token protocols; Step 4: Realize market clearing and settlement for electricity-carbon co-existence based on the VCG mechanism; Step 5: Achieve automated transaction settlement, trusted data storage, and transparent regulatory auditing.

[0028] The following provides further explanation with reference to specific embodiments and execution processes: like Figure 2 As shown, the execution environment of the electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism of the present invention consists of the following components: (1) Physical data source layer: This layer serves as the bottom data acquisition end of the system. It integrates and deploys smart meters with standardized communication interfaces, a plant-level monitoring and data acquisition (SCADA) system, and carbon emission metering equipment with real-time monitoring capabilities, which together constitute a trusted acquisition network for multi-source heterogeneous physical data.

[0029] (2) Off-chain support environment layer: This layer serves as a key intermediate layer connecting the physical world and the blockchain trusted execution environment, undertaking three core functions: data bridging, high-performance computing, and business data storage. 1) Decentralized Oracle Network: Through a multi-node collaborative verification oracle network, secure and verifiable transmission of external physical data such as smart meters and SCADA systems to the blockchain is achieved; 2) High-performance parallel computing cluster: Deploy a high-performance computing cluster based on a distributed architecture, specifically designed to handle computationally intensive tasks such as the VCG clearing model, ensuring the efficiency and real-time nature of market clearing; 3) Structured off-chain database: Relational databases are used to store and manage non-sensitive business data in a structured manner, supporting historical transaction archiving, system operation monitoring and regulatory compliance queries, forming a collaborative data governance system between on-chain and off-chain.

[0030] (3) Blockchain Infrastructure Layer: This layer is built on the Hyperledger Fabric consortium blockchain framework, forming a trusted distributed ledger platform that supports multi-party collaboration. Its architecture specifically includes: 1) Consensus Layer: Employs the Practical Byzantine Fault Tolerance (PBFT) consensus algorithm, which achieves global consistency and finality of transaction order through sorting service nodes; 2) Network layer: Based on a multi-channel isolation architecture, separate electricity trading channels and carbon emission trading channels are established to achieve logical separation of business data and privacy protection; 3) Storage layer: Composed of a world state database and a blockchain history record, which respectively maintain a quickly queryable view of the current ledger state and a complete transaction traceability chain; 4) Contract Layer: Provides a secure and isolated chaincode container execution environment, supports the deployment, invocation and lifecycle management of various smart contracts, and ensures the programmability and automated execution of business logic.

[0031] (4) Core Protocol Layer: This layer is built on top of the blockchain infrastructure and provides a standardized and interoperable technical protocol stack for electricity-carbon collaborative trading, specifically including: 1) Identity and Credentials Protocol: Adhering to W3C standards, it implements a decentralized identifier and verifiable credential system to support on-chain trusted authentication and lifecycle management of market entities, devices, and qualifications; 2) Asset Token Protocol: Based on multiple token standards such as ERC-1155, we design an on-chain representation model for green electricity digital certificates and carbon emission rights assets to achieve unique asset identification, divisible transferability, and ownership traceability. 3) Market Mechanism Protocol: The code integrates a VCG incentive-compatible mechanism to achieve on-chain executable logic for joint market clearing of electricity and carbon, marginal contribution pricing, and optimization of social welfare; 4) Clearing and Settlement Agreement: Defines the multilateral net settlement rules for funds and assets, and drives the automated delivery and status synchronization of electricity fees, carbon fees and digital assets through smart contracts to form a closed loop of transactions.

[0032] (5) Application Service Layer: This layer constructs interactive interfaces for different participating entities, specifically including: 1) Trading Portal DApp: A decentralized application developed based on the Web3 technology stack, providing market participants with one-stop interactive functions such as on-chain identity authentication, joint pricing of electricity and carbon, order management, and transaction result query; 2) Asset write-off platform: Dynamically displays the entire lifecycle of green electricity digital certificates and carbon quota assets through a visual dashboard, supporting multi-dimensional statistical analysis and audit traceability; 3) Compliance and Supervision Platform: Integrates multi-source data monitoring, rule engine and early warning model to provide regulatory agencies with comprehensive regulatory support such as identification of abnormal market behavior, display of risk heat map, penetrating transaction tracking and generation of compliance reports.

[0033] (6) Users and regulators: This layer includes multiple participating entities, whose composition and responsibilities are as follows: 1) Market participants A. Power generation companies: covering various power operators such as thermal power, hydropower, wind power, and photovoltaic power, which submit power generation capacity and cost information through on-chain nodes, participate in the electricity market and obtain electricity fees and green rights benefits; B. Electricity users / electricity sales companies: As representatives of the electricity consumption side, they declare their electricity demand and willingness to pay, purchase electricity, and fulfill their corresponding carbon responsibilities; C. Energy storage operators: Relying on energy storage systems to provide flexible adjustment capabilities, they participate in the electricity market and ancillary services market transactions; D. Virtual power plant / aggregator: Integrates resources such as distributed power sources, energy storage, and controllable loads, and participates in market transactions and system regulation as an aggregator entity; 2) Third-party service providers A. Green electricity certification body: responsible for verifying renewable energy power generation projects and issuing green electricity attribute certificates, which serve as the basis for the issuance of green electricity digital certificates (G-REC); B. Carbon verification and registration agency: Conducts carbon emission monitoring, verification and accounting work, and is responsible for the issuance, registration and transfer management of carbon quotas and nationally certified voluntary emission reductions; C. Metering and data service providers: provide calibrated power generation and consumption data collection and trusted blockchain services to support the data foundation for power trading and carbon accounting; D. Financial institutions / clearing houses: Provide clearing services for electricity and carbon fees, and design, issue and trade carbon financial derivatives; 3) Regulatory agencies A. Energy regulatory authorities: Supervise electricity market transactions, abuse of market power, and fair competition to maintain market order; B. The ecological and environmental authorities: supervise the monitoring and reporting of carbon emission data, the settlement of carbon quotas, and the authenticity and compliance of environmental rights; C. Financial regulatory authorities: Supervise carbon-related financial derivatives trading, fund clearing and settlement, and related financial activities to prevent financial risks.

[0034] Furthermore, the execution process of this invention includes four protocols: identity and credential protocol, asset token protocol, market mechanism protocol, and clearing and settlement protocol. These protocols work together to ensure the secure, efficient, and reliable operation of the system.

[0035] The Identity and Credentials Protocol is responsible for the full lifecycle management of trusted identities for market participants and their devices. The protocol's main functions are as follows: 1) Market participants generate decentralized identifiers through on-chain DID registration contracts and bind them to verifiable credentials issued by authoritative institutions; 2) Credential status is synchronized on-chain in real time, supporting validity queries and revocation updates; 3) When submitting orders, transaction participants must attach a digital digest and signature of the relevant credentials, and nodes verify the validity and permission matching of the credentials before consensus; 4) Identity data and transaction data are isolated through a multi-channel mechanism, ensuring regulatory auditability while protecting user privacy. This protocol, through structured credential templates and on-chain status synchronization mechanisms, builds a foundation for cross-institutional and cross-system identity trust. Figure 3 The main processes of the identity and credentials protocol are described.

[0036] The asset token protocol is responsible for the digital representation and circulation control of green electricity environmental rights and carbon emission rights assets. The protocol's main functions are as follows: 1) Defining the data structure and issuance rules of green electricity digital certificates and carbon asset tokens based on multiple token standards such as ERC-1155; 2) Automatically triggering token minting based on trusted metering data through the collaboration of smart contracts and oracle networks; 3) Binding verifiable attributes such as source device, time range, and emission reduction factors to the token metadata to form a globally unique asset identifier; 4) Establishing on-chain rules for token circulation and state changes, including operations such as transfer, splitting, merging, and cancellation, ensuring clear asset ownership and full traceability. This protocol achieves a reliable mapping of physical environmental rights to programmable digital assets, supporting the automated collaborative circulation of electricity and carbon assets. Figure 4 The main processes of the asset token protocol are described.

[0037] The market mechanism protocol leverages the VCG mechanism to achieve incentive-compatible clearing and pricing in the electricity-carbon collaborative market. The protocol's main functions are as follows: 1) It receives and verifies joint electricity-carbon bids submitted by market participants through an order book contract. Bids must include electricity price, carbon premium, and relevant supporting documentation; 2) At the end of each trading cycle, it triggers an off-chain high-performance computing cluster to solve a social welfare maximization model considering carbon emission costs, and calculates the marginal contribution payment for each winning bidder based on the VCG algorithm; 3) It submits the clearing results, including the winning bid list, cleared electricity volume, VCG payment, and unified marginal electricity / carbon price, to the on-chain consensus node for verification and notarization; 4) It ensures the immutability and finality of the clearing results in a distributed environment through a multi-round signature aggregation mechanism. This protocol makes genuine bidding the dominant strategy for all participants, effectively preventing market manipulation and strategic behavior. Figure 5 The main process of the market mechanism agreement is described.

[0038] The clearing and settlement protocol is responsible for the automated clearing of funds and asset delivery of transaction results. The protocol's main functions are as follows: 1) Based on market clearing results, the settlement contract automatically calculates the net receivables and payables of each participant and completes fund transfers through on-chain payment channels or digital currency contracts; 2) Simultaneously, it calls the asset token contract to mark the corresponding green electricity digital certificates as "verified" and destroy the corresponding number of carbon asset tokens; 3) It generates settlement certificates containing fund flows, asset status changes, and transaction hashes, which are persistently stored on the blockchain and off-chain databases; 4) It supports real-time querying of settlement details by regulatory nodes and monitors abnormal settlement behavior through a rules engine, implementing on-chain marking or delay processing for risky transactions. This protocol achieves closed-loop clearing of electricity, carbon, and funds through smart contracts, significantly improving settlement efficiency and reliability. Figure 6 The main process of the clearing and settlement agreement is described.

[0039] The specific execution steps of the electricity carbon collaborative trading system and method based on blockchain and VCG mechanism are as follows: The execution process of step 1 includes the following steps: Step 1.1: Deploy and optimize the Linux enterprise server, complete the kernel, network and resource configuration, and build a stable and efficient basic operating platform; Step 1.2: Deploy and configure a PostgreSQL relational database as an off-chain data management infrastructure to store and manage the following three types of data: basic user information and dynamic credit profiles, off-chain business details indexes associated with on-chain ledger records, and frequently generated transaction process logs and system audit trace records; Step 1.3: Establish an encrypted data channel between the database and the blockchain to achieve two-way verification and collaborative calling of off-chain details and on-chain evidence hashes, forming an integrated on-chain and off-chain data governance system; Step 1.4: Deploy the Hyperledger Fabric consortium blockchain network to build a trusted, collaborative infrastructure for multiple parties. This specifically includes: (1) Establish a network topology for sorting service nodes, peer nodes and certificate authorities to support power generation companies, electricity sales companies, power grids, regulators and other entities to run nodes as independent organizations; (2) Utilize the Fabric channel mechanism to create a dedicated channel for core electricity carbon trading data to ensure trading privacy; (3) Deploy a chaincode lifecycle management system to provide a standardized process for the installation, instantiation, and upgrade of subsequent smart contracts. This network serves as the underlying trusted ledger and automated contract execution engine for the entire trading platform.

[0040] The execution process of step 2 includes the following steps: Step 2.1: Deploy the "Decentralized Identifier Registry" smart contract (DIDRegistry) to create and maintain W3C-compliant DID identifiers for market participants, including enterprises, users, and energy devices. Each DID document is associated with a self-generated asymmetric encryption key pair. The public key is used for authentication and communication encryption, while the private key is securely kept by the holder and uses digital signatures to enable autonomous updates and attribute management of the DID document. Step 2.2: Deploy the "Verifiable Credential Registration and Verification" smart contract (VCRegistry) to register credential metadata, including credential hash, issuer DID, and credential status (valid / revoked), establishing an on-chain credential status registration center. Detailed credential data is stored off-chain by the holder, and a verification interface is provided for status query and verification. The main credential types include: (1) Green attributes and carbon emission reduction certificates: issued by qualified green electricity certification bodies. The certificate statement includes the carbon dioxide emission reduction equivalent corresponding to the unit power generation of a specific power generation equipment, such as "for every 1 megawatt-hour (MWh) of green electricity generated by this equipment and connected to the grid, it is equivalent to a reduction of 0.8 tons of CO2 emissions based on the regional grid benchmark emission factor", which constitutes the basis for the value conversion of electricity-carbon co-trading; (2) Market Entity Qualification Certificate: Issued by the energy regulatory authority. This certificate proves that the enterprise has completed the statutory procedures such as electricity business licensing and carbon market access verification, and is qualified to participate in the electricity carbon market. (3) Credible data source certificate: issued by the metering or power grid authority. It proves that the metering data of the designated electricity meter, sensor or data acquisition system has legal validity and can be used as a credible basis for transaction settlement and carbon accounting; Step 2.3: Controllable Verification and Disclosure of On-Chain Identity and Credentials. When market participants submit transactions or data on-chain, they must sign the content using a private key bound to their own DID and can selectively disclose relevant credentials depending on the scenario. During smart contract execution, the VCRegistry contract will be automatically invoked to verify the credential signature, issuer identity, and current status (valid / revoked) in real time, achieving automatic real-time verification of identity and attributes under a decentralized architecture.

[0041] The execution process of step 3 includes the following steps: Step 3.1: Deploy the "Green Electricity Digital Certificate" smart contract (GreenREC). This contract adopts the ERC-1155 multi-token standard or the ERC-3525 semi-fungible token standard to construct a divisible and composable digital certificate system. Each unit of certificate is denoted as G-REC, corresponding to the environmental rights of 1 MWh of green electricity produced by a specific power generation facility within a specific time frame. The rules for creating and binding the above certificates are as follows: (1) Certificate Minting Trigger: After the power generation data backed by the Trusted Data Source Certificate (VC) is verified on the blockchain, the smart contract automatically verifies the validity of the VC and mints an equivalent amount of G-REC to the corresponding enterprise wallet according to the verified power generation. (2) Environmental attribute binding: The metadata of each batch of G-REC uniquely records its source "green attribute certificate", including power generation equipment, geographical coordinates, power generation time interval, power generation technology type and verified carbon dioxide emission reduction factor, forming an unalterable and complete traceability chain; Step 3.2: Deploy the "Carbon Asset" smart contract to manage National Certified Emission Reductions (CCERs) or other forms of carbon emission allowances. This contract uses the ERC-721 non-fungible token standard or the ERC-1155 standard with batch attributes to ensure that each unit of carbon asset is uniquely identifiable and traceable. Each unit of carbon asset token represents "1 ton of CO2 equivalent emission reduction rights or carbon emission allowances." This step uses an on-chain mapping mechanism to map the CCERs or carbon allowances issued by the competent authority to on-chain tokens via digital signatures by the legal registration institution, and then transfers them to the holder's on-chain digital wallet, completing the on-chain uniqueness confirmation and initial allocation. Step 3.3: Deploy the "Electricity-Carbon Collaborative Settlement" logic module. This module can automatically execute collaborative operations for green electricity consumption and carbon emission reduction verification, realizing a closed-loop flow of electricity-carbon assets. The main operations are as follows: (1) Settlement trigger: When a user completes green electricity consumption, that is, when the corresponding G-REC is transferred or marked as "used", the electricity-carbon co-settlement process is automatically triggered; (2) Equity conversion and write-off: The smart contract calculates the corresponding carbon emission reduction equivalent based on the carbon emission reduction factor approved in the "green attribute certificate" bound to G-REC, and calls the "carbon asset" smart contract interface to destroy an equivalent amount of carbon asset tokens from the user's designated account, thus completing the on-chain clearing and settlement and the termination of ownership. (3) Closed-loop delivery and audit trail: After the asset write-off is completed, the system performs closed-loop and audit operations: 1) State synchronization and ownership closed loop A. Update the G-REC status to "verified" and prevent it from being transferred again; B. Write a reference link to the destroyed carbon asset token ID in the G-REC token metadata, and add an index hash pointing to the corresponding G-REC token in the carbon asset destruction record to achieve bidirectional association; 2) End-to-end audit tracking A. Encapsulate all key parameters in the above operation process, including G-REC status change, destruction receipt, emission reduction factor, participant address, timestamp, etc., into a "collaborative settlement event"; B. Write the event to the on-chain transaction log and generate a unique event hash; C. The event hash and complete data serve as audit anchors and are broadcast across the entire network. Regulators / auditors can obtain and verify the complete chain of evidence for the transaction in real time through a query interface, ensuring that the environmental rights of each unit of green electricity have been compliantly and uniquely converted and offset.

[0042] The execution process of step 4 includes the following steps: Step 4.1: Deploy the "Electricity-Carbon Collaborative Order Book" smart contract (OrderBook) to receive and manage standardized bidirectional orders. Each order includes: the submitter's DID, the electricity / carbon price quote, the transaction amount and time period, an on-chain reference to the attribute certificate, and the submitter's private key signature. After an order is submitted, the contract verifies the validity of the DID, the authenticity of the digital signature, and the legality of the associated attribute certificate. It then adds the order to the valid order pool for the current trading cycle and assigns a unique on-chain sequence number to each order, supporting full lifecycle tracking and auditing. Step 4.2: Deploy the core smart contract "VCG Auction and Clearing" (VCGAuctionClearing). This contract is automatically triggered at the end of each trading cycle, performing the following clearing calculations: (1) Order collection and verification: Read all valid orders in the current trading period from the "Electricity-Carbon Collaborative Order Book" contract and verify their status and the validity of the associated vouchers; (2) Clearing Model Construction and Solution: Based on the current cycle's buy and sell orders, an optimization model is constructed with the goal of maximizing social welfare. This model considers electricity utility, power generation cost, and the social cost of carbon emissions, and incorporates constraints such as power balance, network transmission, and total carbon emissions. Its specific components are as follows: , The settings for the above clearing model are explained below: 1) User Electricity efficiency: expressed as a quadratic function ,in It's about electricity consumption. Reflects users' basic valuation of electricity (in yuan) ), It is the coefficient of diminishing marginal utility, ensuring that utility increases with increasing electricity consumption but at a decreasing rate of increase. For user collection, For unit assembly; 2) Generator set Electricity generation cost: expressed as a quadratic function. ,in It was the thermal power plants that provided the power. , and The cost coefficient can be calibrated using historical operating data of the unit. The marginal cost of renewable energy units tends to zero and can be simplified to a constant or a linear function. 3) Carbon social cost item: Carbon social cost parameters This represents the marginal social damage (in yuan) caused by each ton of carbon dioxide emissions. Its value can be determined based on the range recommended in the Intergovernmental Panel on Climate Change (IPCC) report, or adjusted in conjunction with the recent average price in the domestic carbon market. Total system carbon emissions. The calculation is as follows: , in, For generator sets Dynamic carbon emission intensity ( Its value varies with the load factor of the thermal power unit (load factor = Dynamic changes can be fitted using data-driven artificial neural network models or quadratic functions: If the system is equipped with carbon capture and storage equipment, the carbon capture capacity will be [not specified]. It can be modeled as a function of the energy consumption of the capture process; The optimization model must satisfy the following constraints: 1) Power balance constraints. Ensure that the power generation and consumption of each node (or the entire network) maintain an instantaneous balance at each time period: , , in, For access nodes A collection of generator sets, For nodes The load set, It is a node For the line Power distribution factor of power flow Indicates the line The meritorious trend, Represents the total number of nodes; 2) Network security constraints. Prevent line overload and consider the "N-1 security" for anticipated failures: A. Normal operating status: , ; B. N-1 Fault Status: Assuming any single line Disconnect, remaining lines trend satisfaction ; C. Power Flow Calculation Model: In the DC power flow model, ;; 3) Carbon emission constraints. The total carbon emissions of the system will be controlled within the upper limit set by the government or the market. , Among them, the carbon emission cap Based on the total national carbon market quota, or combined with free allowances for generating units. Related. Quota allocation model reference: ,in As a benchmark for carbon emissions, This is the load factor correction factor; 4) Unit technical constraints: A. Upper and lower limits of output: ; B. Climbing constraint: ,in For generator sets Maximum climbing rate; C. Minimum start-stop time: Introducing a binary variable Indicates the unit During the period The start / stop state satisfies: , in, and These are the minimum continuous operating time and minimum downtime of the unit, respectively. The optimization model is solved on off-chain computing nodes or on-chain environments that support zero-knowledge proofs, and the optimal clearing results, including the winning status of each order, the winning electricity volume, and the total social welfare value of the system, are submitted back to the smart contract. (3) Execution of VCG Payment Calculation: To determine the final payment amount or remuneration due to the successful bidder, the contract executes a marginal contribution calculation process. For each successful bidder... : 1) Virtual Removal: Temporarily remove the winning bidder from the valid order set of the current trading period. All orders constitute "no participant" A subset of orders; 2) Resolve the optimization problem: Based on this subset of orders, resolve the social welfare maximization problem described in step 4.2 to obtain the solution of removing participants. The optimal total social welfare value ; 3) Calculate VCG payments: Participants Final payment Determined by the following formula: , in, For the optimal total social welfare including all participants For participants The payment amount reflects the participant's self-utility based on their bid and the volume of electricity won. The externalities of joining the market to other participants are numerically equal to the number of participants. The theoretical revenue derived from each bid is subtracted from the net increase in social welfare it brings to the market. This calculation process is repeated until all successful bidders have completed their payment calculations. (4) Clearing result release and status update: The contract writes the list of successful bidders, the electricity volume of each successful bidder, the VCG payment price, the unified marginal electricity price and carbon price, etc. as tamper-proof transaction records into the blockchain, and automatically updates the status of related certificates, such as marking G-REC as "cleared", synchronizing carbon asset ownership, and completing the synchronization of on-chain asset status. Step 4.3: Incentive Compatibility and Trusted End-to-End Evidence Storage. This VCG mechanism ensures that the actual price quotes represent the optimal strategy for all rational participants through mandatory transparent on-chain execution. Its main operations are as follows: (1) Incentive-compatible enforcement: The smart contract uses the clearing result and VCG payment price as the final immutable on-chain record. Based on the mathematical proof of incentive compatibility and code immutability, it makes the real declaration the optimal strategy and eliminates the motivation for strategy bidding. (2) Full-process trusted evidence storage: After the contract completes the clearing calculation, the clearing input hash, model parameters, intermediate states, clearing results, payment details and algorithm version, etc. are packaged together to generate an immutable clearing evidence package, which is permanently recorded on the blockchain, providing a traceable and independently verifiable audit basis for subsequent settlement, dispute arbitration and supervision.

[0043] The execution process of step 5 includes the following steps: Step 5.1: Deploy the "AutoSettlement" smart contract to automatically trigger irreversible on-chain clearing settlement and asset delivery after receiving the final clearing result. The main process is as follows: (1) Clearing of cash flow 1) Based on the VCG payment price and the transaction volume, automatically calculate the net amount of receivables and payables for each entity; 2) By integrating a digital payment module, automatically execute multilateral net cash transfers, including: A. The corresponding electricity and carbon charges will be deducted from the electricity purchaser's digital wallet; B. Pay the electricity fee to the electricity seller; C. Directly pay the carbon premium to the green electricity certificate provider or carbon asset holder; (2) Asset transfer: 1) After the funds are cleared, the GreenREC contract in step 3.1 and the CarbonAsset contract in step 3.2 will be automatically invoked; 2) Mark the G-REC consumed by the electricity purchaser as "written off" or perform a destruction operation to indicate that their environmental rights have been realized; 3) Based on the emission reduction factors tied to this batch of green electricity, destroy or transfer the corresponding number of carbon asset tokens to complete the carbon emission rights write-off; 4) The settlement contract generates a "Green Electricity Consumption and Carbon Emission Reduction Verification Certificate" containing transaction hashes, asset change records, and timestamps, which serves as an immutable on-chain certificate; Step 5.2: Deploy the "Trusted Data Oracle" smart contract and integrate a decentralized oracle to build a secure channel between physical data and on-chain contracts: (1) Trusted data anchoring: Trusted data sources such as calibrated electricity meters, power plant monitoring, and carbon verification are collected by a decentralized oracle network, and their hash values ​​are calculated in real time to prevent the risk of single-point data forgery; (2) On-chain hash storage: Oracle nodes submit the data hash value along with its digital signature and timestamp to the storage contract for on-chain storage. Only the hash value is stored to protect privacy, improve efficiency, and ensure that the data integrity is verifiable. (3) Data-driven business triggering: When the actual power generation / consumption data on the chain matches the winning bid electricity, or after the carbon verification report is on the chain, the contract automatically triggers settlement or asset delivery, realizing business automation based on trusted data; Step 5.3: Deploy a dedicated smart contract for "Regulation and Audit" (RegulatoryAudit) to provide regulatory agencies with a standardized on-chain regulatory entry point and audit capabilities: (1) Regulatory identity access: Issue dedicated DIDs and high-authority verifiable credentials to each regulatory agency to support their trusted access to the network and achieve traceable operation and auditable permissions; (2) Full-chain penetration audit query: The regulatory node retrieves full-dimensional information such as the entire network transaction, fund flow, green electricity and carbon asset full-cycle circulation trajectory, certificate status, physical data hash, etc. through a dedicated interface to achieve panoramic real-time supervision; (3) Compliance Engine and Real-time Early Warning: The regulatory contract has configurable compliance rules embedded in it, which can support setting thresholds for abnormal price fluctuations, identification of related transactions, and detection of abnormal settlement behavior. It continuously monitors on-chain activities, and provides real-time encrypted alerts for behaviors that trigger the rules and pushes them to the regulatory terminal. It supports in-process intervention and risk marking, and improves regulatory response and risk control capabilities.

[0044] In summary, the present invention has the following beneficial effects: (1) Achieve deep integration of electricity carbon market mechanism. Through the collaborative design of blockchain and VCG mechanism, a unified market framework for electricity trading and carbon asset transfer is constructed, and carbon emission costs are accurately internalized into marginal price signals for electricity trading, promoting the overall optimal allocation of electricity resources and carbon emission resources, and solving the problems of efficiency loss and insufficient coordination caused by the fragmentation of traditional market mechanism.

[0045] (2) Construct a trustworthy, efficient, and transparent asset digitization and transfer system. Utilize blockchain technology to achieve trustworthy digitization of green electricity environmental rights and carbon emission reductions across the entire chain, support the accurate matching and automated verification of "one electricity, one certificate, one carbon", effectively prevent duplicate measurement and duplicate consumption, and improve the transparency, traceability, and transaction efficiency of environmental rights transfer.

[0046] (3) Establish an incentive-compatible, fair and efficient market clearing mechanism. Introduce the VCG mechanism to guide market participants to truthfully declare costs and preferences through marginal contribution pricing, suppress strategic bidding and market manipulation, and ensure the fairness and economic efficiency of resource allocation while improving social welfare.

[0047] (4) Enhance regulatory penetration and real-time risk control capabilities. Based on distributed ledger technology, realize the on-chain storage and real-time sharing of transaction data, entity identity, and asset transfer throughout the entire process, support regulatory authorities to conduct penetrating and verifiable collaborative supervision of multiple markets such as electricity, carbon, and finance, and improve the ability to identify, warn, and deal with violations and new risks.

[0048] (5) Support high-frequency, automated collaborative settlement. Through smart contracts, the automatic synchronous execution of electricity trading and carbon asset write-off is realized, supporting the "trading as settlement" model, which greatly reduces the cost of manual reconciliation and cross-system coordination, adapts to the high-frequency, real-time electricity carbon market trading needs, and improves the overall market liquidity.

[0049] (6) Promote mutual recognition of identities and trusted data sharing. Establish a cross-institutional identity mutual recognition mechanism based on a decentralized identity system, and combine verifiable credentials to realize trusted collection and cross-verification of multi-party data, reduce the mutual trust cost of participants, and provide a trusted infrastructure for cross-market data integration and collaborative governance.

[0050] The above description discloses only one preferred embodiment of the present invention, and should not be construed as limiting the scope of the present invention. Those skilled in the art will understand that all or part of the processes of the above embodiments can be implemented, and equivalent changes made in accordance with the claims of the present invention are still within the scope of the invention.

Claims

1. A collaborative trading system and method for electricity and carbon based on blockchain and VCG mechanisms, characterized in that, Includes the following steps: Step 1: Deploy the infrastructure and blockchain framework for the electricity carbon collaborative trading platform; Step 2: Construct a market entity identity and asset access system based on decentralized identifiers and verifiable credentials; Step 3: Digitally map and manage green electricity environmental rights and carbon emission reductions through standardized token protocols; Step 4: Realize market clearing and settlement for electricity-carbon co-existence based on the VCG mechanism; Step 5: Achieve automated transaction settlement, trusted data storage, and transparent regulatory auditing.

2. The electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism as described in claim 1, characterized in that, Step 1.1: Deploy and optimize the Linux enterprise server, complete the kernel, network and resource configuration, and build a stable and efficient basic operating platform; Step 1.2: Deploy and configure a PostgreSQL relational database as an off-chain data management infrastructure to store and manage the following three types of data: basic user information and dynamic credit profiles, off-chain business details indexes associated with on-chain ledger records, and frequently generated transaction process logs and system audit trace records; Step 1.3: Establish an encrypted data channel between the database and the blockchain to achieve two-way verification and collaborative calling of off-chain details and on-chain evidence hashes, forming an integrated on-chain and off-chain data governance system; Step 1.4: Deploy the Hyperledger Fabric consortium blockchain network to build a trusted, collaborative infrastructure for multiple parties. This specifically includes: (1) Establish a network topology for sorting service nodes, peer nodes and certificate authorities to support power generation companies, electricity sales companies, power grids, regulators and other entities to run nodes as independent organizations; (2) Utilize the Fabric channel mechanism to create a dedicated channel for core electricity carbon trading data to ensure trading privacy; (3) Deploy a chaincode lifecycle management system to provide a standardized process for the installation, instantiation, and upgrade of subsequent smart contracts. This network serves as the underlying trusted ledger and automated contract execution engine for the entire trading platform.

3. The electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism as described in claim 2, characterized in that, Step 2.1: Deploy the "Decentralized Identifier Registry" smart contract (DIDRegistry) to create and maintain W3C-compliant DID identifiers for market participants, including enterprises, users, and energy devices. Each DID document is associated with a self-generated asymmetric encryption key pair. The public key is used for authentication and communication encryption, while the private key is securely kept by the holder and uses digital signatures to enable autonomous updates and attribute management of the DID document. Step 2.2: Deploy the "Verifiable Credential Registration and Verification" smart contract (VCRegistry) to register credential metadata, including credential hash, issuer DID, and credential status (valid / revoked), establishing an on-chain credential status registration center. Detailed credential data is stored off-chain by the holder, and a verification interface is provided for status query and verification. The main credential types include: (1) Green attributes and carbon emission reduction certificates: issued by qualified green electricity certification bodies. The certificate statement includes the carbon dioxide emission reduction equivalent corresponding to the unit power generation of a specific power generation equipment, such as "for every 1 megawatt-hour (MWh) of green electricity generated by this equipment and connected to the grid, it is equivalent to a reduction of 0.8 tons of CO2 emissions based on the regional grid benchmark emission factor", which constitutes the basis for the value conversion of electricity-carbon collaborative trading; (2) Market Entity Qualification Certificate: Issued by the energy regulatory authority. This certificate proves that the enterprise has completed the statutory procedures such as electricity business licensing and carbon market access verification, and is qualified to participate in the electricity carbon market. (3) Credible data source certificate: issued by the metering or power grid authority. It proves that the metering data of the designated electricity meter, sensor or data acquisition system has legal validity and can be used as a credible basis for transaction settlement and carbon accounting; Step 2.3: Controllable Verification and Disclosure of On-Chain Identity and Credentials. When market participants submit transactions or data on-chain, they must sign the content using a private key bound to their own DID and can selectively disclose relevant credentials depending on the scenario. During smart contract execution, the VCRegistry contract will be automatically invoked to verify the credential signature, issuer identity, and current status (valid / revoked) in real time, achieving automatic real-time verification of identity and attributes under a decentralized architecture.

4. The electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism as described in claim 3, characterized in that, Step 3.1: Deploy the "Green Electricity Digital Certificate" smart contract (GreenREC). This contract uses the ERC-1155 multi-token standard or the ERC-3525 semi-fungible token standard to construct a divisible and composable digital certificate system. Each unit of certificate is denoted as G-REC, corresponding to the environmental rights of 1 MWh of green electricity produced by a specific power generation facility within a specific time frame. The rules for creating and binding the above certificates are as follows: (1) Certificate Minting Trigger: After the power generation data backed by the Trusted Data Source Certificate (VC) is verified on the blockchain, the smart contract automatically verifies the validity of the VC and mints an equivalent amount of G-REC to the corresponding enterprise wallet according to the verified power generation. (2) Environmental attribute binding: The metadata of each batch of G-REC uniquely records its source "green attribute certificate", including power generation equipment, geographical coordinates, power generation time interval, power generation technology type and verified carbon dioxide emission reduction factor, forming an immutable and complete traceability chain; Step 3.2: Deploy the "Carbon Asset" smart contract to manage National Certified Emission Reductions (CCERs) or other forms of carbon emission allowances. This contract uses the ERC-721 non-fungible token standard or the ERC-1155 standard with batch attributes to ensure that each carbon asset is uniquely identifiable and traceable. Each carbon asset token represents "1 ton of CO2 equivalent emission reduction rights or carbon emission allowances." This step uses an on-chain mapping mechanism to map the CCERs or carbon allowances issued by the competent authority to on-chain tokens via digital signatures by the legal registration institution, and then transfers them to the holder's on-chain digital wallet, completing the on-chain uniqueness confirmation and initial allocation. Step 3.3: Deploy the "Electricity-Carbon Collaborative Settlement" logic module. This module can automatically execute collaborative operations for green electricity consumption and carbon emission reduction verification, realizing a closed-loop circulation of electricity-carbon assets. The main operations are as follows: (1) Settlement trigger: When a user completes green electricity consumption, that is, when the corresponding G-REC is transferred or marked as "used", the electricity-carbon co-settlement process is automatically triggered; (2) Equity conversion and write-off: The smart contract calculates the corresponding carbon emission reduction equivalent based on the carbon emission reduction factor approved in the "green attribute certificate" bound to G-REC, and calls the "carbon asset" smart contract interface to destroy an equal amount of carbon asset tokens from the user's designated account, thus completing the on-chain clearing and settlement and the termination of ownership. (3) Closed-loop delivery and audit trail: After the asset write-off is completed, the system performs closed-loop and audit operations: 1) State synchronization and ownership closed loop A. Update the G-REC status to "verified" and prevent it from being transferred again; B. Write a reference link to the destroyed carbon asset token ID in the G-REC token metadata, and add an index hash pointing to the corresponding G-REC token in the carbon asset destruction record to achieve bidirectional association; 2) End-to-end audit tracking A. Encapsulate all key parameters in the above operation process, including G-REC status change, destruction receipt, emission reduction factor, participant address, timestamp, etc., into a "collaborative settlement event"; B. Write the event to the on-chain transaction log and generate a unique event hash; C. The event hash and complete data serve as audit anchors and are broadcast across the entire network. Regulators / auditors can obtain and verify the complete chain of evidence for the transaction in real time through a query interface, ensuring that the environmental rights of each unit of green electricity have been compliantly and uniquely converted and offset.

5. The electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism as described in claim 4, characterized in that, Step 4.1: Deploy the "Electricity-Carbon Collaborative Order Book" smart contract (OrderBook) to receive and manage standardized two-way orders. Each order includes: the submitter's DID, the electricity / carbon price quote, the transaction amount and time period, an on-chain reference to the attribute certificate, and the submitter's private key signature. After an order is submitted, the contract verifies the validity of the DID, the authenticity of the digital signature, and the legality of the associated attribute certificate. It then adds the order to the valid order pool for the current trading cycle and assigns a unique on-chain sequence number to each order, supporting full lifecycle tracking and auditing. Step 4.2: Deploy the core smart contract "VCG Auction and Clearing" (VCGAuctionClearing). This contract is automatically triggered at the end of each trading cycle, performing the following clearing calculations: (1) Order collection and verification: Read all valid orders in the current trading period from the "Electricity-Carbon Collaborative Order Book" contract and verify their status and the validity of associated vouchers; (2) Clearing Model Construction and Solution: Based on the current cycle's buy and sell orders, an optimization model is constructed with the goal of maximizing social welfare. This model considers electricity utility, power generation cost, and the social cost of carbon emissions, and incorporates constraints such as power balance, network transmission, and total carbon emissions. Its specific components are as follows: ， The settings for the above clearing model are explained below: 1) User Electricity efficiency: expressed as a quadratic function ,in It's about electricity consumption. Reflects users' basic valuation of electricity (in yuan) ), It is the coefficient of diminishing marginal utility, ensuring that utility increases with increasing electricity consumption but at a decreasing rate of increase. For user collection, For unit assembly; 2) Generator set Electricity generation cost: expressed as a quadratic function. ,in It was the thermal power plants that provided the power. , and The cost coefficient can be calibrated using historical operating data of the unit. The marginal cost of renewable energy units tends to zero and can be simplified to a constant or a linear function. 3) Carbon social cost item: Carbon social cost parameters This represents the marginal social damage (in yuan) caused by each ton of carbon dioxide emissions. Its value can be determined based on the range recommended in the Intergovernmental Panel on Climate Change (IPCC) report, or adjusted in conjunction with the recent average price in the domestic carbon market. Total system carbon emissions. The calculation is as follows: ， in, For generator sets Dynamic carbon emission intensity ( Its value varies with the load factor of the thermal power unit (load factor = Dynamic changes can be fitted using data-driven artificial neural network models or quadratic functions: If the system is equipped with carbon capture and storage equipment, the carbon capture capacity will be [not specified]. It can be modeled as a function of the energy consumption of the capture process; The optimization model must satisfy the following constraints: 1) Power balance constraints. Ensure that the power generation and consumption of each node (or the entire network) maintain an instantaneous balance at each time period: ， ， in, For access nodes A collection of generator sets, For nodes The load set, It is a node For the line Power distribution factor of power flow Indicates the line The meritorious trend, Represents the total number of nodes; 2) Network security constraints. Prevent line overload and consider "N-1 security" for anticipated failures: A. Normal operating status: , ; B. N-1 Fault Status: Assuming any single line Disconnect, remaining lines trend satisfaction ; C. Power Flow Calculation Model: In the DC power flow model, ;; 3) Carbon emission constraints. The total carbon emissions of the system will be controlled within the upper limit set by the government or the market. ， Among them, the carbon emission cap Based on the total national carbon market quota, or combined with free allowances for generating units. Related. Quota allocation model reference: ,in As a benchmark for carbon emissions, This is the load factor correction factor; 4) Unit technical constraints: A. Output upper and lower limits: ; B. Climbing constraint: ,in For generator sets Maximum climbing rate; C. Minimum start-stop time: Introducing a binary variable Indicates the unit During the period The start / stop state satisfies: ， in, and These are the minimum continuous operating time and minimum downtime of the unit, respectively. The optimization model is solved on off-chain computing nodes or on-chain environments that support zero-knowledge proofs, and the optimal clearing results, including the winning status of each order, the winning electricity volume, and the total social welfare value of the system, are submitted back to the smart contract. (3) Execution of VCG Payment Calculation: To determine the final payment amount or remuneration due to the successful bidder, the contract executes a marginal contribution calculation process. For each successful bidder... : 1) Virtual Removal: Temporarily remove the winning bidder from the valid order set of the current trading period. All orders constitute "no participant" A subset of orders; 2) Resolve the optimization problem: Based on this subset of orders, resolve the social welfare maximization problem described in step 4.2 to obtain the solution of removing participants. The optimal total social welfare value ; 3) Calculate VCG payments: Participants Final payment Determined by the following formula: ， in, For the optimal total social welfare including all participants For participants The payment amount reflects the participant's self-utility based on their bid and the volume of electricity won. The externalities of joining the market to other participants are numerically equal to the number of participants. The theoretical revenue derived from each bid is subtracted from the net increase in social welfare it brings to the market. This calculation process is repeated until all successful bidders have completed their payment calculations. (4) Release of clearing results and status update: The contract writes the list of successful bidders, the electricity volume of each successful bidder, the VCG payment price, the unified marginal electricity price and carbon price, etc. as tamper-proof transaction records into the blockchain, and automatically updates the status of associated certificates, such as marking G-REC as "cleared", synchronizing carbon asset ownership, and completing the synchronization of on-chain asset status. Step 4.3: Incentive Compatibility and Trusted End-to-End Evidence Storage. This VCG mechanism ensures that the actual price quotes represent the optimal strategy for all rational participants through mandatory transparent on-chain execution. Its main operations are as follows: (1) Incentive-compatible enforcement: The smart contract uses the clearing result and VCG payment price as the final immutable on-chain record. Based on the mathematical proof of incentive compatibility and code immutability, it makes the real declaration the optimal strategy and eliminates the motivation for strategy bidding. (2) Full-process trusted evidence storage: After the contract completes the clearing calculation, the clearing input hash, model parameters, intermediate states, clearing results, payment details and algorithm version, etc. are packaged together to generate an immutable clearing evidence package, which is permanently recorded on the blockchain, providing a traceable and independently verifiable audit basis for subsequent settlement, dispute arbitration and supervision.

6. The electricity-carbon collaborative trading system and method based on blockchain and VCG mechanism as described in claim 5, characterized in that, Step 5.1: Deploy the "AutoSettlement" smart contract to automatically trigger irreversible on-chain clearing settlement and asset delivery after receiving the final clearing result. The main process is as follows: (1) Clearing of cash flow 1) Based on the VCG payment price and the transaction volume, automatically calculate the net amount of receivables and payables for each entity; 2) By integrating a digital payment module, automatically execute multilateral net cash transfers, including: A. The corresponding electricity and carbon charges will be deducted from the electricity purchaser's digital wallet; B. Pay the electricity fee to the electricity seller; C. Directly pay the carbon premium to the green electricity certificate provider or carbon asset holder; (2) Asset transfer: 1) After the funds are cleared, the GreenREC contract in step 3.1 and the CarbonAsset contract in step 3.2 will be automatically invoked; 2) Mark the G-REC consumed by the electricity purchaser as "verified" or perform a destruction operation to indicate that their environmental rights have been realized; 3) Based on the emission reduction factors tied to this batch of green electricity, destroy or transfer the corresponding number of carbon asset tokens to complete the carbon emission rights write-off; 4) The settlement contract generates a "Green Electricity Consumption and Carbon Emission Reduction Verification Certificate" containing transaction hashes, asset change records, and timestamps, which serves as an immutable on-chain certificate; Step 5.2: Deploy the "Trusted Data Oracle" smart contract and integrate a decentralized oracle to build a secure channel between physical data and on-chain contracts: (1) Trusted data anchoring: Trusted data sources such as calibrated electricity meters, power plant monitoring, and carbon verification are collected by a decentralized oracle network, and their hash values ​​are calculated in real time to prevent the risk of single-point data forgery; (2) On-chain hash storage: Oracle nodes submit the data hash value along with its digital signature and timestamp to the storage contract for on-chain storage. Only the hash value is stored to protect privacy, improve efficiency, and ensure that the data integrity is verifiable. (3) Data-driven business triggering: When the actual power generation / consumption data on the chain matches the winning bid electricity, or after the carbon verification report is on the chain, the contract automatically triggers settlement or asset delivery, realizing business automation based on trusted data; Step 5.3: Deploy a dedicated smart contract for "Regulation and Audit" (RegulatoryAudit) to provide regulatory agencies with a standardized on-chain regulatory entry point and audit capabilities: (1) Regulatory identity access: Issue dedicated DIDs and high-authority verifiable credentials to each regulatory agency to support their trusted access to the network and achieve traceable operation and auditable permissions; (2) Full-chain penetration audit query: The regulatory node retrieves full-dimensional information such as the entire network transaction, fund flow, green electricity and carbon asset full-cycle circulation trajectory, certificate status, physical data hash, etc. through a dedicated interface to achieve panoramic real-time supervision; (3) Compliance Engine and Real-time Early Warning: The regulatory contract has configurable compliance rules embedded in it, which can support setting thresholds for abnormal price fluctuations, identification of related transactions, and detection of abnormal settlement behavior. It continuously monitors on-chain activities, and provides real-time encrypted alerts for behaviors that trigger the rules and pushes them to the regulatory terminal. It supports in-process intervention and risk marking, and improves regulatory response and risk control capabilities.

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