Blockchain is the underlying technology for cryptocurrencies. Reliable machine-to-machine automatic transactions, such as auctions, bidding, and payments, utilise the immense potential of blockchain technology. Researchers are exploring blockchain-based applications for automobiles and transportation, such as electric vehicle (EV) charging and highway user fee payment. The use of blockchain eliminates the need for third parties in transactions. This paper presents a proof of concept for using EVs as energy storage in a smart grid system. Generators, consumers, and distributed energy resources (DER), such as solar and wind, make up the elements of a smart grid. We propose storing the surplus power generated by DER in the electric vehicle's battery. When the generation is less, or there is high demand, these EVs can supply the stored energy back to the grid. We use blockchain smart contracts and Ethereum cryptocurrency to monitor and monetise the process. We also make a cost comparison of conventional internal combustion engine (ICE) vehicles and EVs, analysing the financial benefits of employing the suggested method in EV charging instead of more conventional charging methods.