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This article explores the potential of leveraging blockchain technology to facilitate energy transition within urban settings. It explores three innovative market models—peer-to-peer, community self-consumption, and transactive energy—which hold promise for a shift in (local) electricity trading due to decentralized and digital transactional characteristics. Utilizing a scenario building framework, this research scrutinizes these market models, their corresponding trading mechanisms, and the advantages and disadvantages of implementing blockchain technology. The results provide valuable insights into investment necessities, market democratization, service quality and reliability, urban governance, civic engagement and citizenry welfare. Consequently, this study offers a novel conceptualization of market models, laying the groundwork for a systematic understanding of blockchain’s potentiality in ecosystem governance in the context of energy transition.