Powered by blockchain: forecasting blockchain use in the electricity market

2020 ◽  
Vol 14 (6) ◽  
pp. 1221-1238 ◽  
Author(s):  
Stefan Höhne ◽  
Victor Tiberius
Keyword(s):  
Electricity Market ◽  
Delphi Study ◽  
Energy Sector ◽  
Electricity Sector ◽  
Future Scenario ◽  
Content Type ◽  
Market Participants ◽  
Blockchain Technology ◽  
Regulatory Frameworks ◽  
Research Gap

Purpose The purpose of this study is to formulate the most probable future scenario for the use of blockchain technology within the next 5–10 years in the electricity sector based on today’s experts’ views. Design/methodology/approach An international, two-stage Delphi study with 20 projections is used. Findings According to the experts, blockchain applications will be primarily based on permissioned or consortium blockchains. Blockchain-based applications will integrate Internet of Things devices in the power grid, manage the e-mobility infrastructure, automate billing and direct payment and issue certificates regarding the origin of electricity. Blockchain solutions are expected to play an important big role in fostering peer-to-peer trading in microgrids, further democratizing and decentralizing the energy sector. New regulatory frameworks become necessary. Research limitations/implications The Delphi study’s scope is rather broad than narrow and detailed. Further studies should focus on partial scenarios. Practical implications Electricity market participants should build blockchain-based competences and collaborate in current pilot projects. Social implications Blockchain technology will further decentralize the energy sector and probably reduce transaction costs. Originality/value Despite the assumed importance of blockchain technology, no coherent foresight study on its use and implications exists yet. This study closes this research gap.

scholarly journals Application possibilities of blockchain technology in the energy sector

2020 ◽  
Vol 154 ◽  
pp. 07003
Author(s):  
Anna Zielińska
Keyword(s):  
Electricity Market ◽  
Energy Sector ◽  
Power Engineering ◽  
Blockchain Technology ◽  
Block Chain ◽  
Data Register

Blockchain is a block chain technology that makes it possible to send and store information in a distributed way, creating a decentralized data register. The article presents the applications of blockchain technology in the field of power engineering, among others for use in the area of settlements on the electricity market. The work shows the possibilities of using and using block chains to describe the purchase and sale, generation and management of electricity. The work describes aspects of technology that allow partial or complete decentralization of the process. The article also shows how such transactions could be carried out automatically and without supervision - giving certainty of pre-established rules, rules and assumptions.

Responding to NAMAs and preparing for INDCs/NDCs

2017 ◽  
Vol 9 (1) ◽  
pp. 2-20
Author(s):  
Jui-Chu Lin ◽  
Wei-Ming Chen ◽  
Ding-Jang Chen
Keyword(s):  
Electricity Market ◽  
Ghg Emissions ◽  
Electricity Sector ◽  
Carbon Trading ◽  
Low Carbon ◽  
Content Type ◽  
Carbon Reduction ◽  
Ghg Reduction ◽  
Nationally Determined Contributions ◽  
Trading Scheme

Purpose In this paper, the international progress of Nationally Appropriate Mitigation Actions (NAMAs), Intended Nationally Determined Contributions (INDCs), and Nationally Determined Contributions (NDCs) under the United Nations Framework Convention on Climate Change are reviewed. The content of Taiwan’s NAMAs and INDCs are also investigated, especially with reference to actions for the electricity sector. To better understand the greenhouse gas (GHG) reduction contribution from the electricity sector, this paper aims to examine challenges and solutions for implementing a carbon trading mechanism in Taiwan’s monopolistic electricity market under the newly passed Greenhouse Gases Emissions Reduction and Management Act (GHG ERMA). Design/methodology/approach Carbon reduction strategies for the electricity sector are discussed by examining and explaining Taiwan’s official documents and the law of GHG ERMA. Findings This study finds that market mechanisms should be utilized to allocate appropriate costs and incentives for GHG reductions to transform Taiwan into a low-carbon society. Originality/value This study identifies strategies for the electricity sector to reduce GHG emissions, especially the operation of a carbon-trading scheme under a non-liberalized electricity market.

scholarly journals Toward Blockchain Technology in the Energy Environment

2021 ◽  
Vol 13 (16) ◽  
pp. 9008
Author(s):  
Yahia Baashar ◽  
Gamal Alkawsi ◽  
Ammar Ahmed Alkahtani ◽  
Wahidah Hashim ◽  
Rina Azlin Razali ◽  
...  
Keyword(s):  
Developmental Stages ◽  
Energy Sector ◽  
The Body ◽  
Electricity Sector ◽  
Security And Privacy ◽  
Innovative Technology ◽  
Research Gaps ◽  
Customer Data ◽  
Privacy Concerns ◽  
Blockchain Technology

Energy management and exchange have increasingly shifted from concentrated to hierarchical modes. Numerous issues have arisen in the decentralized energy sector, including the storage of customer data and the need to ensure data integrity, fairness, and accountability in the transaction phase. The problem is that in the field of the innovative technology of blockchain and its applications, with the energy sector still in the developmental stages, there is still a need for more research to understand the full capacity of the technology in the field. The main aim of this work was to investigate the state of the current research of blockchain technologies as well as their application within the field of energy. This work also set out to identify certain research gaps and provide a set of recommendations for future directions. Among these research gaps is the application of blockchain in decentralized storage, the integration of blockchain with artificial intelligence, and security and privacy concerns, which have not received much attention despite their importance. An analysis of fifty-seven carefully reviewed studies revealed that the emerging blockchain which provides privacy-protection technologies in cryptography and other areas that can be integrated to address users’ privacy concerns is another aspect that needs further investigation. Grid operations, economies, and customers will all learn from blockchain technology as it provides disintermediation, confidentiality, and tamper-proof transfers. Moreover, it provides innovative ways for customers and small solar generators to participate more actively in the electricity sector and to benefit from their properties. Blockchains are a rapidly evolving field of research and growth. A study of this emerging technology is necessary to increase comprehension, to educate the body of expertise on blockchains, and to realize its potential. This study recommends that future work investigates the potential application of blockchain in the energy sector as well as the challenges that face its implementation from the perspective of policy makers. This future approach will enable researchers to direct their focus to the case studies approach, which will facilitate and ease the application of blockchain technology.

scholarly journals Crypto assets regulation in the UK: an assessment of the regulatory effectiveness and consistency

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sherena Sheng Huang
Keyword(s):  
Regulatory System ◽  
Court Case ◽  
Content Type ◽  
Regulatory Scheme ◽  
Regulatory Guidance ◽  
Market Participants ◽  
Legal Provisions ◽  
Regulatory Frameworks ◽  
The Uk ◽  
The Eu

Purpose The UK authority published its first regulatory guidance on crypto-assets in July 2019. This paper aims to critically evaluate the effectiveness of the crypto-asset regulation in the UK and the consistency of the existing regulatory scheme. Design/methodology/approach This paper adopts comparative methods to carry out the analysis. The paper begins by elaborating the development of crypto-assets alongside the financial innovation in the world and pinpointing the core Acts and Regulations applied to crypto-assets in the UK. The paper also discusses a court case in the EU to highlight an argument among legal professions concerning crypto-assets classification. Findings Through carefully analysing relevant primary and secondary legislation of the UK and EU, this paper identifies some unclarified issues in the regulatory framework and discovers three flaws in the regulatory system. The paper concludes that the effectiveness of the current regulatory scheme is poor and room for improvement exists. Originality/value The paper provides the first review and a thorough analysis of the Laws and Acts applied to the crypto-asset regulation in the UK. It also calls on a simpler and clearer regulatory scheme from the perspectives of market participants and consumers. The discovered issues in the crypto-asset regulation in the UK may urge authorities to improve the existing regulatory frameworks and legal provisions.

Blockchain and corporate fraud

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hugo Benedetti ◽  
Ehsan Nikbakht ◽  
Sayan Sarkar ◽  
Andrew Craig Spieler
Keyword(s):  
Financial Reporting ◽  
Financial Integration ◽  
Value Added ◽  
Information Storage ◽  
Organizational Level ◽  
Corporate Fraud ◽  
Content Type ◽  
Market Participants ◽  
Blockchain Technology ◽  
Flow Information

Purpose The purpose of this paper is to develop conceptual designs for blockchain implementations aimed at reducing corporate fraud. The proposed framework consists of different levels of implementation with specific examples for each level. Design/methodology/approach The paper uses a multi-level framework to highlight the properties of blockchain technology as suitable for reducing corporate fraud. The five levels of technological complexity designed for this research include information storage, information flow, information processing, information enhancement and information and financial integration. Specific cases of corporate fraud are discussed to complement the proposed methodology. Findings The potential ability to limit fraud and increase transparency could greatly improve faith in financial reporting. These benefits accrue to all capital market participants. The blockchain infrastructure can significantly improve the existing monitoring system and provide value added in detecting, deterring, and documenting possible fraud. Originality/value The paper contributes to the growing field on corporate fraud and blockchain technology. The paper is novel in the implementation of the nascent blockchain methods to detect and deter fraud at the organizational level. The proposed five conceptual levels provide practical use.

Understanding regulatory trends: digital assets & anti-Money laundering

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Katherine Kirkptrick ◽  
Aaron Stevens ◽  
Jacob Gerber ◽  
Margaret Nettesheim ◽  
Sebastian Bellm
Keyword(s):  
Money Laundering ◽  
Content Type ◽  
Global Regulators ◽  
Market Participants ◽  
Regulatory Frameworks ◽  
Investment Opportunities ◽  
Digital Asset ◽  
Practical Implications ◽  
Regulatory Landscape ◽  
Digital Assets

Purpose To evaluate the global anti-money laundering regulation of digital assets and cryptocurrencies. Design/methodology/approach This article provides an analysis of macro trends in digital asset money laundering regulation and explores the regulatory frameworks in some of the leading international crypto markets. Findings As the popularity and public adoption of digital assets have grown, global regulators have turned their attention to the risks of anti-money laundering. Monitoring the evolving international regulatory landscape is essential for organizations looking to successfully take advantage of digital asset-related investment opportunities. Practical implications Market participants should understand all applicable laws and procedures before they decide to enter the digital asset market. These considerations can become even more complex as businesses interact with multiple international regulators. Originality/value This article is designed to help investors understand the global anti-money laundering regulatory landscape regarding digital assets, particularly for those institutions interested in diversifying with crypto-related investment opportunities.

Blockchain in general management and economics: a systematic literature review

2020 ◽  
Vol 32 (4) ◽  
pp. 765-783
Author(s):  
Rami Alkhudary ◽  
Xavier Brusset ◽  
Pierre Fenies
Keyword(s):  
Literature Review ◽  
Supply Chains ◽  
Systematic Literature Review ◽  
Future Research ◽  
Academic Journals ◽  
Content Type ◽  
Inaccurate Information ◽  
General Management ◽  
Blockchain Technology ◽  
Regulatory Frameworks

Purpose This paper aims to provide a systematic review of the literature addressing blockchain technology (BT) in general management and economics (GME). Design/methodology/approach A systematic literature review methodology is used to collect and analyze the literature. Findings Three clusters of research are identified, namely, law, economy and innovation. The use of BT in law areas fosters the registration of intellectual property (IP) rights, although conflict between some of BT applications and regulatory frameworks is present. Research on cryptocurrencies is of high interest to the economy today. In the innovation cluster, BT improves security, traceability and transparency in operations over supply chains. However, BT has many technical imperfections that hinder its wide adoption. Furthermore, the need for the full commitment of all business actors complicates its implementation. Research on BT is still at a nascent stage. Conceptual papers dominate the literature (18 theories are discussed). Eight main future research directions are described. For example, the relationship between the use of BT in supply chains and competitive advantage is not established; and quality standards for BT platforms are not developed. Research limitations/implications The review is restricted to academic journals in the fields of GME, which limits the extent of the conclusions. Originality/value The paper synthesizes 47 studies published in academic journals, avoiding misleading claims and inaccurate information insofar as possible; and provides a spectrum of descriptive statistics and qualitative meta-synthesis analysis of the current literature.

scholarly journals Electricity Sector Reforms in Bosnia and Herzegovina: Results and Policy Implications

2017 ◽  
Vol 3 (4) ◽  
pp. 46-57
Author(s):  
Nela Vlahinić Lenz ◽  
Vedran Prša
Keyword(s):  
Bosnia And Herzegovina ◽  
Electricity Market ◽  
Energy Sector ◽  
Electricity Sector ◽  
Policy Implications ◽  
The European Union ◽  
Southeast Europe ◽  
The Third ◽  
Energy Community ◽  
Energy Package

Analysis shows that electricity sector reforms in Bosnia and Herzegovina have not been implemented as they should according to the Third Energy Package and obligations deriving from the Energy Community membership. Despite the sanctions and infringement procedures for non-transposition of the Third Energy Package that has been adopted against Bosnia and Herzegovina, its legal and regulatory framework for the electricity market is still non-compliant with the Energy Community acquis. Legal framework harmonization with the Acquis communaitaire is completely missing on the state level in Bosnia and Herzegovina while the legal compliance with the Acquis is somewhat better on entity levels. Still, they do not comply with the Third Energy Package as well and this situation strongly hinders the required structural reforms and liberalization of the electricity market. Development of electricity market in Bosnia and Herzegovina has been also influenced by regional electricity market that started by European Union’s incentive. Extending the European Union internal energy market to its neighboring countries, the Energy Community aims to create a regulatory and market framework capable of securing reliable energy supply and attracting investments in the energy sector. All Contracting Parties from Southeast Europe started to implement reforms in the energy sector at a different pace, but Bosnia and Herzegovina has been marked as the worst performer. It is not wondering because Bosnia and Herzegovina is a victim of its own constitutional framework and political complexity. However, during 2016 some new developments have occurred that give some hope for this country to solve some of the obstacles for functioning national and regional electricity market.

scholarly journals Use of Blockchain Technology in Energy Banking and Electricity Markets

2021 ◽  
Vol 2 (3) ◽  
pp. 179-186
Author(s):  
S. K. Jain ◽  
Paresh Khandelwal ◽  
P. K. Agarwal
Keyword(s):  
Real Time ◽  
Electricity Markets ◽  
Electricity Market ◽  
Electric Energy ◽  
Third Party ◽  
Over The Counter ◽  
Market Participants ◽  
Blockchain Technology ◽  
Power Exchange ◽  
The Cost

The power system reforms worldwide have commoditized electric energy and thus the electricity market has been developed. With this, trading of electric energy takes place in various time-domain like the day ahead, real-time, etc. These transactions take place through over the counter (OTC) or Power Exchange (Px) which provide to the market participants the required platform and payment security. The transactions on OTC and Px requires a third-party platform and guarantee for contract & settlement, there incurs overhead cost. Since electric energy is a fungible commodity, it can be transacted very well with the old system like barter. Energy Banking is one such mechanism wherein one utility supplies the energy to another utility that need it more and in leisure, the energy can then be provided back. The requisite security of the transactions can be provided by blockchain technology. Energy banking is presently being done only on MW quantum basis with no price tag despite the cost being dependent on the demand-supply ratio. To ensure energy banking transactions in real-time and free from the perils of financial settlements, this article suggests the use of the Peer-to-Peer (P2P) model of blockchain technology for executing Smart Contracts mutually agreed upon by both parties and avoiding third parties overhead costs. Doi: 10.28991/HIJ-2021-02-03-03 Full Text: PDF

My home is your castle: forecasting the future of accommodation sharing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shari-Estelle Gassmann ◽  
Robin Nunkoo ◽  
Victor Tiberius ◽  
Sascha Kraus
Keyword(s):  
Delphi Study ◽  
Theoretical Understanding ◽  
Future Scenario ◽  
Content Type ◽  
Industry Regulation ◽  
The Past ◽  
The Future ◽  
The Cost ◽  
Practical Implications

Purpose This paper aims to formulate the most probable future scenario for the accommodation sharing sector within the next five to ten years. It addresses the following six thematic aspects: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation. Design/methodology/approach This study identifies the most likely holistic future scenario by conducting a two-stage Delphi study involving 59 expert panelists. It addresses 33 projections for six thematic sections of the accommodation sharing industry: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation. Findings The results indicate that the number of shared accommodations and users of home-sharing will increase. Moreover, the cost advantage is the predominant driver for users to engage in the accommodation sharing segment, and for the hosts, the generation of an extra income is the primary incentive. Finally, the regulation within this industry is expected to be more effective in the foreseeable future. Practical implications The results are critical, not only to advance our theoretical understanding and stimulate critical discussions on the long-term development of accommodation sharing but also to assist governments and policymakers who have an interest in developing and regulating this sector and developers seeking business opportunities. Originality/value While there is ample knowledge about the past and current development of accommodation sharing in tourism, little is understood about its potential future development and implications for consumers, the economy, and society. To date, no scientific research is available that develops scenarios about the future of accommodation sharing.

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