A Novel Energy Trading Framework Using Adapted Blockchain Technology

2020 ◽  
pp. 1-1
Author(s):  
Mohamed R. Hamouda ◽  
Mohammed E. Nassar ◽  
M. M. A. Salama
Keyword(s):  
Energy Trading ◽  
Blockchain Technology

scholarly journals Emergence of blockchain-technology application in peer-to-peer electrical-energy trading: a review

Clean Energy ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 104-123
Author(s):  
Manish Kumar Thukral
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Research Work ◽  
Energy Sector ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Energy Trading ◽  
Technology Application ◽  
Blockchain Technology ◽  
The Common

Abstract Renewable-energy resources require overwhelming adoption by the common masses for safeguarding the environment from pollution. In this context, the prosumer is an important emerging concept. A prosumer in simple terms is the one who consumes as well as produces electricity and sells it either to the grid or to a neighbour. In the present scenario, peer-to-peer (P2P) energy trading is gaining momentum as a new vista of research that is viewed as a possible way for prosumers to sell energy to neighbours. Enabling P2P energy trading is the only method of making renewable-energy sources popular among the common masses. For making P2P energy trading successful, blockchain technology is sparking considerable interest among researchers. Combined with smart contracts, a blockchain provides secure tamper-proof records of transactions that are recorded in distributed ledgers that are immutable. This paper explores, using a thorough review of recently published research work, how the existing power sector is reshaping in the direction of P2P energy trading with the application of blockchain technology. Various challenges that are being faced by researchers in the implementation of blockchain technology in the energy sector are discussed. Further, this paper presents different start-ups that have emerged in the energy-sector domain that are using blockchain technology. To give insight into the application of blockchain technology in the energy sector, a case of the application of blockchain technology in P2P trading in electrical-vehicle charging is discussed. At the end, some possible areas of research in the application of blockchain technology in the energy sector are discussed.

scholarly journals Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

2021 ◽  
Author(s):  
Nasser Al-Saif ◽  
Raja Wasim Ahmad ◽  
Khaled Salah ◽  
Ibrar Yaqoob ◽  
Raja Jayaraman ◽  
...  
Keyword(s):  
Fault Tolerance ◽  
Case Studies ◽  
Electric Vehicles ◽  
Single Point ◽  
Data Provenance ◽  
Successful Implementation ◽  
Research Projects ◽  
Energy Trading ◽  
Blockchain Technology ◽  
Trusted Data

Today's technologies, techniques, and systems leveraged for managing energy trading operations in electric vehicles fall short in providing operational transparency, immutability, fault tolerance, traceability, and trusted data provenance features. They are centralized and vulnerable to the single point of failure problem, and less trustworthy as they are prone to the data modifications and deletion by adversaries. In this paper, we present the potential advantages of blockchain technology to manage energy trading operations between electric vehicles as it can offer data traceability, immutability, transparency, audit, security, and confidentiality in a fully decentralized manner. We identify and discuss the essential requirements for the successful implementation of blockchain technology to secure energy trading operations among electric vehicles. We present a detailed discussion on the potential opportunities offered by blockchain technology to secure the energy trading operations of electric vehicles. We discuss several blockchain-based research projects and case studies to highlight the practicability of blockchain technology in electric vehicles energy trading. Finally, we identify and discuss open challenges in fulfilling the requirements of electric vehicles energy trading applications.

Digitaler Echtzeithandel in der Nachbarschaft

BWK ENERGIE. ◽  
2019 ◽  
Vol 71 (09) ◽  
pp. 50-51
Author(s):  
Michael Merz
Keyword(s):  
Energy Trading ◽  
Blockchain Technology

ENERGIEHANDEL | Die Blockchain-Technologie zur Abwicklung lokaler Energiehandelsgeschäfte findet mittlerweile auch hierzulande den Weg in die Praxis. Im Projekt „Etiblogg“ (Energy Trading via Blockchain-Technology in the Local Green Grid) 1) beispielsweise wird der Handel vollautomatisch durch sogenannte Blockchain Devices durchgeführt.

scholarly journals Blockchain in Energy Efficiency: Potential Applications and Benefits

Energies ◽  
2019 ◽  
Vol 12 (17) ◽  
pp. 3317 ◽  
Author(s):  
Asma Khatoon ◽  
Piyush Verma ◽  
Jo Southernwood ◽  
Beth Massey ◽  
Peter Corcoran
Keyword(s):  
Energy Efficiency ◽  
Information And Communication Technologies ◽  
Asset Management ◽  
Large Scale ◽  
Energy System ◽  
Energy Trading ◽  
Trading Systems ◽  
Energy Company ◽  
Blockchain Technology ◽  
Smart Contract

Blockchain technology is ready to disrupt nearly every industry and business model, and the energy sector is no exception. Energy businesses across the world have already started exploring the use of blockchain technology in large-scale energy trading systems, peer-to-peer energy trading, project financing, supply chain tracking, and asset management among other applications. Information and Communication Technologies (ICTs) recently started revolutionizing the energy landscape, and now blockchain technology is providing an additional opportunity to make the energy system more intelligent, efficient, transparent, and secure in the longer term. The idea of this paper is to examine more closely the use of blockchain technology for its possible application in the energy efficiency industry and to determine how it could make energy efficiency markets more secure and transparent in the longer term. This paper examines in detail the key benefits and implications of using blockchain in the energy efficiency sector through the presentation and discussion of two case studies as possible blockchain applications—(i) the UK Energy Company Obligation scheme and (ii) the Italian White Certificate Scheme. We have presented how the key issues around trading energy efficiency savings—correctly estimating the savings, data transparency among stakeholders, and inefficient administrative processes—can be solved through the application of a blockchain-based smart contract system. Finally, this paper presents an implementation of a smart contract for trading of energy-saving certificates achieved via execution of smart contract transactions on the Ethereum blockchain.

scholarly journals A novel decentralized platform for peer-to-peer energy trading market with blockchain technology

2021 ◽  
Vol 282 ◽  
pp. 116123
Author(s):  
Ayman Esmat ◽  
Martijn de Vos ◽  
Yashar Ghiassi-Farrokhfal ◽  
Peter Palensky ◽  
Dick Epema
Keyword(s):  
Peer To Peer ◽  
Energy Trading ◽  
Blockchain Technology ◽  
Trading Market

scholarly journals Application of Blockchain Technology in Energy Trading: A Review

2021 ◽  
Vol 9 ◽  
Author(s):  
Hongbiao Li ◽  
Fan Xiao ◽  
Lixin Yin ◽  
Fengtong Wu
Keyword(s):  
Development Process ◽  
Energy Trading ◽  
Blockchain Technology

As blockchain and energy trading have become hot topics in industry and academia, this paper presents a brief literature regarding the blockchain-based energy trading in the fields of energy trading with blockchain. At first, the background and development process is presented, and then the applications of blockchain in energy trading are surveyed and analyzed. Finally, conclusions are summarized and important directions are highlighted in this field.

scholarly journals Blockchain-Enhanced Fair and Efficient Energy Trading in Industrial Internet of Things

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Jianwen Hu ◽  
Yuling Chen ◽  
Xiaojun Ren ◽  
Yixian Yang ◽  
Xiaobin Qian ◽  
...  
Keyword(s):  
Internet Of Things ◽  
Consensus Algorithm ◽  
Experimental Simulation ◽  
Industrial Internet Of Things ◽  
Identity Verification ◽  
Energy Trading ◽  
Blockchain Technology ◽  
Transaction Process ◽  
Industrial Internet ◽  
Trading Scheme

As the technical support of the industrial Internet of Things, blockchain technology has been widely used in energy trading, data transactions, and Internet of Vehicles. However, most of the existing energy trading models only address the transaction security and transaction privacy issues that arise in the energy trading process, ignoring the fairness of resource allocation and transaction equity in the trading process. In order to tackle those problems, an energy trading scheme called HO-TRAD is proposed in this paper to improve the efficiency of model trading while ensuring the fairness of energy trading. We propose a new trading strategy in the HO-TRAD energy trading scheme that guarantees fairness in the allocation of trading resources by introducing an entity’s active reputation value. Use smart contracts to achieve transparency and ensure fairness in the transaction process. Based on the identity verification foundation of the consortium chain, the scheme enhances the existing PBFT consensus algorithm and improves the efficiency of model transactions. The experimental simulation indicates that the scheme requires less transaction time and has higher transaction fairness and security.

scholarly journals Energy Trading Perspectives in the Digital Era

2020 ◽  
Vol 14 (1) ◽  
pp. 16-27
Author(s):  
András Puskás-Tompos
Keyword(s):  
Artificial Intelligence ◽  
Smart Grids ◽  
Carbon Dioxide Emissions ◽  
Business Models ◽  
Rapid Evolution ◽  
Sustainable Business ◽  
Energy Trading ◽  
Electricity Trading ◽  
Blockchain Technology ◽  
Digital Era

AbstractThe aim of the paper research is to identify and improve business models in energy trading by analyzing the current situation and developing scenarios for the evolution of business models in the Digital Era. It is very important to analyze, identify and track those directions that we believe will drive energy trading in order to be able to design and create new sustainable business models. We highlight the possibilities and ways of improving the energy trading, analyzing the rapid evolution of the field, generated by the emergence of several new factors that can influence this industry. Beside those directions at which electricity trading is heading in the Digital Era, the research also describes main innovations in the field such as Smart Grids, Blockchain Technology, Peer-to-peer trading platforms and Demand Response through which the purpose is to attract final consumers to the energy trading on web platforms or mobile applications with which they can properly control their electric appliances and self-generation units in their homes, all these supervised and guided by artificial intelligence. The type of research proposed to identify the current condition and to be able to develop new trading models is empirical research through qualitative analysis. Beyond incentives and monetary benefits, the focus is on final consumer education and increased awareness towards a more conscious, optimal and rational consumption of electricity that can lead to both a better use of the energy production from renewable sources and a reduction of pollutant fossil fuel electricity generation and carbon dioxide emissions without endangering the proper functioning of the electricity systems. Previous researches are based more on incentivizing or penalizing end consumers in present paper, more emphasis is placed on attracting the end consumer to his own electricity trading through mentioned innovation, but also supervised and guided by artificial intelligence.

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