scholarly journals A Flexibility Market Platform for Electricity System Operators Using Blockchain Technology

Energies ◽  
2022 ◽  
Vol 15 (2) ◽  
pp. 539
Author(s):  
Valeri Mladenov ◽  
Vesselin Chobanov ◽  
George Calin Seritan ◽  
Radu Florin Porumb ◽  
Bogdan-Adrian Enache ◽  
...  

The paper’s main objective is to demonstrate the trading and flexibility of services amongst TSOs, DSOs, and Prosumers in a transparent, secure, and cost-effective manner using Blockchain-based TSO-DSO flexibility marketplace (EFLEX). The aim is to look for ways to help DSOs/TSOs be more flexible and more directly engaged in managing energy flows on the network. EFLEX will streamline the needs of both TSO and DSO on the same platform. Based on the paper’s proposed services, the pilot service demonstration will be carried out in Bulgaria and Romania, and the main focus will be on congestion management, TSO-DSO Coordination, and Marketplace. The proposed objective is achieved by using Blockchain-based smart contracts and distributed ledger technology.

2020 ◽  
Vol 9 (4) ◽  
pp. 695-709 ◽  
Author(s):  
Surbhi Dewan ◽  
Latika Singh

PurposeA blockchain is a shared distributed ledger technology that stores the information of every transaction in the network. The blockchain has emerged with a huge diversity of applications not only in the economic but in the non-economical domain as well. Blockchain technology promises to provide a wide range of solutions to the problems faced during implementation of smart cities. It has the potential to build smart contracts more secure, thus eliminating the need for centralized authority.Design/methodology/approachThis paper presents a proof-of-concept for a use case that uses an Ethereum platform to build a blockchain network to buy, sell or rent a property.FindingsThe findings of this study provide an opportunity to create novel decentralized scalable solutions to develop smart cities by enabling paperless transactions. There are enormous opportunities in this distributed ledger technology which will bring a revolutionary change in upcoming years.Originality/valueThe concept of blockchain along with smart contracts can be used as a promising technology for sharing services which is a common requirement in smart cities. All the blockchain transactions are stored in decentralized shared database. The transaction recorded in decentralized system is immutable, it cannot be altered and hence chance of forgery is negligible.


Author(s):  
Imad Antoine Ibrahim ◽  
Jon Truby

AbstractNations worldwide have sought to capitalize on the benefits of distributed ledger technology (DLT) including Blockchain, but struggled to strike a balance between encouraging investment and innovation in the technology while addressing the challenges and uncertainties through regulation. Through its FinTech (Financial Technology) Strategy, Qatar has sought to embrace DLT, but its regulatory approach also remains cautious. Trade Finance is an ideal business process to be disrupted through the benefits of DLT and especially Blockchain technology, since its processes remain antiquated, inefficient and lack digitization. Blockchain as a form of DLT particularly offers the Trade Finance process not only more rapid, secure, cost-effective and efficient procedures, but importantly completely assures trust between importers and exporters and removes the requirement to place such trust in third-party intermediaries. Qatar can reap considerable economic benefits through the enhancement of its Trade Finance regulations enabling the adoption of such Blockchain technology. As such, the authors propose a roadmap and manual for the governance of the Trade Finance Blockchain ecosystem in Qatar. The authors propose multi-layered governance approach to the regulation of Blockchain in Qatar by (1) embracing international regulations and standards; (2) replicating foreign regional and national rules that are appropriate and innovative; and (3) applying sandbox regulations to Blockchain products and services.


2020 ◽  
Vol 15 (6) ◽  
pp. 64-72
Author(s):  
L. G. Efimova

The paper carries out a legal analysis of three models of settlements by letters of credit with the use of distributed ledger technology. First, this refers to the model of settlements that uses blockchain as a way of transferring documents under the letter of credit. Second, the author investigates the model of settlements where two smart contracts are used. In the author’s view, such smart contracts should be seen as a way of executing the contracts that, in practice, form the settlement procedure with the use of letters of credit. Third, the most interesting is the settlement model where the payer and the recipient of funds (payee) enter into one smart contract that provides non-cash settlements between them with the use of the P2P service. There is no financial intermediary that organizes non-cash settlements in this settlement model. This difference makes it possible to conclude that settlements similar to settlements with the use of letters by credit via blockchain technology and carried out on the principle of P2P, should be considered as a new form of non-cash settlements. The peculiarity of this form of non-cash settlements is the opportunity given to direct participants of the settlement to fulfil their monetary obligations without using cash and without any assistance of financial intermediaries.


2019 ◽  
Author(s):  
Dariusz Szostek

This book analyses the new blockchain and Distributed Ledger Technology (DLT) in term of its impact on law, contracts and the digital economy. It discusses global legislation in the blockchain and its implications. The analysis of contracts includes the Bitcoin system and the Bitcoin Blockchain. The book is written in an international and European perspective. It is characterised by a practical approach and addressed to lawyers who want to deepen their knowledge about legal aspects of new technologies such as the blockchain and other modern IT tools, but also to entrepreneurs, IT specialists, developers and IT managers in the implementation of DLT and block technologies The book covers the following topicsChapter I Blockchains and DLT in the digital economy Chapter II Blockchains, DLT – basic terms Chapter III Blockchains in finance Chapter IV Durable media with blockchain technology Chapter V "Smart Contracts" Chapter VI The future of blockchain solutions in legal regulations (an initiated discussion). Prof. UO dr hab. Dariusz Szostek is Director of the Centre for Legal Problems of Technic and New Technologies at the Faculty of Law University of Opole.


Author(s):  
Aras Bozkurt ◽  
Hasan Ucar

Blockchain is an online decentralized and distributed ledger technology that has the ability to keep and track records in a safe, verifiable, and transparent manner. More significantly, it has an infrastructure that is compatible with Web 3.0, which offers great potential for lifelong learning. This chapter explains the different modalities of learning (formal, non-formal, informal), blockchain technology, and its current use in educational processes. Based on the findings, the authors suggest that blockchain technology can be used to connect and interlink different educational experiences that occur in different educational modalities, enabling us to evaluate educational processes holistically and thus promote lifelong learning through the use of cutting-edge technologies.


ERA Forum ◽  
2020 ◽  
Vol 21 (2) ◽  
pp. 209-220
Author(s):  
Joshua Ellul ◽  
Jonathan Galea ◽  
Max Ganado ◽  
Stephen Mccarthy ◽  
Gordon J. Pace

Abstract Blockchain, Smart Contracts and other forms of Distributed Ledger Technology provide means to ensure that processes are verifiable, transparent, and tamper-proof. Yet the very same enabling features that bring decentralisation also pose challenges to providing protection for the various users and stakeholders. Most jurisdictions which have implemented regulatory frameworks in this area have focused on regulating the financial aspects of cryptocurrency-based operations. However, they have not addressed technology assurance requirements. In this paper we present a world-first technology regulatory framework.


2018 ◽  
Vol 1 (S1) ◽  
Author(s):  
Astrid Nieße ◽  
Norman Ihle ◽  
Stephan Balduin ◽  
Matthias Postina ◽  
Martin Tröschel ◽  
...  

Author(s):  
Bhuvana R. ◽  
P. S. Aithal

Despite various countries getting hands-on technology such as blockchain for banking, transaction, and multiple benefits, a developing country such as India must use these technologies because of the advantages it provides in order to keep pace. In the age of digital currencies and new emerging technologies, central banking is a fast-growing topic in the monetary economy. Cryptocurrencies, blockchain, and distributed Ledger technologies appear to be feasible rivals to Fiat Currency central bank. Blockchain technology's influence behind Cryptocurrencies. Cryptocurrencies have the ability to boost payments and operations by central banks and serve as a forum from which central banks could Perhaps launch their own digital currencies. RBI Indian central bank is no less important when it comes to technology that would pave the way for the new economy, enriched with technology-centric growth momentum, by increasing support from India's reserve bank and the Indian government for innovation and integrating technologies through regulatory sandboxes and various other systems. This article illustrates distributed ledger technology in the Indian context. The secondary data were obtained from various scholarly journals and websites. We have analysed distributed ledger technology, India’s move towards learning new technologies, different central banks distributed ledger project and examined blockchain technology in the Indian market using the SWOC framework as a research case study.


Blockchain for business is a new concept which enables many industries and organizations to implement even the basic of systems on foundation of blockchain technology. Using this technology, our goal is to develop a payments system that enables transfer of funds for a monetary transaction between two parties. Hyperledger is an open source community oriented effort which was made to propel cross-industry blockchain advances that were available. The Linux Foundation has it. It has partners from everywhere throughout the world , at a worldwide dimension and incorporates ventures like funding, banking, Internet of Things, supply chains, assembling and Technology. Using Blockchain for Enterprise technology, we are going to develop a new payments system that makes use of regulated cryptocurrency. Using this system, we want to create a new cryptocurrency specific to the payment portal for people to buy, sell and pay or earn rewards using this cryptocurrency. This system will majorly consist of participants and admins that will be divided based on the certificates assigned to every participant. Our implementation involves. using the fabric for creating a payment system run on the backend of blockchain technology. This will involve having a regulatory authority to maintain the cryptocurrency, ledger and authenticity of the users. Theoretically, the blockchain technology maintains anonymity for transactions. It uses a distributed ledger to record transactions for people to be able to make secure transactions without any repercussions. Blockchain for Enterprise implements Blockchain technology by using concepts like Trust, Privacy and Smart contracts in addition to the distributed ledger to create an industry friendly Blockchain business application. Blockchain is a rapidly growing field with multiple implementations which can be explored not just on anonymity but also on actual life implementations. Distributed ledger technology is applied to the payment systems. Cryptocurrency would now not only be used for anonymous transactions but also for regular day to day transactions.


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