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Blockchain and the future of energy

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  • Brilliantova, Vlada
  • Thurner, Thomas Wolfgang

Abstract

This paper discusses the emergence of blockchain technology in the energy sector in the light of ongoing energy market transformation. The study builds on literature research and expert interviews, and provides insights into the future energy landscape in the context of the blockchain advent. While the interviewees acknowledge the great, though disruptive, potential of blockchain technology for the primary activities in the electricity sector, there is agreement that inflexible regulatory frameworks impose the biggest challenge. The widest impact which blockchain technology will have in the short-term will be in electric vehicle integration, while in the long-term blockchain will enable peer-to-peer microgrids. The role that the blockchain will play, though, relies mainly on the business model innovation in energy. While a growing body of literature discusses specific blockchain applications and solutions in an advanced technological set-up, this paper presents a holistic picture of the blockchain applicability in the energy sector and thematises this very powerful and versatile technology against the background of two emerging economies: South Africa and Russia.

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  • Brilliantova, Vlada & Thurner, Thomas Wolfgang, 2019. "Blockchain and the future of energy," Technology in Society, Elsevier, vol. 57(C), pages 38-45.
    • Handle: RePEc:eee:teinso:v:57:y:2019:i:c:p:38-45
    DOI: 10.1016/j.techsoc.2018.11.001
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    18. Chand Bhatt, Priyanka & Kumar, Vimal & Lu, Tzu-Chuen & Daim, Tugrul, 2021. "Technology convergence assessment: Case of blockchain within the IR 4.0 platform," Technology in Society, Elsevier, vol. 67(C).
    19. Marsela Thanasi Boçe & Julian Hoxha, 2024. "Blockchain Technology as a Catalyst for Sustainable Development: Exploring Economic, Social, and Environmental Synergies," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 13, March.
    20. Sophie Adams & Donal Brown & Juan Pablo Cárdenas Álvarez & Ruzanna Chitchyan & Michael J. Fell & Ulf J. J. Hahnel & Kristina Hojckova & Charlotte Johnson & Lurian Klein & Mehdi Montakhabi & Kelvin Say, 2021. "Social and Economic Value in Emerging Decentralized Energy Business Models: A Critical Review," Energies, MDPI, vol. 14(23), pages 1-29, November.
    21. Alessandra Chiarini & Lorenzo Compagnucci, 2022. "Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges," Sustainability, MDPI, vol. 14(23), pages 1-20, December.
    22. Jagdish Prasad Nepal & Nuttaya Yuangyai & Saroj Gyawali & Chumpol Yuangyai, 2022. "Blockchain-Based Smart Renewable Energy: Review of Operational and Transactional Challenges," Energies, MDPI, vol. 15(13), pages 1-21, July.
    23. Lagendijk, Arnoud & Hillebrand, Bas & Kalmar, Eva & van Marion, Ingrid & van der Sanden, Maarten, 2019. "Blockchain innovation and framing in the Netherlands: How a technological object turns into a ‘hyperobject’," Technology in Society, Elsevier, vol. 59(C).
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