IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v14y2022i22p14793-d967964.html
   My bibliography  Save this article

Blockchain in the Energy Sector—Systematic Review

Author

Listed:
  • Anna Borkovcová

    (Faculty of Informatics and Management, University of Hradec Kralove, Rokitanskeho 62, 500 03 Hradec Kralove, Czech Republic)

  • Miloslava Černá

    (Faculty of Informatics and Management, University of Hradec Kralove, Rokitanskeho 62, 500 03 Hradec Kralove, Czech Republic)

  • Marcela Sokolová

    (Faculty of Informatics and Management, University of Hradec Kralove, Rokitanskeho 62, 500 03 Hradec Kralove, Czech Republic)

Abstract

The article provides an overview of academic contributions to blockchain technology over the past three years. A large number of practical implementations are proving the versatility of blockchain across industries. Some of these areas are easy to deduce, but for some, the benefits of using blockchain technology may not be obvious. Real applications of blockchain can be found in sectors such as cyber security and the financial sector, but also in various categories of the public sector, healthcare, and industry. This paper focuses on the use of blockchain technology in the energy industry. The paper aims to present the current trends of blockchain in the energy sector and provide a summary of blockchain technology discussed in academia. The research questions are formulated to correspond to the basic goals of the energy sector today. The core of the paper forms a systematic review based on the PRISMA guidelines. The output of this systematic review brings an up-to-day insight into the issue and introduces potential areas for further research.

Suggested Citation

  • Anna Borkovcová & Miloslava Černá & Marcela Sokolová, 2022. "Blockchain in the Energy Sector—Systematic Review," Sustainability, MDPI, vol. 14(22), pages 1-12, November.
  • Handle: RePEc:gam:jsusta:v:14:y:2022:i:22:p:14793-:d:967964
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/14/22/14793/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/14/22/14793/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lin William Cong & Zhiguo He, 2019. "Blockchain Disruption and Smart Contracts," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1754-1797.
    2. Diestelmeier, Lea, 2019. "Changing power: Shifting the role of electricity consumers with blockchain technology – Policy implications for EU electricity law," Energy Policy, Elsevier, vol. 128(C), pages 189-196.
    3. Piotr F. Borowski, 2021. "Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector," Energies, MDPI, vol. 14(7), pages 1-20, March.
    4. Irene Arcelay & Aitor Goti & Aitor Oyarbide-Zubillaga & Tugce Akyazi & Elisabete Alberdi & Pablo Garcia-Bringas, 2021. "Definition of the Future Skills Needs of Job Profiles in the Renewable Energy Sector," Energies, MDPI, vol. 14(9), pages 1-23, May.
    5. Robert Karaszewski & Paweł Modrzyński & Joanna Modrzyńska, 2021. "The Use of Blockchain Technology in Public Sector Entities Management: An Example of Security and Energy Efficiency in Cloud Computing Data Processing," Energies, MDPI, vol. 14(7), pages 1-19, March.
    6. Michael J. Fell & Alexandra Schneiders & David Shipworth, 2019. "Consumer Demand for Blockchain-Enabled Peer-to-Peer Electricity Trading in the United Kingdom: An Online Survey Experiment," Energies, MDPI, vol. 12(20), pages 1-25, October.
    7. Inessa Tyan & Mariemma I. Yagüe & Antonio Guevara-Plaza, 2020. "Blockchain Technology for Smart Tourism Destinations," Sustainability, MDPI, vol. 12(22), pages 1-11, November.
    8. Andoni, Merlinda & Robu, Valentin & Flynn, David & Abram, Simone & Geach, Dale & Jenkins, David & McCallum, Peter & Peacock, Andrew, 2019. "Blockchain technology in the energy sector: A systematic review of challenges and opportunities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 100(C), pages 143-174.
    9. Alanne, Kari & Saari, Arto, 2006. "Distributed energy generation and sustainable development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 10(6), pages 539-558, December.
    10. Sun, J. W., 2005. "The decrease of CO2 emission intensity is decarbonization at national and global levels," Energy Policy, Elsevier, vol. 33(8), pages 975-978, May.
    11. Anam-Nawaz Khan & Naeem Iqbal & Atif Rizwan & Rashid Ahmad & Do-Hyeun Kim, 2021. "An Ensemble Energy Consumption Forecasting Model Based on Spatial-Temporal Clustering Analysis in Residential Buildings," Energies, MDPI, vol. 14(11), pages 1-25, May.
    12. Alain Aoun & Hussein Ibrahim & Mazen Ghandour & Adrian Ilinca, 2021. "Blockchain-Enabled Energy Demand Side Management Cap and Trade Model," Energies, MDPI, vol. 14(24), pages 1-26, December.
    13. Hannah S Chen†& Juliet T Jarrell & Kristy A Carpenter & David S Cohen & Xudong Huang, 2019. "Blockchain in Healthcare: A Patient-Centered Model," Biomedical Journal of Scientific & Technical Research, Biomedical Research Network+, LLC, vol. 20(3), pages 15017-15022, August.
    14. Erik Karger & Marvin Jagals & Frederik Ahlemann, 2021. "Blockchain for Smart Mobility—Literature Review and Future Research Agenda," Sustainability, MDPI, vol. 13(23), pages 1-32, November.
    15. Guych Nuryyev & Yu-Ping Wang & Jennet Achyldurdyyeva & Bih-Shiaw Jaw & Yi-Shien Yeh & Hsien-Tang Lin & Li-Fan Wu, 2020. "Blockchain Technology Adoption Behavior and Sustainability of the Business in Tourism and Hospitality SMEs: An Empirical Study," Sustainability, MDPI, vol. 12(3), pages 1-21, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Siripha Junlakarn & Phimsupha Kokchang & Kulyos Audomvongseree, 2022. "Drivers and Challenges of Peer-to-Peer Energy Trading Development in Thailand," Energies, MDPI, vol. 15(3), pages 1-25, February.
    2. Nan Jiang & Qi Han & Guohua Zhu, 2023. "A Three-Dimensional Analytical Framework: Textual Analysis and Comparison of Chinese and US Energy Blockchain Policies," Sustainability, MDPI, vol. 15(6), pages 1-28, March.
    3. Marco Schletz & Ana Cardoso & Gabriela Prata Dias & Søren Salomo, 2020. "How Can Blockchain Technology Accelerate Energy Efficiency Interventions? A Use Case Comparison," Energies, MDPI, vol. 13(22), pages 1-23, November.
    4. Nazir Ullah & Waleed S. Alnumay & Waleed Mugahed Al-Rahmi & Ahmed Ibrahim Alzahrani & Hosam Al-Samarraie, 2020. "Modeling Cost Saving and Innovativeness for Blockchain Technology Adoption by Energy Management," Energies, MDPI, vol. 13(18), pages 1-22, September.
    5. Guo, Qiaozhen & He, Qiao-Chu & Chen, Ying-Ju & Huang, Wei, 2021. "Poverty mitigation via solar panel adoption: Smart contracts and targeted subsidy design," Omega, Elsevier, vol. 102(C).
    6. Dorfleitner, Gregor & Muck, Franziska & Scheckenbach, Isabel, 2021. "Blockchain applications for climate protection: A global empirical investigation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).
    7. Ma, Chao-Qun & Lei, Yu-Tian & Ren, Yi-Shuai & Chen, Xun-Qi & Wang, Yi-Ran & Narayan, Seema, 2024. "Systematic analysis of the blockchain in the energy sector: Trends, issues, and future directions," Telecommunications Policy, Elsevier, vol. 48(2).
    8. Kimani, Danson & Adams, Kweku & Attah-Boakye, Rexford & Ullah, Subhan & Frecknall-Hughes, Jane & Kim, Ja, 2020. "Blockchain, business and the fourth industrial revolution: Whence, whither, wherefore and how?," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    9. Wang, Tonghe & Guo, Jian & Ai, Songpu & Cao, Junwei, 2021. "RBT: A distributed reputation system for blockchain-based peer-to-peer energy trading with fairness consideration," Applied Energy, Elsevier, vol. 295(C).
    10. 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.
    11. Robert Szydło & Sylwia Wiśniewska & Małgorzata Tyrańska & Anna Dolot & Urszula Bukowska & Marek Koczyński, 2021. "Employer Expectations Regarding the Competencies of Employees on the Energy Market in Poland," Energies, MDPI, vol. 14(21), pages 1-21, November.
    12. Filipe Bandeiras & Álvaro Gomes & Mário Gomes & Paulo Coelho, 2023. "Exploring Energy Trading Markets in Smart Grid and Microgrid Systems and Their Implications for Sustainability in Smart Cities," Energies, MDPI, vol. 16(2), pages 1-41, January.
    13. Zhou, Yue & Wu, Jianzhong & Song, Guanyu & Long, Chao, 2020. "Framework design and optimal bidding strategy for ancillary service provision from a peer-to-peer energy trading community," Applied Energy, Elsevier, vol. 278(C).
    14. Sharma, Gagan Deep & Tiwari, Aviral Kumar & Chopra, Ritika & Dev, Dhairya, 2024. "Past, present, and future of block-chain in finance," Journal of Business Research, Elsevier, vol. 177(C).
    15. Leyla Gamidullaeva & Sergey Vasin & Tatyana Tolstykh & Svetlana Zinchenko, 2022. "Approach to Regional Tourism Potential Assessment in View of Cross-Sectoral Ecosystem Development," Sustainability, MDPI, vol. 14(22), pages 1-24, November.
    16. Oprea, Simona-Vasilica & Bâra, Adela, 2021. "Devising a trading mechanism with a joint price adjustment for local electricity markets using blockchain. Insights for policy makers," Energy Policy, Elsevier, vol. 152(C).
    17. Heymann, Fabian & Milojevic, Tatjana & Covatariu, Andrei & Verma, Piyush, 2023. "Digitalization in decarbonizing electricity systems – Phenomena, regional aspects, stakeholders, use cases, challenges and policy options," Energy, Elsevier, vol. 262(PB).
    18. Funcke, S. & Ruppert-Winkel, C., 2020. "Storylines of (de)centralisation: Exploring infrastructure dimensions in the German electricity system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 121(C).
    19. Roberto Leonardo Rana & Nino Adamashvili & Caterina Tricase, 2022. "The Impact of Blockchain Technology Adoption on Tourism Industry: A Systematic Literature Review," Sustainability, MDPI, vol. 14(12), pages 1-17, June.
    20. Roth, Tamara & Utz, Manuel & Baumgarte, Felix & Rieger, Alexander & Sedlmeir, Johannes & Strüker, Jens, 2022. "Electricity powered by blockchain: A review with a European perspective," Applied Energy, Elsevier, vol. 325(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:14:y:2022:i:22:p:14793-:d:967964. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.