Adaptive bidding strategy for real-time energy management in multi-energy market enhanced by blockchain

Wang, Longze; Liu, Jinxin; Yuan, Rongfang; Wu, Jian; Zhang, De‐Long; Zhang, Yan; Li, Meicheng

doi:10.1016/j.apenergy.2020.115866

Cited by 37 publications

(9 citation statements)

References 51 publications

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“…The blockchain can provide visibility and tracking to the market to determine whether a shipper, through crowdshipping or regular services should bid on taking materials from a sorting location to processing locations such as disassembly or shredding. Smart contracts may serve the role of managing a bidding system (e.g., [61,62]).…”

Section: Blockchain As a Marketplacementioning

confidence: 99%

Digitalizing the Closing-of-the-Loop for Supply Chains: A Transportation and Blockchain Perspective

et al. 2021

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The circular economy is gaining in importance globally and locally. The COVID-19 crisis, as an exceptional event, showed the limits and the fragility of supply chains, with circular economy practices as a potential solution during and post-COVID. Reverse logistics (RL) is an important dimension of the circular economy which allows management of economic, social, and environmental challenges. Transportation is needed for RL to effectively operate, but research study on this topic has been relatively limited. New digitalization opportunities can enhance transportation and RL, and therefore further enhance the circular economy. This paper proposes to review practical research and concerns at the nexus of transportation, RL, and blockchain as a digitalizing technology. The potential benefits of blockchain technology through example use cases on various aspects of RL and transportation activities are presented. This integration and applications are evaluated using various capability facets of blockchain technology, particularly as an immutable and reliable ledger, a tracking service, a smart contract utility, as marketplace support, and as tokenization and incentivization. We also briefly introduce the physical internet concept within this context. The physical internet paradigm proposed last decade, promises to also disrupt the blockchain, transportation, and RL nexus. We include potential research directions and managerial implications across the blockchain, transportation, and RL nexus.

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Section: Blockchain As a Marketplacementioning

confidence: 99%

Digitalizing the Closing-of-the-Loop for Supply Chains: A Transportation and Blockchain Perspective

et al. 2021

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“…Real-time energy management has the potential to resolve the impact of various uncertainties in the energy market, provide instant energy balance and improve business returns. Wang et al [107] proposed a bidding strategy for the energy market, with multiple participants, which uses an adaptive learning process that incorporates a reserve price adjustment and a mechanism of dynamic compensation. Participants perform bid adjustments based on adaptive learning leveraging real-time market information to increase transaction rate and maximize profits.…”

Section: Blockchain For Smart Energy Managementmentioning

confidence: 99%

Edge AI and Blockchain for Smart Sustainable Cities: Promise and Potential

Badidi

2022

Sustainability

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Modern cities worldwide are undergoing radical changes to foster a clean, sustainable and secure environment, install smart infrastructures, deliver intelligent services to residents, and facilitate access for vulnerable groups. The adoption of new technologies is at the heart of implementing many initiatives to address critical concerns in urban mobility, healthcare, water management, clean energy production and consumption, energy saving, housing, safety, and accessibility. Given the advancements in sensing and communication technologies over the past few decades, exploring the adoption of recent and innovative technologies is critical to addressing these concerns and making cities more innovative, sustainable, and safer. This article provides a broad understanding of the current urban challenges faced by smart cities. It highlights two new technological advances, edge artificial intelligence (edge AI) and Blockchain, and analyzes their transformative potential to make our cities smarter. In addition, it explores the multiple uses of edge AI and Blockchain technologies in the fields of smart mobility and smart energy and reviews relevant research efforts in these two critical areas of modern smart cities. It highlights the various algorithms to handle vehicle detection, counting, speed identification to address the problem of traffic congestion and the different use-cases of Blockchain in terms of trustworthy communications and trading between vehicles and smart energy trading. This review paper is expected to serve as a guideline for future research on adopting edge AI and Blockchain in other smart city domains.

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“…Different solutions have been proposed to build local energy markets and peer-to-peer grids. The proposed platforms may rely on several approaches, for example, game theoretical optimization processes (Zhao et al, 2019;Wen et al, 2021;Noor et al, 2018), market model optimization (Wang et al, 2021;Foti and Vavalis, 2019), multi-objective optimization (Tsao et al, 2021), hierarchical bidding and transaction structure (Yu et al, 2019), dynamic bidding strategy (Wang et al, 2020), ahead energy demand planning (Van Cutsem et al, 2020), or dynamic incentivization of optimized usage of energy (Yahaya et al, 2020).…”

Section: P2p and Local Energy Marketsmentioning

confidence: 99%

Off-chain trading for micro grid systems

Marcozzi

Mostarda²,

Cacciagrano³

2022

Front. Blockchain

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As micro grids and blockchain gained the interest and attention of both academia and the industry, the interaction between the two technologies seems inevitable. However, there are challenges to overcome in order to actually realize the integration between micro grids and blockchains. In this article, we review the solutions proposed to enhance micro grids with blockchains. We discuss the scalability challenges and the opportunities derived from the off-chaining computing techniques. In this context, we draft a design to implement a micro grid-based peer-to-peer local energy market, powered by an off-chain computing protocol called DIVERSITY. DIVERSITY aims to shift the computational burden from a main blockchain to an intermediate layer of nodes, aggregating data and executing smart contracts off-chain. We simulate different data logging approaches, and it is found that DIVERSITY allows an actual saving on fees and power consumption derived from using a public blockchain platform, such as Ethereum, in order to assure a truly decentralized renewable energy distribution at a lower cost.

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Adaptive bidding strategy for real-time energy management in multi-energy market enhanced by blockchain

Cited by 37 publications

References 51 publications

Digitalizing the Closing-of-the-Loop for Supply Chains: A Transportation and Blockchain Perspective

Digitalizing the Closing-of-the-Loop for Supply Chains: A Transportation and Blockchain Perspective

Edge AI and Blockchain for Smart Sustainable Cities: Promise and Potential

Off-chain trading for micro grid systems

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