Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges

Chiarini, Alessandra; Compagnucci, Lorenzo

doi:10.3390/su142316305

Cited by 9 publications

(8 citation statements)

References 91 publications

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“…The legal vacancy is a decisive factor since, in several use cases, involvement by an expert in legal issues might be necessary to address a conflict, which might ensue, for example, by a faulty transaction. However, there are no specific guidelines for the legislator to follow [110,118].…”

Section: Pestle Analysismentioning

confidence: 99%

Evaluating the Barriers to Blockchain Adoption in the Energy Sector: A Multicriteria Approach Using the Analytical Hierarchy Process for Group Decision Making

Andreoulaki,

Papapostolou,

Marinakis

2024

Energies

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The blockchain has been proposed for use in various applications in the energy field. Although the blockchain has technical strengths, several obstacles affect the application of the technology in energy services. The scope of this study is to highlight and prioritise the most important barriers to such applications. The first step in this direction is specifying the potential areas of the implementation of blockchain technology in the energy sector. Two useful tools for market analysis were used: Political, Economic, Social, Technological, Legal and Environmental, PESTLE Analysis, and Strengths, Weaknesses, Opportunities and Threats, SWOT Analysis, which examine external and internal factors, respectively. Thus, a list of the most important elements hindering the incorporation of the blockchain in the energy sector was extracted. The detected barriers were classified and ranked by energy and IT experts using the multicriteria method, “Analytical Hierarchy Process for Group Decision Making”. The results reveal that legal barriers relating to the complexities of deficiencies of regulations are the most significant, while technological barriers, especially those related to security issues, are also important. Sociopolitical barriers related mainly to lack of trust in blockchain, as well as economic concerns such as high upfront costs, are less influential but should still be considered. The conclusions of the conducted research have the potential to guide market actors in their endeavours to modernise energy systems through the use of the blockchain, assisting them in designing the most appropriate market strategies.

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Section: Pestle Analysismentioning

confidence: 99%

Evaluating the Barriers to Blockchain Adoption in the Energy Sector: A Multicriteria Approach Using the Analytical Hierarchy Process for Group Decision Making

Andreoulaki,

Papapostolou,

Marinakis

2024

Energies

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“…Regarding data privacy, Chiarini and Compagnucci [105] focused on the General Data Protection Regulation (GDPR) that was adopted in the EU in 2016. GDPR works on addressing the challenges raised by the digital economy regarding the protection of personal data in the EU.…”

Section: Legalmentioning

confidence: 99%

Barriers to Peer-to-Peer Energy Trading Networks: A Multi-Dimensional PESTLE Analysis

Sun,

Tavakoli,

Khalilpour

et al. 2024

Sustainability

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The growing adoption of distributed energy production technologies and the potential for energy underutilisation when the energy is produced by non-connected groups has raised interest in developing ‘sharing economy’ concepts in the electricity sector. We suggest that mechanisms, such as peer-to-peer (P2P) energy trading, will allow users to exchange their surplus energy for mutual benefits, stimulate the adoption of renewable energy, encourage communities to ‘democratically’ control their own energy supplies for local development, improve energy efficiency, and create many other benefits This approach is receiving increasing attention across the world, particularly in Germany, the Netherlands and Australia. Nevertheless, the actual development and implementation of these platforms are slow and mostly limited to trial activities. This study investigates the challenges and barriers facing P2P energy trading developments based on previous academic and industry studies. We provide a comprehensive multidimensional barrier analysis through a PESTLE approach to assess the barriers from a variety of perspectives, including the political (P), economic (E), social (S), technological (T), legal (L), and environmental (E) aspects. This approach clarifies the many intersecting problem fields for P2P trading in renewable energy, and the paper identifies a list of such barriers and discusses the prospects for addressing these issues. We also elaborate on the importance of incentive-based P2P market design.

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“…Although developments in BCT are making collaboration possible (He et al, 2020) and business is predicted to grow further in this domain (European Commission, 2023), BCT still faces several challenges, including scalability, energy consumption, integration with the legacy of infrastructures, interoperability, potential collusion between participants, management of public-private keys, and the protection of personal, sensitive or confidential data (Chiarini & Compagnucci, 2022;European Commission, 2020a).…”

Section: Blockchain and Collaborative Partnerships For Sustainabilitymentioning

confidence: 99%

Blockchain unlocking collaborative opportunities for environmental sustainability through innovation intermediaries

Spigarelli,

Compagnucci,

Lepore

2024

J Technol Transf

Self Cite

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This paper delves into the growing need for collaborative technological solutions to address environmental challenges, with a focus on the underexplored potential of Industry 4.0 technologies, in particular as regards blockchain technology (BCT) in small and medium-sized enterprises (SMEs). Recognizing the obstacles faced by SMEs when embracing green and digital transformation, this research aims to investigate how innovation intermediaries are able to unlock the collaborative potential of BCT for SMEs so as to enhance their environmental sustainability. When assessing and analysing the role of innovation intermediaries, we have also considered their interconnections and interactions with other actors: universities, government institutions and firms (the so-called “stakeholders”). Our research is based on a multiple case study of a still largely unexplored intermediary in the European context, the digital innovation hub (DIH), which extends the applicability of the technological innovation system framework. This approach contributes to research both on innovation intermediaries and on the development of collaborative partnerships for digitalization. The findings reveal the challenges encountered by DIHs, particularly in legitimizing BCT-based solutions. To address these, identified, weaknesses, the paper proposes a conceptual roadmap aimed at improving collaboration among DIHs, SMEs, and their stakeholders. This roadmap outlines three essential functions: enabling, core, and facilitating effective partnerships and innovation processes.

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Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges

Cited by 9 publications

References 91 publications

Evaluating the Barriers to Blockchain Adoption in the Energy Sector: A Multicriteria Approach Using the Analytical Hierarchy Process for Group Decision Making

Evaluating the Barriers to Blockchain Adoption in the Energy Sector: A Multicriteria Approach Using the Analytical Hierarchy Process for Group Decision Making

Barriers to Peer-to-Peer Energy Trading Networks: A Multi-Dimensional PESTLE Analysis

Blockchain unlocking collaborative opportunities for environmental sustainability through innovation intermediaries

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