Fostering consumers' energy market through smart contracts

Kounelis, Ioannis; Steri, Gary; Giuliani, Raimondo; Geneiatakis, Dimitris; Neisse, Ricardo; Nai-Fovino, Igor

doi:10.1109/es2de.2017.8015343

Cited by 44 publications

(49 citation statements)

References 4 publications

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“…Besides, the decentralized nature of blockchain makes it highly resistant to denial of service attacks. Furthermore, the immutability of the data on the blockchain makes it a trusted technology for a P2P energy trading platform (Kounelis et al, 2017). Aitzhan and Svetinovic (2018) proposed a decentralized P2P energy trading system involving blockchain technology.…”

Section: P2p Energy Tradingmentioning

confidence: 99%

“…While the overall performance of the design appeared satisfying, a limited scalability issue was identified as a potential challenge needing further investigation. Another study by Kounelis et al (2017) presented an architecture named Helios based on smart contracts. The system is designed for P2P solar power production and distribution.…”

Section: P2p Energy Tradingmentioning

confidence: 99%

“…The fact that all transactions in the blockchain are broadcast to all nodes in the network ensures the transparency of transactions and activities. For the same reason, it is almost impossible to hide any individual activity from the network (Cheng, Zeng, & Huang, 2017;Dong, Luo, & Liang, 2018;Gao et al, 2018;Kim, Kang, & Hong, 2017;Kounelis et al, 2017;Munsing, Mather, & Moura, 2017).…”

Section: Data and Activity Transparency And Immutabilitymentioning

confidence: 99%

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Benefits and Risks of Using Blockchain in Smart Energy: A Literature Review

Erturk

Lopez²,

Yu³

2020

CMR

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Being a decentralized system makes Blockchain a suitable technology solution in many cases. The Smart Energy domain has the potential to benefit from the use of Blockchain, by improving data and transaction management, through applications such as peer-to-peer energy trading, grid enhancement, and electric vehicle support. Many researchers have proposed models and prototypes of blockchain-based applications, which are expected to improve the performance of smart energy systems. In this report, a qualitative literature review was performed to look into a sample of these application proposals and to try to identify the impacts of blockchain technology in Smart Energy. This resulted in the discovery of both positive and negative factors. The beneficial factors include increased security, improved data privacy, data transparency and immutability, removal of third-party control and trust, ubiquitous solution, and greater data accessibility. The list of challenges includes limited scalability and speed, off-chain support requirement, high establishment and maintenance cost, and requiring further practical tests. One of the interesting findings is that the impact of Blockchain technology as to whether it may increase or decrease transaction costs is still unclear. Finally, the paper recommends that a future study may focus on economic feasibility and transaction costs, and ascertain which Smart Energy cases and application designs Contemporary Management Research 206 are more appropriate for Blockchain technology.

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Section: P2p Energy Tradingmentioning

confidence: 99%

Section: P2p Energy Tradingmentioning

confidence: 99%

Section: Data and Activity Transparency And Immutabilitymentioning

confidence: 99%

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Benefits and Risks of Using Blockchain in Smart Energy: A Literature Review

Erturk

Lopez²,

Yu³

2020

CMR

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“…A credit-based payment mechanism is included to support fast and frequent energy trading, alleviating the low throughput problem in typical blockchains. The trading system presented by [187] connects energy producer smart meters and local battery/AC main as a distributed energy network. A controller middleware bridges communications between the physical energy network and the blockchain.…”

Section: ) Peer-to-peer Energy Tradingmentioning

confidence: 99%

“…This is likely due to its status as the first established blockchain platform supporting full fledged smart contracts. It's use cases span almost all sectors we looked at, including voting [71], taxation [74], and collaborative urban decisionmaking [5], [78] in government sector; research paper authoring collaboration [90], digital media rights protection [102] and lottery system [102] in education, culture, science and innovation sector; clinical trial process improvement [105], medical data sharing [110], [114], supply chain of drug [121] and food [124] in well-being, health and safety sector; collaborative business process [133], [134], product provenance [137], automated sales systems [139], and sharing economies [147], [148] in the economy sector; sustainable transportation [172] in the transportation sector; energy efficiency and peer-to-peer energy market [178]- [180], [183], [184], [187], [195], and electronic vehicle charging [204] in the energy sector; and building operation management access control [214] in the built environment sector. It should be noted that while Ethereum is a permissionless blockchain, most of the research prototypes are run on the test net or a separate private Ethereum network due to their early stage nature.…”

Section: ) Ethereummentioning

confidence: 99%

Blockchain for Cities—A Systematic Literature Review

2018

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Blockchain is considered one of the most disruptive technologies of our time. Numerous cities around the world are launching blockchain initiatives as part of the overall efforts toward shaping the urban future. However, the infancy stage of the blockchain industry leads to a severe gap between the knowledge we have and the actions urban policy makers are taking. This paper is an effort to narrow this rift. We provide a systematic literature review on concrete blockchain use cases proposed by the research community. At the macro-level, we discuss and organize use cases from 159 selected papers into nine sectors recognized as crucial for sustainable and smart urban future. At the micro-level, we identify a component-based framework and analyze the design and prototypes of blockchain systems studied in a subset of 71 papers. The high-level use case review allows us to illustrate the relationship between them and the four pillars of urban sustainability: social, economic, environmental, and governmental. The system level analysis helps us highlight interesting inconsistencies between well-known blockchain applicability decision rules and the approaches taken by the literature. We also offer two classification methodologies for blockchain use cases and elaborate on how they can be applied to stimulate cross-sector insights in the blockchain knowledge domain.INDEX TERMS Bitcoin, blockchain, computer networks, consensus, crypto token, distributed computing, Ethereum, Hyperledger Fabric, systematic literature review, smart city, smart contract, system analysis and design, peer-to-peer computing, urban sustainability, use case.

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