Survey on blockchain for future smart grids: Technical aspects, applications, integration challenges and future research

Will Oil Price Volatility Cause Market Panic?

“…However, only few studies address the oil price volatility and VIX index, and the uncertainty of the relationship between them. For example, Choi and Hong [42] found that the OVX and VIX show bi-directional causality during shale gas revolution by using the ARDL model and the Granger causality tests. However, the research of Liu et al [43] shows that there are only significant short-run relationships between crude oil volatility and VIX index, rather than long-run equilibrium relationships.…”

“…We conclude that the positive oil price shock has a greater effect on the VIX index than the negative oil price shock. Although oil prices may cause investors' panic, it is worth mentioning that frontier technologies such as blockchain technology may bring new changes to the crude oil market [41][42][43][44][45]. When studying the impact of international crude oil prices on the market, we may need to examine the moderator role of frontier technologies.…”

“…Promoting the marketization of energy pricing or trading may also be conducive to reducing the adverse impact of oil price volatility. For example, some scholars, such as Chantrel, Surmann, Erge and Thomsen [41], Yapa, de Alwis, Liyanage and Ekanayake [42], Kirli, Couraud, Robu, Salgado-Bravo, Norbu, Andoni, Antonopoulos, Negrete-Pincetic, Flynn and Kiprakis [43], and Górski [44] proposed blockchain technology for renewable energy trading. (3) From the oil-specific demand perspective, the derivatives market based on oil and other bulk commodities is developing rapidly.…”

“…In addition, promoting the marketization of energy pricing or trading is also conducive to reducing the adverse impact of oil price volatility. For example, some scholars, such as Chantrel et al [41], Yapa et al [42], Kirli et al [43], and Górski [44], proposed blockchain technology for renewable energy trading. It is thought that blockchain technology can provide a secure and immutable ledger of value transfers in a network, which will facilitate the replacement of crude oil by renewable energy.…”

Review on Energy Application Using Blockchain Technology With an Introductions in the Pricing Infrastructure

“…Ref Contribution [91] Provided proof that BC is a promising technology that can be implemented in the power sector. This paper presented many Ref Contribution possible applications in SG and identified challenges and security issues [92] Discussed the pros and cons of the use of BC technology in various power system applications considering their features and provided matches between BC characteristics and power application requirements [89] Analyzed the contribution of countries, institutions, and individuals to BC and presented the status of BC research in the energy field [93] Analyzed the applicability of BC technology in SG 2.0 [63] Represented BC applications in the energy sector and potential challenges [94] Compared digital and informational statistics on the roles of the countries, institutions, and journals to BC in the energy sector [95] Represented the applications of BC in smart cities [96] Reviewed BC in energy applications and cases and business opportunities for BC innovation [97] Determined the use of BC in energy application and demonstrated interframework for SC [64] Determined the role of BC in SG with challenges and direct future research avenues [98] Determined DSO-based requirements for potential BC applications in the energy sector [99] Focused on how BC can be used with RES [100] Proposed an analytical framework for P2P MG to identify the dimension of the implications for institutional development 4 focused on energy applications. The following section summarizes the requirements for building a pricing infrastructure for the energy application of BC.…”