Use cases for Blockchain in the Energy Industry Opportunities of emerging business models and related risks

Bürer, Mary Jean; Lapparent, Matthieu de; Pallotta, Vincenzo; Capezzali, Massimiliano; Carpita, Mauro

doi:10.1016/j.cie.2019.106002

Cited by 87 publications

(70 citation statements)

References 12 publications

(11 reference statements)

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“…Analyzing emerging technologies, the blockchain is being recognized among the top five technology trends (Panetta, 2018) with an increasing number of startups claiming to use the blockchain technology and almost every big bank dealing with a blockchain project (Bürer, de Lapparent, Pallotta, Capezzali, & Carpita, 2019). Despite the big potentiality recognized to the blockchain, one of the most often claimed problems relates to the energy consumption of the system.…”

Section: Literature Review and Research Questionmentioning

confidence: 99%

“…In all the while, we believe that “little information is available … [and] … much more empirical evidence and research work will be needed in the coming years to understand better how much energy blockchain applications will consume”(Bürer et al, 2019), there is the need to better understand the possibility lead by asset tokenization, transparency, absence of intermediaries or middlemen, distribution of its information, and the consensus protocol for future business developments. At the time we are writing, according to the Web site http://coinmarketcap.com, the overall value of tokens issued by companies exceeds 230 Billion.…”

Section: Literature Review and Research Questionmentioning

confidence: 99%

See 1 more Smart Citation

Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis

Massaro

Mas

Jabbour

et al. 2020

Corp Soc Responsibility Env

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The purpose of this article is to shed light on how the blockchain technology can lead to the creation of new sustainable business models (SBMs). The literature highlights the need to merge the sustainability perspective into business models, creating new SBMs. Using a case study methodology, the paper investigates how the blockchain can foster the creation of SBMs, thus exploring the following Research Question (RQ): How can blockchain facilitate the development of new SBM? The case represents an example of an SBM merging more theoretical definitions. The unique features of the blockchain foster inclusivity even in traditional sectors, allowing widespread distribution of the benefits for the community with a long‐term orientation. Consequently, our study provides systematized evidence of how the blockchain can foster financial and social sustainability. This manuscript adds to the state‐of‐the‐art literature on the application of emerging technologies to organizational sustainability by shedding light on real business case evidence.

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Section: Literature Review and Research Questionmentioning

confidence: 99%

Section: Literature Review and Research Questionmentioning

confidence: 99%

Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis

Massaro

Mas

Jabbour

et al. 2020

Corp Soc Responsibility Env

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“…Secondly, they are converted to interval-valued Pythagorean fuzzy sets. This situation is demonstrated in the equation (21).…”

Section: Extensions Of Mcdm Modelsmentioning

confidence: 85%

“…Otherwise, it will not be possible for energy companies to continue their activities in the sector. Bürer et al [21] analyzed opportunities in the energy sector. It was stated that energy companies should gain the trust of their customers to increase their market shares in the sector.…”

Section: A Literature On Energy Investmentmentioning

confidence: 99%

Evaluating Recognitive Balanced Scorecard-Based Quality Improvement Strategies of Energy Investments With the Integrated Hesitant 2-Tuple Interval-Valued Pythagorean Fuzzy Decision-Making Approach to QFD

et al. 2020

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This study aims to identify quality improvement strategies for energy investments. For this purpose, a model is proposed which includes 4 different stages. In the first stage, the MCDM problem is identified for evaluating the service development for energy industry. In this framework, quality function deployment (QFD) approach is taken into consideration which includes both customer expectations and technical requirements at the same time to improve the quality in the organization. The second stage is related to the calculation of the correlation coefficients of decision matrices for the criteria by considering hesitant 2-tuple interval-valued Pythagorean fuzzy sets. The third stage includes the weighting of the customer expectations with hesitant 2-tuple interval-valued Pythagorean fuzzy (HIVPF) DEMATEL. In the final stage, TRIZ-based quality improvement strategies of energy investments are ranked by using 2-tuple HIVPF TOPSIS. Thus, the motivation of this study is to figure out the weights of the criteria for quality improvement strategies in energy investments. Also, the most important contribution of this study to the literature is related to the originality in the methodology by proposing a new MCDM model while using hesitant linguistic term sets, linguistic 2-tuple information, interval-valued Pythagorean fuzzy sets properly. The findings indicate that empathy is the most significant criterion for the customer expectations in the energy investments. In addition to this issue, it is also identified that customization is the best factor among the technical requirements of energy investments. Moreover, information and communication facilities and organizational background are found as the best competencies of new service development in energy investments. Furthermore, that prior action and periodic action are the most prominent strategies for quality improvement. While considering these results, it can be said that the pricing policy of the energy companies should be fair to increase customer satisfaction. Additionally, offering flexible payment opportunities on energy bills can have a positive influence on the customer satisfaction in this process. Also, preliminary planning of the project should be done in detail in energy investments. Owing to this issue, customers' preferences can be identified before the product is placed on the market. In addition, it can be possible to identify the risks that may arise in energy investments with the help of the periodical audits.

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“…The number of research papers on blockchain technology has been growing rapidly in the past five years. Related fields include computer science [7], finance [11], e-commerce [1,12], Internet [13,14], Internet of Things (IoT) [15,16], government [17], supply chain management [3,18], digital medicine [10,19,20], energy [21,22], and education [23,24]. Figure 2 shows the relevant data.…”

Section: Introductionmentioning

confidence: 99%

Blockchain Service Provider Selection Based on an Integrated BWM-Entropy-TOPSIS Method Under an Intuitionistic Fuzzy Environment

Liu

Zhang

et al. 2020

IEEE Access

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The emergence of blockchain technology has significantly changed the underlying infrastructure of existing information technology and will fundamentally affect the production modes of enterprises. However, because the application of blockchain is still in its infancy, it is difficult for an enterprise to develop a comprehensive assessment of various types of blockchain service providers in the market. Hence, enterprises need scientific decision tools to estimate which blockchain service provider is appropriate. However, few studies have focused on this phenomenon. Therefore, to address this challenge, this investigation proposes a novel integrated multi-attribute group decision-making (MAGDM) method to help enterprises estimate which blockchain vendor is more appropriate by considering more comprehensive influence factors. The proposed method is defined in an intuitionistic fuzzy environment and integrates entropy and the best-worst method (BWM) for comprehensive weighting of decision makers (DMs), subjective criteria and objective criteria in the decision-making process to make the decision results more reliable and reasonable. A numerical example and comparison are provided to illustrate the practicability and usefulness of the method. This study enriches the theory and methodology of blockchain technology and MAGDM analysis. INDEX TERMS Blockchain, BWM, entropy, intuitionistic fuzzy set, TOPSIS.

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Use cases for Blockchain in the Energy Industry Opportunities of emerging business models and related risks

Cited by 87 publications

References 12 publications

Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis

Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis

Evaluating Recognitive Balanced Scorecard-Based Quality Improvement Strategies of Energy Investments With the Integrated Hesitant 2-Tuple Interval-Valued Pythagorean Fuzzy Decision-Making Approach to QFD

Blockchain Service Provider Selection Based on an Integrated BWM-Entropy-TOPSIS Method Under an Intuitionistic Fuzzy Environment

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