THE USE OF BLOCKCHAIN TECHNOLOGIES IN THE ENERGY INDUSTRY
DOI:
https://doi.org/10.52578/2305-9397-2024-1-2-280-289Ключевые слова:
blockchain technologies, energy saving, local energy market, distrubeded energy, GRIDАннотация
This article examines the problem of increasing the efficiency of the energy industry using blockchain technology. The main purpose of the work is to determine the directions of implementation of blockchain technology in the oil and gas sector and the electric power industry. The article also outlines the conditions for the effective implementation of blockchain projects, analyzes the directions of blockchain implementation in the oil and gas industry and the electric power industry, and determines the expected results of the implementation of blockchain technology in the energy sector and possible related problems.Blockchain technology turns out to be fundamental for automatic monitoring, tracking, and recording of information, namely, an asset, which is electricity. Opportunities are opening up for managing the processes of electricity consumption and production through the economics of the relationship oftechnologies. Along with traditional generation, alternative opportunities arise for the local purchase of energy when it is cheap, its subsequent sale at ahigher price at the peak of consumption, or a decrease in consumption during periods of price increases.In addition, blockchain can contribute to the development of decentralized energy by allowing small home or commercial energy producers to sell their excess energy to other users. This can create new opportunities for the development of renewable energy sources and reduce dependence on traditional energy suppliers.
Библиографические ссылки
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Damisa, U. Towards Blockchain-Based Energy Trading: A Smart Contract Implementation of Energy Double Auction and Spinning Reserve Trading [Text] / U. Damisa, N.I. Nwulu, P. Siano // Energies. -2022, 15, 4084.
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REFERENCES
Habib, G. Blockchain Technology: Benefits, Challenges, Applications, and Integration of Blockchain Technology with Cloud Computing [Text] / G. Habib, S. Sharma, S. Ibrahim, I. Ahmad, S. Qureshi, M. Ishfaq // Future Internet. - 2022, 14, p. 341.
Andoni, M. Blockchain technology in the energy sector: A systematic review of challenges and opportunities [Text] / M. Andoni, V. Robu, D. Flynn, S. Abram, D. Geach, D. Jenkins, P. McCallum, A. Peacock // Renew. Sustain. Energy Rev. - 2019, 100. – pp. 143–174.
Aitzhan, N.Z. Security and Privacy in Decentralized Energy Trading Through Multi-Signatures, Blockchain and Anonymous Messaging Streams [Text] / N.Z. Aitzhan, D. Svetinovic // IEEE Trans. Dependable Secure Comput. - 2018, 15, - pp. 840–852.
Sadeghi, O. Blockchain Technology [Text] / O. Sadeghi, V. Paprotski, A. Jacobsen, V. Berestetsky, P. Coulthard // In Proceedings of the 27th Annual International Conference on Computer Science and Software Engineering, Markham, ON, Canada, 6–8 November 2017; p. 355.
Nizamuddin, N. Blockchain for automotive: An insight towards the IPFS blockchain-based auto insurance sector [Text] / N. Nizamuddin, A. Abugabah // Int. J. Electr. Comput. Eng. 2021, 11. -pp. 2443–2456.
Teufel, B. Blockchain energy: Blockchain in future energy systems [Text] / B. Teufel, S. Anton, B. Mathias // Journal of Electronic Science and Technology Volume 17, Issue 4, December 2019, 100011.
Sastrina, N. Blockchain technology in energy: problems and prospects [Text] / N. Sastrina // Youth scientific readings. - 2018. – No. 1. – pp. 93-98.
Polina, E.B. Blockchain technology: the revolution of decentralization in the power supply system [Text] / E.B. Polina // Russian electric power industry. - 2017. – vol. 18. – No. 1. – pp. 189-204.
Moan, I. Blockchain in the energy sector: advantages, prospects, limitations [Text] / I. Moan // Fundamental and applied problems of energy and energy conservation. – 2019. – pp. 420-429.
Hu, L. Blockchain in the energy system: principles and opportunities [Text] / L. Hu // International Journal of Energy Economics and Policy. – 2017. – Vol. 7. – pp. 12-19.
Chteniotis, V. The use of blockchain technology in the energy sector: a brief overview [Text] / V. Chteniotis // International Conference on Advanced Information Networking and Applications. – 2019. – pp. 150-156.
Coins, N. Blockchain in the energy sector: problems and prospects [Text] / N. Coins // The Second International Workshop on Blockchain Oriented applications and services. - 2020. – pp. 60-64.
Cardano, L. The use of blockchain technology to ensure the efficiency and reliability of energy systems / L. Cardano // Renewable and Sustainable Energy Reviews. – 2018. – Vol. 82. – pp. 4172-4181.
Tonev, I. Energy Trading Web Platform Based on the Ethereum Smart Contracts and Blockchain [Text] / I. Tonev // In Proceedings of the 12th Electrical Engineering Faculty Conference (BulEF), Varna, Bulgaria, 9–12 September. - 2020.
Bakshi, F. The role of blockchain in smart contracts and energy solutions [Text] / F. Bakshi // Elite. Econ. Zh. – 2019. – No. 6. – pp. 29-35.
Andoni, M. Blockchain technology in the energy sector: A systematic review of challenges and opportunities [Text] / M. Andoni, V. Robu, D. Flynn, S. Abram, D. Geach, D. Jenkins, P. McCallum, A. Peacock // Renew. Sustain. Energy Rev. - 2019, 100. – рp. 143–174.
Damisa, U. Towards Blockchain-Based Energy Trading: A Smart Contract Implementation of Energy Double Auction and Spinning Reserve Trading [Text] / U. Damisa, N.I. Nwulu, P. Siano // Energies. -2022, 15, 4084.
Baig, M.J. IoT and Blockchain Based Peer to Peer Energy Trading Pilot Platform [Text] / M.J. Baig, M.T. Iqbal, M. Jamil, J. Khan // In Proceedings of the 11th IEEE Annual Information Technology, Electronics and Mobile Communication Conference (IEMCON), Vancouver, BC, Canada, 4–7 November. – 2020. - pp. 402–406.
Esmat, A. A novel decentralized platform for peer-to-peer energy trading market with blockchain technology [Text] / A. Esmat, M. de Vos, Y. Ghiassi-Farrokhfal, P. Palensky, D. Epema // Appl. Energy. - 2021, 282, 116123.
Kirli, D. Smart contracts in energy systems: A systematic review of fundamental approaches and implementations [Text] / D. Kirli, B. Couraud, V. Robu, M. Salgado-Bravo, S. Norbu, M. Andoni, I. Antonopoulos, M. Negrete-Pincetic, D. Flynn, A. Kiprakis // Renew. Sustain. Energy Rev. - 2022, 158, 112REFERENCES
Habib, G. Blockchain Technology: Benefits, Challenges, Applications, and Integration of Blockchain Technology with Cloud Computing [Text] / G. Habib, S. Sharma, S. Ibrahim, I. Ahmad, S. Qureshi, M. Ishfaq // Future Internet. - 2022, 14, p. 341.
Andoni, M. Blockchain technology in the energy sector: A systematic review of challenges and opportunities [Text] / M. Andoni, V. Robu, D. Flynn, S. Abram, D. Geach, D. Jenkins, P. McCallum, A. Peacock // Renew. Sustain. Energy Rev. - 2019, 100. – pp. 143–174.
Aitzhan, N.Z. Security and Privacy in Decentralized Energy Trading Through Multi-Signatures, Blockchain and Anonymous Messaging Streams [Text] / N.Z. Aitzhan, D. Svetinovic // IEEE Trans. Dependable Secure Comput. - 2018, 15, - pp. 840–852.
Sadeghi, O. Blockchain Technology [Text] / O. Sadeghi, V. Paprotski, A. Jacobsen, V. Berestetsky, P. Coulthard // In Proceedings of the 27th Annual International Conference on Computer Science and Software Engineering, Markham, ON, Canada, 6–8 November 2017; p. 355.
Nizamuddin, N. Blockchain for automotive: An insight towards the IPFS blockchain-based auto insurance sector [Text] / N. Nizamuddin, A. Abugabah // Int. J. Electr. Comput. Eng. 2021, 11. -pp. 2443–2456.
Teufel, B. Blockchain energy: Blockchain in future energy systems [Text] / B. Teufel, S. Anton, B. Mathias // Journal of Electronic Science and Technology Volume 17, Issue 4, December 2019, 100011.
Sastrina, N. Blockchain technology in energy: problems and prospects [Text] / N. Sastrina // Youth scientific readings. - 2018. – No. 1. – pp. 93-98.
Polina, E.B. Blockchain technology: the revolution of decentralization in the power supply system [Text] / E.B. Polina // Russian electric power industry. - 2017. – vol. 18. – No. 1. – pp. 189-204.
Moan, I. Blockchain in the energy sector: advantages, prospects, limitations [Text] / I. Moan // Fundamental and applied problems of energy and energy conservation. – 2019. – pp. 420-429.
Hu, L. Blockchain in the energy system: principles and opportunities [Text] / L. Hu // International Journal of Energy Economics and Policy. – 2017. – Vol. 7. – pp. 12-19.
Chteniotis, V. The use of blockchain technology in the energy sector: a brief overview [Text] / V. Chteniotis // International Conference on Advanced Information Networking and Applications. – 2019. – pp. 150-156.
Coins, N. Blockchain in the energy sector: problems and prospects [Text] / N. Coins // The Second International Workshop on Blockchain Oriented applications and services. - 2020. – pp. 60-64.
Cardano, L. The use of blockchain technology to ensure the efficiency and reliability of energy systems / L. Cardano // Renewable and Sustainable Energy Reviews. – 2018. – Vol. 82. – pp. 4172-4181.
Tonev, I. Energy Trading Web Platform Based on the Ethereum Smart Contracts and Blockchain [Text] / I. Tonev // In Proceedings of the 12th Electrical Engineering Faculty Conference (BulEF), Varna, Bulgaria, 9–12 September. - 2020.
Bakshi, F. The role of blockchain in smart contracts and energy solutions [Text] / F. Bakshi // Elite. Econ. Zh. – 2019. – No. 6. – pp. 29-35.
Andoni, M. Blockchain technology in the energy sector: A systematic review of challenges and opportunities [Text] / M. Andoni, V. Robu, D. Flynn, S. Abram, D. Geach, D. Jenkins, P. McCallum, A. Peacock // Renew. Sustain. Energy Rev. - 2019, 100. – рp. 143–174.
Damisa, U. Towards Blockchain-Based Energy Trading: A Smart Contract Implementation of Energy Double Auction and Spinning Reserve Trading [Text] / U. Damisa, N.I. Nwulu, P. Siano // Energies. -2022, 15, 4084.
Baig, M.J. IoT and Blockchain Based Peer to Peer Energy Trading Pilot Platform [Text] / M.J. Baig, M.T. Iqbal, M. Jamil, J. Khan // In Proceedings of the 11th IEEE Annual Information Technology, Electronics and Mobile Communication Conference (IEMCON), Vancouver, BC, Canada, 4–7 November. – 2020. - pp. 402–406.
Esmat, A. A novel decentralized platform for peer-to-peer energy trading market with blockchain technology [Text] / A. Esmat, M. de Vos, Y. Ghiassi-Farrokhfal, P. Palensky, D. Epema // Appl. Energy. - 2021, 282, 116123.
Kirli, D. Smart contracts in energy systems: A systematic review of fundamental approaches and implementations [Text] / D. Kirli, B. Couraud, V. Robu, M. Salgado-Bravo, S. Norbu, M. Andoni, I. Antonopoulos, M. Negrete-Pincetic, D. Flynn, A. Kiprakis // Renew. Sustain. Energy Rev. - 2022, 158, 112013.
