A comprehensive review of energy blockchain: Application scenarios and development trends. (27th July 2021)

• Record Type: Journal Article
• Authors: Teng, Fei; Zhang, Qi; Wang, Ge; Liu, Jiangfeng; Li, Hailong
• Other Names: Aloui Fethi guestEditor.; Geo Varuvel Edwin guestEditor.
• Is Part Of: International journal of energy research. Volume 45:Number 12(2021)
• Page Start: 17515
• Page End: 17531
• Publication Date: 2021-07-27
• Subjects: applications -- challenges -- development trends -- energy blockchain -- support policies; Power resources -- Periodicals; Power (Mechanics) -- Periodicals; Power resources -- Research -- Periodicals; 621.042
• DOI: 10.1002/er.7109
• Languages: English
• ISSNs: 0363-907X

Abstract

Summary: The disruptive nature of blockchain technology has drawn considerable interest from different types of stakeholders. It is adopted in numerous sectors with the ability to openly and securely verify, track, and exchange data. The energy blockchain, a term used when blockchain technology is applied in the energy sector, is considered as having the potential to develop a decentralized, digitized, and decarbonized energy management system. The article presents an overview of the development progress from three perspectives, including academic research, the deployment of companies and pilot projects, and government support policies. Then a different taxonomy is developed to demonstrate and highlighted the different applications. Finally, the future trends and challenges hindering the effective implementation of energy blockchain are discussed. The results show that energy blockchain is an effective innovation technology to accelerate the transformation of global energy structure. Multinational cooperation and government‐leading are the basis of large‐scale deployment of energy blockchain. The improvement of regulatory mechanisms and standards is the key to the commercial application of energy blockchain. This study is a comprehensive analysis of energy blockchain applications, which is expected to support decision making for its future development.