A permissioned blockchain enabled trustworthy and incentivized emission trading system

Muzumdar, Ajit; Modi, Chirag; Vyjayanthi, C.

doi:10.1016/j.jclepro.2022.131274

Cited by 27 publications

(7 citation statements)

References 20 publications

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“…A distributed market framework based on blockchain for bi‐level energy and carbon trading is presented in Huang et al 106 where the trading problem is formulated as a Stackelberg game, and the PV uncertainties and participants' privacy are considered. In Muzumdar et al, 107 smart contracts and hyperledger‐based incentivized ETS are developed where a priority‐based auction is applied and both carbon credit sellers and buyers are incentivized. Sadawi et al 12 present an efficient and transparent carbon emission trading system with automated controls.…”

Section: Application Of Blockchain In Energy Tradingmentioning

confidence: 99%

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

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The increasing trend of energy generation and management systems towards decentralized structures such as using renewable energy resources makes it necessary to use digital and smart platforms for exchanging information and even conducting financial transactions in a decentralized manner, known as the peer‐to‐peer model. The decentralized transaction verification of cryptocurrencies makes it possible to use these encrypted currencies and decentralized blockchain networks in energy management systems and carry out financial transactions related to carbon trading. Carbon and other greenhouse gas (GHG) emission trading systems reduce the competitiveness of fossil fuel projects in the market and accelerate investment in low‐carbon energy sources such as wind and photovoltaic power generation units. This market mechanism allows large entities such as countries and companies that emit GHGs into the atmosphere to buy and sell these gases. This paper reviews the blockchain solutions developed for carbon markets. Studies related to the design of smart contracts in the platform of blockchain are investigated. Special cryptocurrencies that are used in the field of green energy transactions and carbon trading are introduced. In addition, the application of artificial intelligence and game theory in energy trading is stated. The study of different blockchain frameworks for carbon trading shows that the use of decentralized platforms in carbon trading can have a significant impact on the trend towards low‐carbon measures and achieving the goals of the Kyoto Treaty, increasing the value of green cryptocurrencies and the volume of transactions. These technologies offer a promising avenue for creating a more decentralized, efficient, and environmentally conscious energy ecosystem.

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Section: Application Of Blockchain In Energy Tradingmentioning

confidence: 99%

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Parhamfar,

Sadeghkhani,

Adeli

2024

Energy Science & Engineering

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“…The innovation and change policy of the regional industrial chain can stabilize the energy supply chain by enhancing the resilience of the industrial chain, forming a complex redundant structure and a sensitive market response mechanism, and improving the adaptability to market fluctuations [46]. At the same time, China should improve its position in the global value chain, enhance the bargaining power of the domestic market, and ensure a sustainable supply of energy [47]. In addition, independent energy technology development is closely related to industry chain innovation, and regional industry chain policies provide policy support for the research and development of new energy technologies, such as "hydrogen Jilin" in Jilin Province and other projects, to promote new energy applications [48].…”

Section: The Transmission Path For the Safety And Reliability Of The ...mentioning

confidence: 99%

Can China’s Regional Industrial Chain Innovation and Reform Policy Make the Impossible Triangle of Energy Attainable? A Causal Inference Study on the Effect of Improving Industrial Chain Resilience

Lu,

2024

Energies

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This study used a double machine learning model (based on the random forest algorithm) and spatial Durbin DIDs model to conduct quasi-natural experiments. The results are as follows: (1) innovation and reform policy regarding regional industrial chains as well as their resilience can significantly and positively address the development of China’s impossible triangle coupling of energy; (2) implementing the innovation and reform policy for regional industrial chains in other regions can have a significant positive spatial transmission effect on the impossible triangle coupling coordinated development of energy in the region; (3) regional industrial chain resilience can produce a significant positive mediating effect between the innovation and reform policy of regional industrial chains and the safety, reliability, and economic feasibility of green and clean energy systems; (4) under the counterfactual framework, the mechanism path “innovation and reform policy of the regional industry chain→regional industry chain resilience→coordination degree of impossible triangle coupling of energy” has significantly positive direct and indirect effects in both the treatment group and the control group. However, “innovation and reform policy of the regional industrial chain→regional industrial chain resilience→the energy sector’s impossible triangle coupling coordination degree” and “innovation and reform policy of the regional industrial chain→leading power of the regional industrial chain→the energy sector’s impossible triangle coupling coordination degree” have significantly positive direct and indirect effects in the treatment group, but only the direct effect is significant in the control group.

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“…That is, although technological progress can advance energy efficiency and realize the effect of energy conservation, it will also reduce the unit production price and cost of products, further increasing the actual demand for and consumption of products, which eventually bring more energy consumption, resulting in additional energy consumption offsetting the energy saved by energy efficiency improvement. Under the dual constraints of ecological environment and energy supply, enterprises will make full use of the carbon emission trading market mechanism to promote energy efficiency [ 39 , 40 ]. Enterprises with high energy efficiency will sell excessive quotas to obtain additional income, and thus further uplift energy efficiency based on low-carbon technological innovation.…”

Section: Literature Reviewmentioning

confidence: 99%

The Energy Saving and Emission Reduction Effect of Carbon Trading Pilot Policy in China: Evidence from a Quasi-Natural Experiment

Zhang

2022

IJERPH

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Promoting the carbon emission trading system has been a crucial measure for China to fulfill its carbon neutrality commitment. Taking the carbon emission trading system implemented in China in 2013 as a quasi-natural experiment, based on the provincial panel data of China from 2005 to 2019, this paper adopts the difference-in-difference (DID) method and the synthetic control method (SCM) to evaluate the impact of the carbon emission trading system on energy conservation and emission reduction in pilot provinces and cities. The research findings reveal that, on the whole, the carbon emission trading system has significantly promoted the process of energy conservation and emission reduction in pilot provinces and cities. Other robustness tests, including the parallel trend test, PSM–DID stationarity test and placebo test have also been passed. Heterogeneity analysis shows that the most significant policy effects occur in Tianjin and Shanghai, followed by Hubei. The emission reduction effect of Guangdong displays a trend of first decreasing and then increasing. The test results demonstrate that the carbon emission trading system can strengthen the process of energy conservation and emission reduction by optimizing the industrial structure and energy structure. In conclusion, policy makers should coordinate the relationship between the government and the market and speed up the transformation of environmental policy from command control type to market incentive type. Meanwhile, improve the property right system and accelerate the promotion of carbon emission trading pilot policies in China according to local conditions. By encouraging technological innovation, a new market-oriented path of energy conservation and emission reduction guided by the enhancement of energy efficiency and the optimization of energy and industrial structures ought to be formed.

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A permissioned blockchain enabled trustworthy and incentivized emission trading system

Cited by 27 publications

References 20 publications

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Towards the net zero carbon future: A review of blockchain‐enabled peer‐to‐peer carbon trading

Can China’s Regional Industrial Chain Innovation and Reform Policy Make the Impossible Triangle of Energy Attainable? A Causal Inference Study on the Effect of Improving Industrial Chain Resilience

The Energy Saving and Emission Reduction Effect of Carbon Trading Pilot Policy in China: Evidence from a Quasi-Natural Experiment

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