Blockchain in Smart Energy Grids: A Market Analysis

Kapassa, Evgenia; Themistocleous, Marinos; Quintanilla, Jorge Rueda; Touloupos, Marios; Papadaki, Maria

doi:10.1007/978-3-030-63396-7_8

Cited by 13 publications

(8 citation statements)

References 33 publications

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“…Due to blockchain's nature, a stable, open and decentralized ledger could be established for all data and transactions, related to energy production and consumption [12]. In addition, smart contracts can enable transparent and immutable transactions on the IoV and promote interconnections between EVs, RSU and charging stations in a decentralized and faulttolerant environment [13]. Thus, a solution such as blockchain that does not have a central trust authority to ensure energy transactions in the IoV [14], is essential for creating a highly available, secure and privacy-protected environment.…”

Section: Blockchain Value In Iovmentioning

confidence: 99%

“…In addition, smart contracts facilitated through blockchain can enable transparent and immutable transactions on the energy grid and promote interconnections between energy producers and energy consumers (i.e., prosumers) in a decentralized and fault-tolerant environment [69]. Thus, a technology such as blockchain, which does not have a centralized trust body, becomes necessary to ensure efficient and reliable energy trading within the smart grid [13].…”

Section: Blockchain Contributions In Iov-assisted Smart Gridmentioning

confidence: 99%

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Blockchain Application in Internet of Vehicles: Challenges, Contributions and Current Limitations

et al. 2021

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Blockchain technology is highly coupled with cryptocurrencies; however, it provides several other potential use cases, related to energy and sustainability, Internet of Things (IoT), smart cities, smart mobility and more. Blockchain can offer security for Electric Vehicle (EV) transactions in the Internet of Vehicles (IoV) concept, allowing electricity trading to be performed in a decentralized, transparent and secure way. Additionally, blockchain provides the necessary functionalities for IoV decentralized application development, such as data exchange, personal digital identity, sharing economy and optimized charging pattern. Moreover, blockchain technology has the potential to significantly increase energy efficiency, decrease management costs and guarantee the effective use of the energy recourses. Therefore, its application in the IoV concept provides secure, autonomous and automated energy trading between EVs. While several studies on blockchain technology in smart grids have been conducted, insufficient attention has been given to conducting a detailed review and state-of-the-art analysis of blockchain application in the IoV domain. To this end, this work provides a systematic literature review of blockchain-based applications in the IoV domain. The aim is to investigate the current challenges of IoV and to highlight how blockchain characteristics can contribute to this emerging paradigm. In addition, limitations and future research directions related to the integration of blockchain technology within the IoV are discussed. To this end, this study incorporates the theoretical foundations of several research articles published in scientific publications over the previous five years, as a method of simplifying our assessment and capturing the ever-expanding blockchain area. We present a comprehensive taxonomy of blockchain-enabled applications in the IoV domain, such as privacy and security, data protection and management, vehicle management, charging optimization and P2P energy trading, based on a structured, systematic review and content analysis of the discovered literature, and we identify key trends and emerging areas for research. The contribution of this article is two-fold: (a) we highlight the limitations presented in the relevant literature, particularly the barriers of blockchain technology and how they influence its integration into the IoV and (b) we present a number of research gaps and suggest future exploratory areas.

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Section: Blockchain Value In Iovmentioning

confidence: 99%

Section: Blockchain Contributions In Iov-assisted Smart Gridmentioning

confidence: 99%

Blockchain Application in Internet of Vehicles: Challenges, Contributions and Current Limitations

et al. 2021

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“…Blockchain was first proposed as Bitcoin's distributed ledger to alleviate the doublespending problem. One of the most important characteristics of blockchain is that, due to its transparency and immutability, it enables participants to establish trust among unknown entities in a decentralized way [1,2]. Recently, in the area of smart mobility, blockchain has risen as an upcoming technology, enabling decentralized mobility services, secure and reliable P2P energy trading between EVs, secure authentication and more [3].…”

Section: Introductionmentioning

confidence: 99%

Blockchain Technology Applied in IoV Demand Response Management: A Systematic Literature Review

Kapassa

Themistocleous

2022

Future Internet

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Energy management in the Internet of Vehicles (IoV) is becoming more prevalent as the usage of distributed Electric Vehicles (EV) grows. As a result, Demand Response (DR) management has been introduced to achieve efficient energy management in IoV. Through DR management, EV drivers are allowed to adjust their energy consumption and generation based on a variety of parameters, such as cost, driving patterns and driving routes. Nonetheless, research in IoV DR management is still in its early stages, and the implementation of DR schemes faces a number of significant hurdles. Blockchain is used to solve some of them (e.g., incentivization, privacy and security issues, lack of interoperability and high mobility). For instance, blockchain enables the introduction of safe, reliable and decentralized Peer-to-Peer (P2P) energy trading. The combination of blockchain and IoV is a new promising approach to further improve/overcome the aforementioned limitations. However, there is limited literature in Demand Response Management (DRM) schemes designed for IoV. Therefore, there is a need for a systematic literature review (SLR) to collect and critically analyze the existing relevant literature, in an attempt to highlight open issues. Thus, in this article, we conduct a SLR, investigating how blockchain technology assists the area of DRM in IoV. We contribute to the body of knowledge by offering a set of observations and research challenges on blockchain-based DRM in IoV. In doing so, we allow other researchers to focus their work on them, and further contribute to this area.

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“…Similarly, smart grids' operational aspects cover day-to-day activities such as maintaining the internal system, resource addition, maintaining standards, performance tuning, complying with regulatory norms, managing demand-supply, and handling cybersecurity. The importance of the operational aspect of blockchain-enabled smart grid has been highlighted by various works, such as [7] through market analysis, [8] by comparing different operational parameters, [9] by highlighting asset management as a critical operational function, and [10] by proposing a vision to optimise physical operations. Other challenges might be studied using different perspectives; however, we identified a research gap concerning the challenges of blockchain-based smart grids and realised the need for a focused study to identify transactional and operational challenges.…”

Section: Introductionmentioning

confidence: 99%

Blockchain-Based Smart Renewable Energy: Review of Operational and Transactional Challenges

Nepal

Yuangyai

Gyawali³

et al. 2022

Energies

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Blockchain has peculiar characteristics among various digital technologies due to its decentralised and cryptographic properties. The combination of intelligent energy systems and blockchain can innovate new forms of transactive energy and navigate the digital journey to transform the future of renewable energy systems. This review studies various blockchain implementations in the smart energy domain and presents the findings on operational and transactional challenges in a blockchain-based smart renewable energy system. We also identify the differences between operations and transactions in smart energy systems. Furthermore, we identify the most pronounced cryptocurrencies in different studies. The findings highlighted various challenges concerning the implementation of blockchain-based smart energy systems. We identified how these challenges spawn across operational and transactional deliverables. Building on these findings, we discuss various challenges impacting the operational and transactional domains, which we believe have significant value for researchers, practitioners, policy makers, entrepreneurs, and start-ups. It will provide long-term benefits to humankind in fulfilling energy requirements, promoting sustainable energy use by developing countermeasures to combat identified challenges and leveraging the optimal use of blockchain technology.

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Blockchain in Smart Energy Grids: A Market Analysis

Cited by 13 publications

References 33 publications

Blockchain Application in Internet of Vehicles: Challenges, Contributions and Current Limitations

Blockchain Application in Internet of Vehicles: Challenges, Contributions and Current Limitations

Blockchain Technology Applied in IoV Demand Response Management: A Systematic Literature Review

Blockchain-Based Smart Renewable Energy: Review of Operational and Transactional Challenges

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