The fifth archetype of electricity market: the blockchain marketplace

Xu, Yi; Ahokangas, Petri; Yrjölä, Seppo; Koivumäki, Timo

doi:10.1007/s11276-019-02065-9

Cited by 24 publications

(15 citation statements)

References 63 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Xu et. al [36] explore the use case of blockchain marketplace in electricity and smart grid domain. They present a theoretical business model archetype for energy market in accordance with EU's Smart Grid Architecture Model (SGAM).…”

Section: Related Work and State-of-the-artmentioning

confidence: 99%

FAST DATA: A Fair, Secure, and Trusted Decentralized IIoT Data Marketplace Enabled by Blockchain

Dixit

Singh

Rahulamathavan

et al. 2023

IEEE Internet Things J.

View full text Add to dashboard Cite

As the world calls it, data is the new oil. With vast installments of Industrial Internet-of-Things (IIoT) infrastructure, data is produced at a rate like never before. Similarly, artificial intelligence (AI) and machine learning (ML) solutions are getting integrated to numerous services, making them "smarter". However, the data remains fragmented in individual organizational silos inhibiting data value extraction to it's full potential. Digital marketplaces are emerging to allow data owners to monetize this data. Yet concerns like privacy, security and unfair payment settlement deter adoption of such platforms. In addition, the state-of-the-art platforms are under the control of large multinational corporations with no transparency between buyer and seller in terms of payment details, listing, data discovery and storage. In this work, a novel decentralized platform of digital data marketplace for IoT data has been proposed. The platform leverages a decentralized data streaming network to host IoT data in a reliable and fault tolerant manner. The platform ensures fair trading, data storage and delivery in a privacy preserving manner and trust metric calculation for actors in the network. In order to study the feasibility of the proposed platform, an open source library is developed using Hyperledger Fabric and data network layer built on VerneMQ, the library is deployed on a real-time Google cloud platform. The library is tested and results are analysed for throughput, overheads and scalability.

show abstract

Section: Related Work and State-of-the-artmentioning

confidence: 99%

FAST DATA: A Fair, Secure, and Trusted Decentralized IIoT Data Marketplace Enabled by Blockchain

Dixit

Singh

Rahulamathavan

et al. 2023

IEEE Internet Things J.

View full text Add to dashboard Cite

show abstract

“…e research results show that the block chain technology can improve the power supply elasticity of distributed generation, stabilize the supply efficiency of power grid, and thus improve the energy transaction efficiency. e study in [7] analyzed and compared the four mainstream trading modes of China's power market. On this basis, he integrated block chain technology, proposed the basic development ideas of smart grid, and emphasized the important impact of smart grid on power demand management.…”

Section: Literature Reviewmentioning

confidence: 99%

Distributed Power Trading System Based on Blockchain Technology

2021

View full text Add to dashboard Cite

The power trading system has the characteristics of nonlinearity, dynamics, and complexity. Part of the business data in the trading system needs to be exposed to numerous external business systems. The traditional centralized power trading model has some problems, such as low data security and trust crisis of regulators. Blockchain technology provides prominent ideas for solving these problems. Firstly, the improved AdaBoost algorithm is used to predict the supply and demand gap of power trading nodes. Secondly, based on the fact that the information on the blockchain is only open to the power supply side, a two-stage game model of asymmetric information between the power supply side and the power user is constructed to capture the price competition behavior between them in order to find the Nash equilibrium price in two stages. Finally, the US PJM market electricity market data are used to carry out an example analysis to verify the effectiveness of the algorithm and model.

show abstract

“…Previous literature [2] only gives a proposition that AI technology can transform the energy market operation without providing details and in-depth discussion. This research gap is filled in this research, including discussing how AI and blockchain can transform the further electricity market based on the extant studies of [38][39][40].…”

Section: Research Gaps Relevant To the Studymentioning

confidence: 99%

Electricity Market Empowered by Artificial Intelligence: A Platform Approach

Ahokangas

Louis

et al. 2019

Energies

Self Cite

View full text Add to dashboard Cite

Artificial intelligence (AI) techniques and algorithms are increasingly being utilized in energy and renewable research to tackle various engineering problems. However, a majority of the AI studies in the energy domain have been focusing on solving specific technical issues. There is limited discussion on how AI can be utilized to enhance the energy system operations, particularly the electricity market, with a holistic view. The purpose of the study is to introduce the platform architectural logic that encompasses both technical and economic perspectives to the development of AI-enabled energy platforms for the future electricity market with massive and distributed renewables. A constructive and inductive approach for theory building is employed for the concept proposition of the AI energy platform by using the aggregated data from a European Union (EU) Horizon 2020 project and a Finnish national innovation project. Our results are presented as a systemic framework and high-level representation of the AI-enabled energy platform design with four integrative layers that could enable not only value provisioning but also value utilization for a distributed energy system and electricity market as the new knowledge and contribution to the extant research. Finally, the study discusses the potential use cases of the AI-enabled energy platform.

show abstract

The fifth archetype of electricity market: the blockchain marketplace

Cited by 24 publications

References 63 publications

FAST DATA: A Fair, Secure, and Trusted Decentralized IIoT Data Marketplace Enabled by Blockchain

FAST DATA: A Fair, Secure, and Trusted Decentralized IIoT Data Marketplace Enabled by Blockchain

Distributed Power Trading System Based on Blockchain Technology

Electricity Market Empowered by Artificial Intelligence: A Platform Approach

Contact Info

Product

Resources

About