Toward Blockchain Technology in the Energy Environment

Abstract

Energy management and exchange have increasingly shifted from concentrated to hierarchical modes. Numerous issues have arisen in the decentralized energy sector, including the storage of customer data and the need to ensure data integrity, fairness, and accountability in the transaction phase. The problem is that in the field of the innovative technology of blockchain and its applications, with the energy sector still in the developmental stages, there is still a need for more research to understand the full capacity of the technology in the field. The main aim of this work was to investigate the state of the current research of blockchain technologies as well as their application within the field of energy. This work also set out to identify certain research gaps and provide a set of recommendations for future directions. Among these research gaps is the application of blockchain in decentralized storage, the integration of blockchain with artificial intelligence, and security and privacy concerns, which have not received much attention despite their importance. An analysis of fifty-seven carefully reviewed studies revealed that the emerging blockchain which provides privacy-protection technologies in cryptography and other areas that can be integrated to address users’ privacy concerns is another aspect that needs further investigation. Grid operations, economies, and customers will all learn from blockchain technology as it provides disintermediation, confidentiality, and tamper-proof transfers. Moreover, it provides innovative ways for customers and small solar generators to participate more actively in the electricity sector and to benefit from their properties. Blockchains are a rapidly evolving field of research and growth. A study of this emerging technology is necessary to increase comprehension, to educate the body of expertise on blockchains, and to realize its potential. This study recommends that future work investigates the potential application of blockchain in the energy sector as well as the challenges that face its implementation from the perspective of policy makers. This future approach will enable researchers to direct their focus to the case studies approach, which will facilitate and ease the application of blockchain technology.

Using Blockchain and Artificial Intelligence in Energy Management as a Tool to Achieve Energy Efficiency

“…5, No. 3, 2022 management of the energy system as a whole (Baashar et al, 2021). To maintain consistency with the law and the rights of customers, smart contracts should be incorporated into the legal code.…”

AI explainability and governance in smart energy systems: A review

“…This parameter is about improving the performance of AI applications for smart grids by integrating them with IoT and Blockchain technologies to obtain reliable and fair solutions. It captures various dimensions of "Blockchain," including the management of electricity demand in smart grids using blockchain as a trustworthy platform (Jose et al, 2022), accountability and fairness in the energy environment using blockchain (Baashar et al, 2021), and using trustworthy blockchain-based federated learning to fight malicious devices with significant efficacy and low energy demand (Yang et al, 2022). Further dimensions include reliable, fair, and secure solutions for energy applications using blockchain (Al-Abri et al, 2022), providing data privacy and fairness via the use of blockchain and AI-powered IoT for energy management and power trading (Lin et al, 2022), a blockchain-based framework for privacy and security in energy networks, and attack detection.…”

Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges

“…Thanks to BCT and smart contracts, energy demand and supply can be balanced in P2P trading while transaction costs-those associated with the exchange of goods and services-are reduced [65,72]. Indeed, BCT consensus mechanisms and smart contracts can change two main features of transaction costs: human specificity and time specificity [73].…”

“…BCT-based P2P energy trading also implies the management of a large amount of user data, which might raise confidentiality issues [17,72]. Because BCT is designed to ensure the integrity of verifiable transactions, all transaction data on the BCT are visible to the participating nodes [110].…”