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Blockchain and the future of energy

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  • Brilliantova, Vlada
  • Thurner, Thomas Wolfgang

Abstract

This paper discusses the emergence of blockchain technology in the energy sector in the light of ongoing energy market transformation. The study builds on literature research and expert interviews, and provides insights into the future energy landscape in the context of the blockchain advent. While the interviewees acknowledge the great, though disruptive, potential of blockchain technology for the primary activities in the electricity sector, there is agreement that inflexible regulatory frameworks impose the biggest challenge. The widest impact which blockchain technology will have in the short-term will be in electric vehicle integration, while in the long-term blockchain will enable peer-to-peer microgrids. The role that the blockchain will play, though, relies mainly on the business model innovation in energy. While a growing body of literature discusses specific blockchain applications and solutions in an advanced technological set-up, this paper presents a holistic picture of the blockchain applicability in the energy sector and thematises this very powerful and versatile technology against the background of two emerging economies: South Africa and Russia.

Suggested Citation

  • Brilliantova, Vlada & Thurner, Thomas Wolfgang, 2019. "Blockchain and the future of energy," Technology in Society, Elsevier, vol. 57(C), pages 38-45.
    • Handle: RePEc:eee:teinso:v:57:y:2019:i:c:p:38-45
    DOI: 10.1016/j.techsoc.2018.11.001
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    References listed on IDEAS

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    1. Khaqqi, Khamila Nurul & Sikorski, Janusz J. & Hadinoto, Kunn & Kraft, Markus, 2018. "Incorporating seller/buyer reputation-based system in blockchain-enabled emission trading application," Applied Energy, Elsevier, vol. 209(C), pages 8-19.
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    5. Thomas Thurner & Liliana Nikolaevna Proskuryakova, 2014. "Out of the Cold – the Rising Importance of Environmental Management in the Corporate Governance of Russian Oil and Gas Producers," Business Strategy and the Environment, Wiley Blackwell, vol. 23(5), pages 318-332, July.
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