IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i17p12870-d1225190.html
   My bibliography  Save this article

Green Power Consumption Digital Identification System Based on Blockchain Technology

Author

Listed:
  • Gehui Li

    (School of Management, Xi’an Jiaotong University, Xi’an 710049, China)

  • Jing Yang

    (State Grid Shanghai Municipal Electric Power Company, Shanghai 200122, China)

  • Tao Yu

    (State Grid Shanghai Municipal Electric Power Company, Shanghai 200122, China)

  • Fuquan Yang

    (School of Software Engineering, Xi’an Jiaotong University, Xi’an 710049, China)

  • Xiaoni Lu

    (School of Management, Xi’an Jiaotong University, Xi’an 710049, China)

  • Zhuyu Shi

    (State Grid Digital Technology Holding Co., Ltd., Beijing 100053, China)

Abstract

In China, the promulgation of a green power identification system has gradually shifted from electricity power generation to consumption. However, there is no mature digital identification system for green power consumption enterprises. Exploiting the open, transparent, and immutable characteristics of blockchains, this study establishes a digital identification system for green power consumption based on blockchain technology. This system uses expert scoring and the entropy weight method as the evaluation algorithm for the green power consumption chain, issues non-fungible tokens as digital identification for consumption enterprises, and realizes the automatic generation of identification through smart contracts. These functions guarantee the credibility of the certification process and the uniqueness of the generated identification. The results of the experiments show that, in the case of multi-user concurrent requests, the number of concurrent users that the system could handle at optimal processing efficiency was 500, and block generation was stable. The proposed system has high practicability and stability.

Suggested Citation

  • Gehui Li & Jing Yang & Tao Yu & Fuquan Yang & Xiaoni Lu & Zhuyu Shi, 2023. "Green Power Consumption Digital Identification System Based on Blockchain Technology," Sustainability, MDPI, vol. 15(17), pages 1-18, August.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:17:p:12870-:d:1225190
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/17/12870/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/17/12870/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dowling, Michael, 2022. "Fertile LAND: Pricing non-fungible tokens," Finance Research Letters, Elsevier, vol. 44(C).
    2. Dowling, Michael, 2022. "Is non-fungible token pricing driven by cryptocurrencies?," Finance Research Letters, Elsevier, vol. 44(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wang, Jying-Nan & Lee, Yen-Hsien & Liu, Hung-Chun & Hsu, Yuan-Teng, 2023. "Dissecting returns of non-fungible tokens (NFTs): Evidence from CryptoPunks," The North American Journal of Economics and Finance, Elsevier, vol. 65(C).
    2. Theodore Panagiotidis & Georgios Papapanagiotou, 2024. "A note on the determinants of NFTs returns," Working Paper series 24-07, Rimini Centre for Economic Analysis.
    3. Yencha, Christopher, 2023. "Spatial heterogeneity and non-fungible token sales: Evidence from Decentraland LAND sales," Finance Research Letters, Elsevier, vol. 58(PA).
    4. Serneels, Sven, 2023. "Detecting wash trading for nonfungible tokens," Finance Research Letters, Elsevier, vol. 52(C).
    5. Andrea Barbon & Angelo Ranaldo, 2023. "NFT Bubbles," Swiss Finance Institute Research Paper Series 23-20, Swiss Finance Institute.
    6. Wilson, Kathleen Bridget & Karg, Adam & Ghaderi, Hadi, 2022. "Prospecting non-fungible tokens in the digital economy: Stakeholders and ecosystem, risk and opportunity," Business Horizons, Elsevier, vol. 65(5), pages 657-670.
    7. Kanis Saengchote, 2022. "Cryptocurrency bubbles, the wealth effect, and non-fungible token prices: Evidence from metaverse LAND," Papers 2209.04385, arXiv.org.
    8. Proelss, Juliane & Sévigny, Stéphane & Schweizer, Denis, 2023. "GameFi: The perfect symbiosis of blockchain, tokens, DeFi, and NFTs?," International Review of Financial Analysis, Elsevier, vol. 90(C).
    9. Juan Carlos López-Pimentel & Luis Alberto Morales-Rosales & Ignacio Algredo-Badillo & Carolina Del-Valle-Soto, 2023. "NFT-Vehicle: A Blockchain-Based Tokenization Architecture to Register Transactions over a Vehicle’s Life Cycle," Mathematics, MDPI, vol. 11(13), pages 1-29, June.
    10. Menvouta, Emmanuel Jordy & Serneels, Sven & Verdonck, Tim, 2023. "Practicable optimization for portfolios that contain nonfungible tokens," Finance Research Letters, Elsevier, vol. 55(PB).
    11. Horky, Florian & Rachel, Carolina & Fidrmuc, Jarko, 2022. "Price determinants of non-fungible tokens in the digital art market," Finance Research Letters, Elsevier, vol. 48(C).
    12. Wesley Joon-Wie Tann & Akhil Vuputuri & Ee-Chien Chang, 2022. "Projecting Non-Fungible Token (NFT) Collections: A Contextual Generative Approach," Papers 2210.15493, arXiv.org, revised Feb 2023.
    13. Zhang, Wenting & Liu, Tiantian & Zhang, Yulian & Hamori, Shigeyuki, 2024. "Can NFTs hedge the risk of traditional assets after the COVID-19 pandemic?," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).
    14. Lin, Min-Bin & Wang, Bingling & Bocart, Fabian Y.R.P. & Hafner, Christian M. & Härdle, Wolfgang K., 2022. "DAI Digital Art Index : a robust price index for heterogeneous digital assets," LIDAM Discussion Papers ISBA 2022036, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
    15. Ghosh, Bikramaditya & Bouri, Elie & Wee, Jung Bum & Zulfiqar, Noshaba, 2023. "Return and volatility properties: Stylized facts from the universe of cryptocurrencies and NFTs," Research in International Business and Finance, Elsevier, vol. 65(C).
    16. Bao, Te & Ma, Mengzhong & Wen, Yonggang, 2023. "Herding in the non-fungible token (NFT) market," Journal of Behavioral and Experimental Finance, Elsevier, vol. 39(C).
    17. Urom, Christian & Ndubuisi, Gideon & Guesmi, Khaled, 2022. "Dynamic dependence and predictability between volume and return of Non-Fungible Tokens (NFTs): The roles of market factors and geopolitical risks," Finance Research Letters, Elsevier, vol. 50(C).
    18. Chowdhury, Mohammad Ashraful Ferdous & Abdullah, Mohammad & Alam, Masud & Abedin, Mohammad Zoynul & Shi, Baofeng, 2023. "NFTs, DeFi, and other assets efficiency and volatility dynamics: An asymmetric multifractality analysis," International Review of Financial Analysis, Elsevier, vol. 87(C).
    19. Nobanee, Haitham & Ellili, Nejla Ould Daoud, 2023. "Non-fungible tokens (NFTs): A bibliometric and systematic review, current streams, developments, and directions for future research," International Review of Economics & Finance, Elsevier, vol. 84(C), pages 460-473.
    20. Zhang, Z. John, 2023. "Cryptopricing: Whence comes the value for cryptocurrencies and NFTs?," International Journal of Research in Marketing, Elsevier, vol. 40(1), pages 22-29.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:17:p:12870-:d:1225190. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.