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Electricity powered by blockchain : A review with a European perspective

Title data

Roth, Tamara ; Utz, Manuel ; Baumgarte, Felix ; Rieger, Alexander ; Sedlmeir, Johannes ; Strüker, Jens:
Electricity powered by blockchain : A review with a European perspective.
In: Applied Energy. Vol. 325 (2022) . - No. 119799.
ISSN 1872-9118
DOI: https://doi.org/10.1016/j.apenergy.2022.119799

Official URL: Volltext

Project information

Project title:
Project's official titleProject's id
Projektgruppe WI BLockchain-LaborNo information
Projektgruppe WI Nachhaltiges Energiemanagement & MobilitätNo information

Abstract in another language

Blockchain is no longer just a hype technology, and effective blockchain applications exist in many industries. Yet, few blockchain projects have been successful in Europe’s energy systems. To identify the reasons for this slow progress, we reviewed the recent energy literature regarding the use of blockchain, analyzed industry reports, and interviewed experts who have conducted blockchain projects in Europe’s energy systems. Our analysis reveals eight common use cases, their expected benefits, and the challenges encountered. We find that the expected benefits are often little more than generic hopes, largely outweighed by technological, organizational, and regulatory challenges. The identified challenges are significant and numerous, especially for peer-to-peer trading and microgrid use cases. The fact that few projects have yet provided robust evidence for profitable use suggests there is still a rocky road ahead. Moreover, many use cases appear to require more than just blockchain technology to succeed. In particular, privacy and scalability requirements often call for systems in which blockchains only take a backseat. This realization may be essential for the future use of blockchain technology in energy systems – in Europe and beyond.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Blockchain; Benefits; Challenges; Energy Systems; Machine Identities; Systematic Literature Review
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professor Information Systems and Digital Energy Management
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professor Information Systems and Digital Energy Management > Professor Information Systems and Digital Energy Management - Univ.-Prof. Dr. Jens Strüker
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 14 Sep 2022 05:42
Last Modified: 14 Sep 2022 05:42
URI: https://eref.uni-bayreuth.de/id/eprint/71832