Review on Energy Application Using Blockchain Technology with an Introductions in the Pricing Infrastructure

Tariq Al-Abri; Ahmet Onen; Rashid Al-Abri; Abdulnasir Hossen; Amer Al-Hinai; Jaesung Jung; Taha Selim Ustun

doi:10.1109/ACCESS.2022.3194161

Review on Energy Application Using Blockchain Technology with an Introductions in the Pricing Infrastructure

Tariq Al-Abri, Ahmet Onen, Rashid Al-Abri, Abdulnasir Hossen, Amer Al-Hinai, Jaesung Jung^*, Taha Selim Ustun

^*Corresponding author for this work

Electrical and Computer Engineering

Research output: Contribution to journal › Article › peer-review

9 Citations (Scopus)

Abstract

With the rapid transformation of the energy sector towards modern power systems represented by smart grids (SGs), microgrids (MG), and distributed generation, blockchain (BC) technology has shown the capability for solving security, privacy, and reliability challenges that hinder progress. Currently, the energy structure is forming a decentralized system that prioritizes customer satisfaction. BC technology undertakes power network stockholders in a secure energy market, transparent transactions, and fair competition and offers promising energy solutions. This paper is a comprehensive review of energy applications using BC integration. Firstly, we introduce the drivers of BC leverage that make it a potentially important component of the power network. Following that, we provide background information on BC and its application in areas other than the energy sector. Subsequently, we discuss studies and sort potential energy applications from various recent papers and surveys that have already adopted BC technology in the energy sector. Then, we summarize the pricing infrastructure for applying BC in the energy sector and identify the requirements to build it. Finally, energy security and privacy challenges based on BC are highlighted, along with potential drawbacks and concerns related to the pricing infrastructure.

Original language	English
Pages (from-to)	80119-80137
Number of pages	19
Journal	IEEE Access
Volume	10
DOIs	https://doi.org/10.1109/ACCESS.2022.3194161
Publication status	Published - Jan 1 2022

Keywords

AI
Blockchain
IoT
microgrid
privacy
security
smart contract
smart grid

ASJC Scopus subject areas

General Engineering
General Materials Science
Electrical and Electronic Engineering
General Computer Science

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1109/ACCESS.2022.3194161

Cite this

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title = "Review on Energy Application Using Blockchain Technology with an Introductions in the Pricing Infrastructure",

abstract = "With the rapid transformation of the energy sector towards modern power systems represented by smart grids (SGs), microgrids (MG), and distributed generation, blockchain (BC) technology has shown the capability for solving security, privacy, and reliability challenges that hinder progress. Currently, the energy structure is forming a decentralized system that prioritizes customer satisfaction. BC technology undertakes power network stockholders in a secure energy market, transparent transactions, and fair competition and offers promising energy solutions. This paper is a comprehensive review of energy applications using BC integration. Firstly, we introduce the drivers of BC leverage that make it a potentially important component of the power network. Following that, we provide background information on BC and its application in areas other than the energy sector. Subsequently, we discuss studies and sort potential energy applications from various recent papers and surveys that have already adopted BC technology in the energy sector. Then, we summarize the pricing infrastructure for applying BC in the energy sector and identify the requirements to build it. Finally, energy security and privacy challenges based on BC are highlighted, along with potential drawbacks and concerns related to the pricing infrastructure.",

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Review on Energy Application Using Blockchain Technology with an Introductions in the Pricing Infrastructure

Abstract

Keywords

ASJC Scopus subject areas

UN SDGs

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