Blockchain in Solar Energy
##plugins.themes.bootstrap3.article.sidebar##
Published
Mar 1, 2019
##plugins.themes.bootstrap3.article.main##
Abstract
Blockchain technology disrupts existing business models and practices in different sectors of the economy. It has the potential to revolutionize the way we do business, and it can be combined with other technologies like Internet of Things (IoT) or Artificial Intelligence (AI) to increase its disruptive effect. In this paper we study the impact of the implementation of a blockchain solution in the area of solar energy. The results of this research demonstrate that blockchain technology can disrupt the energy sector in various ways including, among others, disruption in process, product, position and paradigm, and platform innovation.
##plugins.themes.bootstrap3.article.details##
Keywords
blockchain technology, smart contracts, solar energy, action research, disruptive innovation
References
Avison D., Baskerville R. and Myers M.D. (2007) ‘The Structure of Power in Action Research Projects’. In N. Kock (eds) Information Systems Action Research. Integrated Series in Information Systems, Vol. 13. New York, NY: Springer.
Bloomberg, J. (2018) ‘Eight Reasons To Be Skeptical About Blockchain’. Forbes.com. Available at https://https://www.forbes.com/sites/jasonbloomberg/2017/05/31/eight-reasonsto-be-skeptical-about-blockchain, accessed 21 January 2018.
Christidis, K. and Devetsikiotis, M. (2016), ‘Blockchains and Smart Contracts for the Internet of Things’. IEEE Access, 4: 2292–2303. DOI.org:10.1109/ACCESS.2016.2566339.
Cocco, L., Pinna, A. and Marchesi, M. (2017), ‘Banking on blockchain: Costs savings thanks to the blockchain technology’, Future Internet, Vol. 9, No. 3: 1–20. DOI.org: 10.3390/ fi9030025.
Cuccuru, P. (2017) ‘Beyond bitcoin: an early overview on smart contracts’, International Journal of Law and Information Technology, Vol. 25, No. 3: 179–195. DOI.org: 10.1093/ijlit/eax003.
Dai, J. and Vasarhelyi, M. A. (2017), ‘Toward blockchain-based accounting and assurance’, Journal of Information Systems, Vol. 31, No. 3: 5–21
Delgado-Segura, S., Pιrez-Solΰ, C., Navarro-Arribas, G. and Herrera-Joancomartν, J. (2017), ‘A fair protocol for data trading based on Bitcoin transactions’, Future Generation Computer Systems. DOI.org: 10.1016/j.future.2017.08.021.
Dorri, A., Steger, M., Kanhere, S. S. and Jurdak, R. (2017), ‘BlockChain: A Distributed Solution to Automotive Security and Privacy’, IEEE Communications Magazine, Vol. 55, No. 12: 119– 125. DOI.org: 10.1109/MCOM.2017.1700879.
Gomber, P., Kauffman, R. J., Parker, C. and Weber, B. W. (2018), ‘On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services’, Journal of Management Information Systems, Vol. 35, No. 1: 220–265.
Kshetri, N. (2017), ‘Can Blockchain Strengthen the Internet of Things?’, IT Professional, Vol. 19, No. 4: 68–72.
Lei, A., Cruickshank, H., Cao, Y., Asuquo, P., Ogah, C. P. A. and Sun, Z. (2017), ‘BlockchainBased Dynamic Key Management for Heterogeneous Intelligent Transportation Systems’, IEEE Internet of Things Journal, Vol. 4662(c): 1–12.
Lemieux, V. L. (2016), ‘Trusting records: is Blockchain technology the answer?’, Records Management Journal, Vol. 26, No. 2: 110–139.
Li, G., Meng, H., Zhou, G. and Gao, Y. (2018) ‘Energy management analysis and scheme design of microgrid based on blockchain’. Dianli Jianshe/Electric Power Construction, Vol. 39, No. 2: 43–49.
Nakamoto, S. (2008) ‘Bitcoin: A peer-to-peer electronic cash system’, http://www.bitcoin.org.
Novo, O. (2018), ‘Blockchain Meets IoT: an Architecture for Scalable Access Management in IoT’, IEEE Internet of Things Journal, Vol. 5, No. 2: 1184–1195.
O’Dair, M. and Beaven, Z. (2017) ‘The networked record industry: How blockchain technology could transform the record industry’. Strategic Change, Vol. 26, No. 5: 471–480.
Pop, C., Cioara, T., Antal, M., Anghel, I., Salomie, I. and Bertoncini, M. (2018), ‘Blockchain based decentralized management of demand response programs in smart energy grids’, Sensors (Switzerland), Vol. 18: 162, DOI.org: 10.3390/s18010162.
Rapoport, R. (1970) ‘Three Dilemmas of Action Research’. Human Relations, Vol. 23, No. 6: 499-513.
Shermin, V. (2017), ‘Disrupting governance with blockchains and smart contracts’. Strategic Change, Vol. 26, No. 5: 499–509.
Tidd, J., and Bessant, J. (2013) Managing Innovation: Integrating Technological, Market and Organizational Change, 5th ed. Chichester: Wiley.
Bloomberg, J. (2018) ‘Eight Reasons To Be Skeptical About Blockchain’. Forbes.com. Available at https://https://www.forbes.com/sites/jasonbloomberg/2017/05/31/eight-reasonsto-be-skeptical-about-blockchain, accessed 21 January 2018.
Christidis, K. and Devetsikiotis, M. (2016), ‘Blockchains and Smart Contracts for the Internet of Things’. IEEE Access, 4: 2292–2303. DOI.org:10.1109/ACCESS.2016.2566339.
Cocco, L., Pinna, A. and Marchesi, M. (2017), ‘Banking on blockchain: Costs savings thanks to the blockchain technology’, Future Internet, Vol. 9, No. 3: 1–20. DOI.org: 10.3390/ fi9030025.
Cuccuru, P. (2017) ‘Beyond bitcoin: an early overview on smart contracts’, International Journal of Law and Information Technology, Vol. 25, No. 3: 179–195. DOI.org: 10.1093/ijlit/eax003.
Dai, J. and Vasarhelyi, M. A. (2017), ‘Toward blockchain-based accounting and assurance’, Journal of Information Systems, Vol. 31, No. 3: 5–21
Delgado-Segura, S., Pιrez-Solΰ, C., Navarro-Arribas, G. and Herrera-Joancomartν, J. (2017), ‘A fair protocol for data trading based on Bitcoin transactions’, Future Generation Computer Systems. DOI.org: 10.1016/j.future.2017.08.021.
Dorri, A., Steger, M., Kanhere, S. S. and Jurdak, R. (2017), ‘BlockChain: A Distributed Solution to Automotive Security and Privacy’, IEEE Communications Magazine, Vol. 55, No. 12: 119– 125. DOI.org: 10.1109/MCOM.2017.1700879.
Gomber, P., Kauffman, R. J., Parker, C. and Weber, B. W. (2018), ‘On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption, and Transformation in Financial Services’, Journal of Management Information Systems, Vol. 35, No. 1: 220–265.
Kshetri, N. (2017), ‘Can Blockchain Strengthen the Internet of Things?’, IT Professional, Vol. 19, No. 4: 68–72.
Lei, A., Cruickshank, H., Cao, Y., Asuquo, P., Ogah, C. P. A. and Sun, Z. (2017), ‘BlockchainBased Dynamic Key Management for Heterogeneous Intelligent Transportation Systems’, IEEE Internet of Things Journal, Vol. 4662(c): 1–12.
Lemieux, V. L. (2016), ‘Trusting records: is Blockchain technology the answer?’, Records Management Journal, Vol. 26, No. 2: 110–139.
Li, G., Meng, H., Zhou, G. and Gao, Y. (2018) ‘Energy management analysis and scheme design of microgrid based on blockchain’. Dianli Jianshe/Electric Power Construction, Vol. 39, No. 2: 43–49.
Nakamoto, S. (2008) ‘Bitcoin: A peer-to-peer electronic cash system’, http://www.bitcoin.org.
Novo, O. (2018), ‘Blockchain Meets IoT: an Architecture for Scalable Access Management in IoT’, IEEE Internet of Things Journal, Vol. 5, No. 2: 1184–1195.
O’Dair, M. and Beaven, Z. (2017) ‘The networked record industry: How blockchain technology could transform the record industry’. Strategic Change, Vol. 26, No. 5: 471–480.
Pop, C., Cioara, T., Antal, M., Anghel, I., Salomie, I. and Bertoncini, M. (2018), ‘Blockchain based decentralized management of demand response programs in smart energy grids’, Sensors (Switzerland), Vol. 18: 162, DOI.org: 10.3390/s18010162.
Rapoport, R. (1970) ‘Three Dilemmas of Action Research’. Human Relations, Vol. 23, No. 6: 499-513.
Shermin, V. (2017), ‘Disrupting governance with blockchains and smart contracts’. Strategic Change, Vol. 26, No. 5: 499–509.
Tidd, J., and Bessant, J. (2013) Managing Innovation: Integrating Technological, Market and Organizational Change, 5th ed. Chichester: Wiley.
Section
Articles
Copyright: © University of Nicosia, Cyprus
All rights reserved.
No restrictions on photo-copying.
Quotations from The Cyprus Review are welcome, but acknowledgement of the source must be given.
How to Cite
“Blockchain in Solar Energy”. 2019. Cyprus Review 30 (2): 203-12. https://cyprusreview.org/index.php/cr/article/view/580.