Abstract
Blockchain technology, which has affected almost every industry and the business model, takes no exemption of the vast energy sector. Energy businesses in the world have already started reconnoitering the use of blockchain technology in various applications. The applications range from P2P energy trading, asset management, and demand and supply chain tracking. Moreover, with precise reliability alongside security requirements, the application range of the energy sector is relatively narrow. The article aims to define and show the environment and methodology for applying blockchain principles for solving operational technology challenges at energy utilities and for a much closer analysis of all the possible integrations between the energy sector and blockchain, an efficient, conservative, and self-sufficient energy industry. Moreover, this paper analyzes and reviews two innovative application-specific use cases of blockchain in the energy sector and one highly competent solidity code, which could revolutionize the energy sector.
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Devi, K.M., Sai, D.S., Rao, N.T., Swathi, K., Voddi, S. (2023). Blockchain and Its Idiosyncratic Effects on Energy Consumption and Conservation. In: Ogudo, K.A., Saha, S.K., Bhattacharyya, D. (eds) Smart Technologies in Data Science and Communication. Lecture Notes in Networks and Systems, vol 558. Springer, Singapore. https://doi.org/10.1007/978-981-19-6880-8_28
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DOI: https://doi.org/10.1007/978-981-19-6880-8_28
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