Eighteen percent of the world’s population do not have access to electricity, impeding economic, social, and human development. The electricity access challenge can be attributed to the significant investment gap needed to finance new power projects, requiring new and innovative financing options. Independent Power Projects, funded, built, owned, and operated by the private sector and constituted via a special purpose vehicle—a legal entity whose sole purpose is implementing a power project—have become one of the fastest-growing sources of investment in the electricity sector. The limitations of traditional finance sources, including high credit, liquidity, margining, third-party, legal, and process risks, means that funds for these projects are expensive and raised only after a long and arduous process. The present article addresses these challenges by describing a novel decentralized autonomous organization, a blockchain-agnostic special purpose vehicle underpinned by a trio of autonomous mechanisms—mobilization, collateralization, andsettlement. These mechanisms enable seamless finance mobilization for the special purpose vehicle from a location-independent crowd, revenue collection from the electricity buyer in a risk-mitigated manner, and disbursal of eventual project revenues to investors.
Connected and Autonomous Vehicles (CAVs) are introduced to improve individuals’ quality of life by offering a wide range of services. They collect a huge amount of data and exchange them with each other and the infrastructure. The collected data usually includes sensitive information about the users and the surrounding environment. Therefore, data security and privacy are among the main challenges in this industry. Blockchain, an emerging distributed ledger, has been considered by the research community as a potential solution for enhancing data security, integrity, and transparency in Intelligent Transportation Systems (ITS). However, despite the emphasis of governments on the transparency of personal data protection practices, CAV stakeholders have not been successful in communicating appropriate information with the end users regarding the procedure of collecting, storing, and processing their personal data, as well as the data ownership. This article provides a vision of the opportunities and challenges of adopting blockchain in ITS from the “data transparency” and “privacy” perspective. The main aim is to answer the following questions: (1) Considering the amount of personal data collected by the CAVs, such as location, how would the integration of blockchain technology affect transparency , fairness , and lawfulness of personal data processing concerning the data subjects (as this is one of the main principles in the existing data protection regulations)? (2) How can the trade-off between transparency and privacy be addressed in blockchain-based ITS use cases?
Abstract Alongside the rise of ‘last-mile’ delivery in contemporary urban logistics, drones have demonstrate commercial potential, given their outstanding triple-bottom-line performance. However, as a lithium-ion battery-powered device, drones’ social and environmental merits can be overturned by battery recycling and disposal. To maintain economic performance, yet minimise environmental negatives, fleet sharing is widely applied in the transportation field, with the aim of creating synergies within industry and increasing overall fleet use. However, if a sharing platform’s transparency is doubted, the sharing ability of the platform will be discounted. Known for its transparent and secure merits, blockchain technology provides new opportunities to improve existing sharing solutions. In particular, the decentralised structure and data encryption algorithm offered by blockchain allow every participant equal access to shared resources without undermining security issues. Therefore, this study explores the implementation of a blockchain-enabled fleet sharing solution to optimise drone operations, with consideration of battery wear and disposal effects. Unlike classical vehicle routing with fleet sharing problems, this research is more challenging, with multiple objectives (i.e., shortest path and fewest charging times), and considers different levels of sharing abilities. In this study, we propose a mixed-integer programming model to formulate the intended problem and solve the problem with a tailored branch-and-price algorithm. Through extensive experiments, the computational performance of our proposed solution is first articulated, and then the effectiveness of using blockchain to improve overall optimisation is reflected, and a series of critical influential factors with managerial significance are demonstrated.
Evgenia Kapassa, Marinos Themistocleous, Klitos Christodoulou, Elias Iosif
Blockchain technology is highly coupled with cryptocurrencies; however, it provides several other potential use cases, related to energy and sustainability, Internet of Things (IoT), smart cities, smart mobility and more. Blockchain can offer security for Electric Vehicle (EV) transactions in the Internet of Vehicles (IoV) concept, allowing electricity trading to be performed in a decentralized, transparent and secure way. Additionally, blockchain provides the necessary functionalities for IoV decentralized application development, such as data exchange, personal digital identity, sharing economy and optimized charging pattern. Moreover, blockchain technology has the potential to significantly increase energy efficiency, decrease management costs and guarantee the effective use of the energy recourses. Therefore, its application in the IoV concept provides secure, autonomous and automated energy trading between EVs. While several studies on blockchain technology in smart grids have been conducted, insufficient attention has been given to conducting a detailed review and state-of-the-art analysis of blockchain application in the IoV domain. To this end, this work provides a systematic literature review of blockchain-based applications in the IoV domain. The aim is to investigate the current challenges of IoV and to highlight how blockchain characteristics can contribute to this emerging paradigm. In addition, limitations and future research directions related to the integration of blockchain technology within the IoV are discussed. To this end, this study incorporates the theoretical foundations of several research articles published in scientific publications over the previous five years, as a method of simplifying our assessment and capturing the ever-expanding blockchain area. We present a comprehensive taxonomy of blockchain-enabled applications in the IoV domain, such as privacy and security, data protection and management, vehicle management, charging optimization and P2P energy trading, based on a structured, systematic review and content analysis of the discovered literature, and we identify key trends and emerging areas for research. The contribution of this article is two-fold: (a) we highlight the limitations presented in the relevant literature, particularly the barriers of blockchain technology and how they influence its integration into the IoV and (b) we present a number of research gaps and suggest future exploratory areas.
Vehicles on the road, where an Intelligent Transportation System (ITS) is built, can share a lot of traffic information and drive more safely and efficiently through data sharing. Since incorrect information misleads vehicles and causes confusion in traffic, a vehicular trust model is needed to check the message’s trustworthiness while considering the vehicle’s properties and protecting its privacy. In this paper, we proposed a two layered blockchain-based reputation system, which consists of a local one-day message blockchain and a global vehicle reputation blockchain. It can administrate the reputation score securely and preserve the vehicle’s partial privacy. The proposed model efficiently manages local traffic information through the local one-day blockchain, reducing the memory overhead of vehicles. As the vehicle’s actual identity and activities in other areas are hidden by using one-time public keys, partial privacy of the vehicle is preserved. According to the activity of the vehicle, the vehicle’s reputation score is updated and stored permanently in the global reputation blockchain. We also suggested the location-based practical byzantine fault tolerance (LPBFT), a new consensus algorithm for fast block generating. The LPBFT lowers message propagation time through location-based primary node selection and is about 1.4 times faster than existing PBFT. The simulation results show the efficiency and the feasibility of LPBFT and our proposed protocol.
Today’s cities face numerous challenges due to climate change and urbanization. The concept of a smart city aims to help cities to address these challenges by adapting modern information and communication technology. Smart mobility and transportation form one important aspect of smart cities. Inefficient mobility in cities can lead to problems such as traffic congestion, which results in frustration for residents and a decrease in the quality of life. Against the backdrop of global warming, cities also strive to reduce CO2 emissions, an attempt which requires sustainable and novel mobility concepts. Blockchain is a current technology, said to have huge potential, that is being investigated for application in many facets of smart cities. In the context of smart mobility, blockchain can be used for transactions relating to ridesharing and electric charging, handling of interactions of platoon members, or serving as a foundation for communication between vehicles. Although initial research about this topic exists, it is distributed among different use-cases and applications. This article conducts a systematic literature review to analyze blockchain’s role in mobility and transportation in smart cities, and its potential to increase efficiency in these areas. With this review, we aim to consolidate and summarize the current knowledge about this topic. As a first result, we present the findings from our literature review, which can be divided into five categories of use-cases. We also present a platform for further research about this emerging topic by identifying promising future research avenues. For this purpose, we derive a future research agenda based on our findings.
This paper deals with challenges of implementing blockchain (BC) technology in maritime at developing countries, with a research focus on Montenegro and South Africa. Research design and categories analyzed in the paper are chosen due to the search of relevant secondary literature resources. Selected experts in Information Technology (IT) and maritime from aforementioned developing countries were asked about their perception of BC as disruptive technology, its implementation, and implications on maritime and other industries, through a questionnaire, which contains both quantitative and qualitative parts. The results should give the readers insights into the experts’ standpoints concerning rational blockchain adoption in maritime and other industries in developing and transitional economies. The paper is organized into six sections: (1) introduction, (2) literature review on blockchain in maritime, (3) research problem and design, (4) results, (5) discussion, and (6) conclusions.
Profound changes driven by decarbonization, decentralization, and digitalization are disrupting the energy industry, bringing new challenges to its key stakeholders. In the attempt to address the climate change issue, increasing penetration of renewables and mobility electrification augment the complexity of the electric grid, thus calling for new management approaches to govern energy exchanges while ensuring reliable and secure operations. The emerging blockchain technology is regarded as one of the most promising solutions to respond to the matter in a decentralized, efficient, fast, and secure way. In this work, we propose an Ethereum-based charging management framework for electric vehicles (EVs), tightly interlinked with physical and software infrastructure and implemented in a real-world demonstration site. With a specifically designed solidity-based smart contract governing the charging process, the proposed framework enables secure and reliable accounting of energy exchanges in a network of trustless peers, thus facilitating the EVs’ deployment and encouraging the adoption of blockchain technology for everyday tasks such as EV charging through private and semi-private charging infrastructure. The results of a multi-actor implementation case study in Switzerland demonstrate the feasibility of the proposed blockchain framework and highlight its potential to reduce costs in a typical EV charging business model. Moreover, the study shows that the suggested framework can speed up the charging and billing processes for EV users, simplify the access to energy markets for charging station owners, and facilitate the interaction between the two through specifically designed mobile and web applications. The implementation presented in this paper can be used as a guideline for future blockchain applications for EV charging and other smart grid projects.
In the last four years, the evolution and adoption of blockchain and, more generally, distributed ledger systems have shown the affirmation of many concepts and models with significant differences in system governance and suitable applications. This work aims to analyze distributed ledger technology (DLT) critically. Starting from the topical idea of decentralization, we introduce concepts and building blocks currently adopted in the available systems centering on their functional aspects and impact on possible applications. We present some conceptual framing tools helpful in the application context: a DLT reference architecture, off-chain and on-chain governance models, and classification of consensus protocols. Finally, we introduce the concept of process authenticity, reviewing tools and strategies for integrating DLT with the physical world and proposing a constructive scheme for the authentication of a physical resource through alphanumeric data.
Naram Mhaisen, Mhd Saria Allahham, Amr Mohamed, Aiman Erbad · 5 authors
Service provisioning systems assign users to service providers according to allocation criteria that strike an optimal trade-off between users’ Quality of Experience (QoE) and the operation cost endured by providers. These systems have been leveraging Smart Contracts (SCs) to add trust and transparency to their criteria. However, deploying fixed allocation criteria in SCs does not necessarily lead to the best performance over time since the blockchain participants join and leave flexibly, and their load varies with time, making the original allocation sub-optimal. Furthermore, updating the criteria manually at every variation in the blockchain jeopardizes the autonomous and independent execution promised by SCs. Thus, we propose a set of light-weight agents for SCs that are capable of optimizing the performance. We also propose using online learning SCs, empowered by Deep Reinforcement Learning (DRL) agent, that leverage the chained data to continuously self-tune its allocation criteria. We show that the proposed learning-assisted method achieves superior performance on the combinatorial multi-stage allocation problem while still being executable in real-time. We also compare the proposed approach with standard heuristics as well as planning methods. Results show a significant performance advantage over heuristics and better adaptability to the dynamic nature of blockchain networks.
One of the common transportation systems in Korea is calling taxis through online applications, which is more convenient for passengers and drivers in the modern area. However, the driver's passenger taxi request can be rejected based on the driver's location and distance. Therefore, there is a need to specify driver's acceptance and rejection of the received request. The security of this system is another main core to save the transaction information and safety of passengers and drivers. In this study, the origin and destination of the Jeju island South Korea were captured from T-map and processed based on machine learning decision tree and XGBoost techniques. The blockchain framework is implemented in the Hyperledger Fabric platform. The experimental results represent the features of socio-economic. The cross-validation was accomplished. Distance is another factor for the taxi trip, which in total trip in midnight is quite shorter. This process presents the successful matching of ride-hailing taxi services with the specialty of distance, the trip request, and safety based on the total city measurement.
This paper considers an online retailer and his or her manufacturer, both facing financial constraints and wishing to get loans from their e-commerce platform-backed finance company. Based on shared transaction data and monitored sales accounts, a tripartite loan contract is proposed to coordinate three parties’ actions in this supply chain financing problem. We prove that the proposed loan contract aligns the decentralized decision-makings of each party and duplicates the optimal channel performance under a fully integrated decision-making framework. A case study is then conducted to illustrate the performance of the proposed loan contract. The result shows that the proposed loan contract outperforms wholesale-price contracts, where coordination does not take place, and buyback contracts, where coordination happens between the retailer and the manufacturer only. Furthermore, a sensitivity analysis reveals that profit allocations among the lender, the retailer, and the manufacturer resulted from the proposed loan contract are more balanced when the cost-to-retail ratio or risk premium is high.
Hansjörg Albrecher, Dina Finger, Pierre-Olivier Goffard
The resource-consuming mining of blocks on a blockchain equipped with a proof of work consensus protocol bears the risk of ruin, namely when the operational costs for the mining exceed the received rewards. In this paper we investigate to what extent it is of interest to join a mining pool that reduces the variance of the return of a miner for a specified cost for participation. Using methodology from ruin theory and risk sharing in insurance, we quantitatively study the effects of pooling in this context and derive several explicit formulas for quantities of interest. The results are illustrated in numerical examples for parameters of practical relevance.
Jens Hunhevicz, Hongyang Wang, Lukas Hess, Daniel Hall
We introduce our ongoing research on no1s1 (“no-ones-one”), a meditation pod that aims to be the first autonomous space. To frame our early thinking, we conceptualize what we call Decentralized Autonomous Space (DAS) as a Decentralized Autonomous Organization (DAO) linked to a physical location. DAOs leverage a combination of Decentralized Ledger Technology (DLT) and the Internet of Things (IoT) to create self-governing coordination mechanisms through smart contracts. Therefore, DAS can self-create and self-manage, and ultimately self-own. DAS is presented as a potentially disruptive paradigm of future housing and infrastructure with wide-ranging implications to the built environment.
Blockchain is predicted to disrupt industries, economies, and societies. The properties of distributed ledgers allow the creation of immutable data structures that facilitate shared access in real time and enable a plethora of innovative applications. However, blockchain is not a uniform technology but rather a bundle of evolving components whose implications are notoriously hard to predict. At present, it is not clear how current trends will evolve, with technical evolution, legislation, and public policy being three contingency factors that make ongoing disruptive transformations particularly hard to predict. In light of blockchain’s potential disruptive impact, it is surprising that scenario analysis has hitherto been largely ignored in academic research. Therefore, in this paper, we introduce the technique, clarify several misconceptions, and provide examples illustrating how this method can help to overcome the limitations of existing technology impact research. We conclude that if applied correctly, scenario analysis represents the ideal tool to rigorously explore uncertain future developments and to create a comprehensive foundation for future research.
Blockchain is currently one of the fastest-growing technologies in the field of Computer Science. It has found a prevalent use in financial applications like cryptocurrency, for example, Bitcoin and Ethereum. They have been able to bring an unforeseen disruption in the field of finance. However, permissionless Blockchains like these have some downsides, namely the computation cost of the Proof of Work algorithm, maximum allowed size for a block, decrease in intelligibility with the increase of the number of blocks in the chain, domination of nodes with higher computing power as miners and validators. These factors have restricted the adoption of permissionless blockchain technology outside the field of finance, such as in medical or legal fields. This paper proposes a solution to these problems using a permissioned blockchain. It does not require a computationally expensive consensus mechanism as permissioned chains call for trust between participating organizations which is achieved via exclusive invitations. We have utilized a third-party orderer to maintain the trust between organizations.
Henderi Henderi, I Ketut Gunawan, Husni Teja Sukmana, Agung Yudo Ardianto
We propose another blockchain client displaying stage that can be utilized to share data without letting completely go and possession and apply it to the field of movement booking. Our new stage gives answers for different central points of interest: extraordinary information insurance and client the board, and shared motivating forces. Track the functioning techniques, objects, time, strategies and reasons for UN associations in an unquestionable way. Gather client profile data and empower clients to trade data with elective travel suppliers to get endowments dependent on protection inclinations determined in great agreements. Client information dependent on the storehouse will be changed over into an open information design and communicated by means of blockchain transmission. This permits the information to be effectively handled and utilized by different hubs. The keen agreement confirms and executes the concurred information. Terms of utilization and token exchange become free help to clients. Savvy agreements can give an assortment of stores to guarantee that all members act with honesty. This record additionally assesses the presentation of the new stage dependent on the investigation of holding up time and memory utilization by characterizing three test situations. The outcomes show that the hub can rapidly react to every one of our issues by utilizing the exchange port nonconcurrently.
There are two primary purposes of property registers. First, they make public the proprietary interests that exist in a piece of property (disclosure). Second, they provide confidence to the holders of proprietary interests that their rights will be enforceable against other parties and will take priority over lesser competing interests (assurance). However, disclosure and assurance are only useful to the extent that the information held on the register is accurate and trusted. Accuracy and trust have traditionally been ensured by using an independent intermediary. However, many existing property registration systems based on intermediaries have limitations and fail to provide a complete, accurate and fully reliable public record. This article addresses whether distributed ledger technology (‘DLT’) is better equipped than intermediaries to achieve the primary aims of disclosure and assurance. In considering the efficacy of DLT in this context, the article analyses three specific use cases as examples: the company charge register, registrable intellectual property (patents and trademarks) and copyright. The article argues that DLT cannot overcome all problems associated with achieving full disclosure and assurance, but in certain contexts it can offer specific advantages over existing registration systems.
Ridesharing is a transportation strategy that allows drivers to share their trips with other people which results in less travel expenses. It also minimizes traffic congestions and carbon emissions. Currently, most of the existing ride-sharing services rely on a central third party, like Uber, Ola, Didi which charges high service fees. In this paper, we are using blockchain technology to build a smart ride-sharing platform - CypherCab. All the services from registering as a driver, to using this platform for ridesharing will be written directly to the blockchain distributed ledger. Utilizing the decentralized nature of blockchain, the data stored in the blocks will be stored in a distributed ledger, hence removing the dependency on a central third-party server. Moreover, blockchain enables us to remove intermediaries and allows direct transactions between the driver and passengers. In this paper, we have implemented a prototype using smart contracts in the Ethereum network and Ganache test network.
Maria Gorbunova, Pavel Mašek, Mikhail Komarov, Aleksandr Ometov
Distributed Ledger Technology (DLT) is making the first steps toward becoming a solution for the growing number of various decentralized systems worldwide. Unlike pure Blockchain, DLT finds many uses across different industries, including eHealth, finance, supply chain monitoring, and the Internet of Things (IoT). One of the vital DLT features is the ability to provide an immutable and commonly verifiable ledger for larger-scale and highly complex systems. Today?s centralized systems can no longer guarantee the required level of availability and reliability due to the growing number of the involved nodes, complicated heterogeneous architectures, and task load, while the publicly available distributed systems are still in their infancy. This paper aims to provide an exhaustive topical review of the state-of-theart of Distributed Ledger Technology applicability in various sectors. It outlines the importance of the practical integration of technology-related challenges, as well as potential solutions.
In the global trucking industry, vertical collaboration between shippers and carriers is attained by intermediaries, called brokers. Brokers organize carriers for a shipper in accordance with its quality and price requirements, and support carriers to collaborate horizontally by sharing a large distribution order from a shipper. Brokers also act as trustees, preventing the passing of private information of any party to the others. Despite these benefits, intermediaries in the trucking industry are involved in several sustainability problems, including high costs, high levels of carbon emissions, high percentages of empty miles, low-capacity utilizations, and driver shortages. Several studies have acknowledged the importance of improving collaboration to address these problems. Obviously, the major concern of brokers is not collaboration, but rather to optimize their own gains. This paper investigates the potential of blockchain technology to improve collaboration in the trucking industry, by eliminating brokers while preserving their responsibilities as organizers and trustees. This paper extends the transportation control tower concept from the logistics literature, and presents a system architecture for its implementation through smart contracts on a blockchain network. In the proposed system, the scalability and privacy of trucking operations are ensured through integration with privacy-preserving off-chain computation and storage solutions (running outside of the blockchain). The potential of this design artifact for fostering collaboration in the trucking industry was evaluated by both blockchain technology experts and trucking industry professionals.