Blockchain Papers

Gabriel Mathy

No abstract is available for this record.

Qingjie Zhou, Panpan Zhu, Yinpeng Zhang

The uniqueness of this investigation lies in empirically testing and proving the contagion spillover of Bitcoin attention to carbon futures. Specifically, several models are adopted to investigate the explanatory and predictive abilities of Bitcoin attention to carbon futures. The results can be generalized as follows. First, Bitcoin attention Granger causes the variation of carbon futures. Second, Bitcoin attention shows a negative impact on carbon futures and an addition, an invert U-shaped connection exists. Third, the Bitcoin attention-based models can beat the commonly used historical average benchmark during out-of-sample forecasting both in statistical and economic levels. Fourth, we complete robustness checks to certify that the contagion spillover from Bitcoin attention to the pricing of carbon futures does exist. Finally, we prove the linear and non-linear impacts from Bitcoin attention to realized volatility of carbon futures. All the results prove that Bitcoin attention is an important pricing factor for carbon futures market.

Cemal Zehir, Melike Zehir

This study aims to identify the most influential blockchain types for potential implementation areas in the transforming mobility ecosystem, considering application area-specific needs such as transparency, transaction speed, scalability, energy usage, security, and operating cost. The study demonstrated the hybrid blockchain suitability for most of the 13 distinguished mobility applications, while private and consortium blockchains are found applicable based on the needs of specific use cases. A public blockchain is only found suitable for two of the use cases. Proof of Authority and Proof of Stake matches well with most use cases, while Practical Byzantine Fault Tolerance and Proof of Work could be suitable in particular.

Meng Qin, Xiaojing Zhang, Yameng Li, Roxana Maria Badarcea

No abstract is available for this record.

Patricia Marcella Evite

No abstract is available for this record.

Hawra Alhasan, Allam Hamdan

No abstract is available for this record.

Minhao Leong, Simon Kwok

No abstract is available for this record.

Roberto Moncada, Enrico Ferro, Maurizio Fiaschetti, Francesca Medda

Blockchain tokens have accumulated tremendous market value but remain highly controversial, given their price volatility and seemingly speculative nature. Ironically, this very characteristic can foster token retention as users wait for occasions of appreciation. In this paper, we conduct an empirical analysis with 58 tokens in two steps: first, an investigation of the drivers of user activity and token price volatility using a new blockchain token classification framework, searching for possible tokenomics links. Our findings suggest that there is an intrinsic relationship between the way tokens are used as a means of exchange and how token usage dynamics influence user engagement oppositely to market stability. Only some features, such as earning potential and voting rights, foster token-holding strategies, while only Ethereum ecosystem membership has positive effects on price volatility. Second, we analyze the direct relationship between price volatility and active users. Results show that, on average, a 10% increase in volatility is related to a decrease in active addresses ranging between 3.96% and 5.88%. The finding is supportive of the hypothesis that token price volatility may be treated as an opportunity to increase token retention.

Muhammad Tayyab Rana, Muhammad Numan, Muhammad Yousif, Tanveer Hussain · 5 authors

No abstract is available for this record.

Yuxuan Chen, Huimin Chung, Donald Lien

No abstract is available for this record.

Brijmohan Lal Sahu, Preeti Chandrakar

No abstract is available for this record.

Matthias Hofmann, Karen Byskov Lindberg

Price-responsive demand and dynamic electricity price contracts can play a vital role in balancing renewable energy production and alleviating energy shortages such as those experienced in the European energy crisis. This study focuses on the implicit demand flexibility of residential consumers during extraordinarily high electricity prices in winter 2021/22 in Norway where most households have electric heating and spot price contracts. An econometric model is developed that compares the demand with pre-crisis levels, adjusts for factors influencing electricity consumption, such as outdoor temperature, and utilises a comprehensive dataset including hourly electricity demand data. The results reveal a quick response since the price signal was passed immediately to the customers and substantial energy savings of 11.4 % during winter. While the average household showed no significant short-term price response to daily or hourly price variations, several subgroups did. Particularly, households actively monitoring hourly prices via real-time information channels and those with automatic smart charging of electric cars showed higher load reductions in peak price hours and load shifting to low-price hours. Thus, the study concludes that households are able to respond to variable hourly electricity prices and suggests the promotion of spot price contracts to incentivise residential demand response.

Ming Li, Wenyu Zhang, Meng Yang, Hongyong Liu · 7 authors

In the process of green power trading, green power reflects the value of electricity energy and green environment, and green certificates aim to reduce the pressure of new energy subsidies and guide the concept of green electricity consumption. In order to promote the integration of new energy through market-oriented mechanisms, ensure the basic income of new energy projects, reflect the environmental value of green electricity, promote the sustainable development of the new energy industry, and meet the needs of users for green electricity at the same time, this paper constructs a blockchain-based green electricity environmental value authentication and circulation method by using the characteristics of blockchain centralization, distributed ledger, consensus mechanism, and smart contract.

Troy Cross, Andrew M. Bailey

No abstract is available for this record.

Elena G. Popkova, Aleksei V. Bogoviz, Svetlana V. Lobova, Natalia G. Vovchenko · 5 authors

The digital economy's neo-industrialization self-accelerates resource consumption and wide automatization inevitably envisage a technological leap. The article contributes conceptually and empirically to a systemic vision of blockchain to sort out climate change challenges and clean energy transition and simultaneously increase the productivity and efficiency of good practices. This vision covers the popularization of ecological initiatives, waste reduction, organization of sustainable investments, control over responsibilities on both fighting and forecasting climate change and clean energy transition. By embracing the notion of blockchain as a problem-solving tool for climate change and clean energy transition, the paper draws and investigates the experiences of the 36 digitally developed and 25 digitally developing economies. It also examines the effectiveness of alternative practices in Industry 4.0. The paper's findings represent a systematic vision of implementing blockchain initiatives to solve climate change and clean energy transition. An energy-efficient model with a blockchain opens up massive opportunities for ecological monitoring, supports energy transition and ameliorates economic sustainability. Since the blockchain potential is not fully unlocked, a model expanding the use of blockchain in education to train green personnel and in science to support climate innovations is proposed.

Juan Ignacio Ibañez, Alexander Freier

No abstract is available for this record.

Yosuke Kakinuma

No abstract is available for this record.

Mohammadhossein Lashkaripour

No abstract is available for this record.

Emanuele Pagone, A. L. Hart, Konstantinos Salonitis

Cryptocurrencies are a digital form of money based on the blockchain technology. Their relatively recent raise in popularity and use, together with the energy-intensive nature of some of their algorithms, has raised environmental concerns about growing energy consumption (and associated carbon dioxide emissions). This paper aims at comparing the environmental impact of the most common cryptocurrency (i.e., Bitcoin) and fiat currencies (i.e. coins, banknotes, credit and debit card networks). Such comparison is carried out assessing and analyzing the life cycle main phases of each currency in terms of carbon dioxide equivalent emissions. Results show that Bitcoin has a carbon footprint almost 4 to 5 times greater than the sum of all forms of traditional currency together in one year. Furthermore, environmental impact “hotspots” of fiat currency including raw material production of coins, transportation of banknotes and electric energy consumption of ATMs are identified. Finally, considering future scenarios and the sensitivity of various parameters on the results, some solutions are proposed to reduce the environmental impact of currencies.

Suraya Fadilah Ramli, Zahrul Azmir A. B. S. L. Kamarul Adzhar, Syed Anand Najmi Sayed Abu Bashar, Muhammad Fikri Abdullah

Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Share Icon Share Twitter Facebook Reddit LinkedIn Tools Icon Tools Reprints and Permissions Cite Icon Cite Search Site Citation Suraya Fadilah Ramli, Zahrul Azmir A. B. S. L. Kamarul Adzhar, Syed Anand Najmi Sayed Abu Bashar, Muhammad Fikri Abdullah; Analysis of Ethereum versus Bitcoin: The GARCH approach. AIP Conference Proceedings 8 February 2023; 2500 (1): 020049. https://doi.org/10.1063/5.0112690 Download citation file: Ris (Zotero) Reference Manager EasyBib Bookends Mendeley Papers EndNote RefWorks BibTex toolbar search Search Dropdown Menu toolbar search search input Search input auto suggest filter your search All ContentAIP Publishing PortfolioAIP Conference Proceedings Search Advanced Search |Citation Search

Juliane Proelss, Denis Schweizer, Stéphane Sévigny

Abstract Much of the media focus surrounding Bitcoin (BTC) has been on the ‘E’ (environmental) element of the ESG investing approach. Given the amount of electricity consumed by BTC mining, and the resulting large carbon emissions, BTC has faced substantial criticism of its overly negative environmental impact, which is critically reviewed in this article. This one‐sided discussion, however, ignores the ‘S’ (social) and ‘G’ (governance) elements entirely. To remedy that, we explore BTC's positive impact on the ‘S’ (user satisfaction, data protection and privacy, human rights, and criminal activity), and ‘G’ (accounting integrity and transparency, compensation, and principles of good governance) components.

Kin-Hon Ho, Monica Law, Yun Hou, Tse-Tin Chan

No abstract is available for this record.

Anna Papp, Douglas Almond, Shuang Zhang

Environmental externalities from cryptomining may be large, but have not been linked causally to mining incentives. We exploit daily variation in Bitcoin price as a natural experiment for an 86 megawatt coal-fired power plant with on-site cryptomining. We find that carbon emissions respond swiftly to mining incentives, with price elasticities of 0.69-0.71 in the short-run and 0.33-0.40 in the longer run. A $1 increase in Bitcoin price leads to $3.11-$6.79 in external damages from carbon emissions alone, well exceeding cryptomining's value added (using a $190 social cost of carbon, but ignoring increased local air pollution). As cryptomining requires ever more computing power to mine a given number of blocks, our study highlights both the revitalization of US fossil assets and the potential value of financial industry accounting standards that incorporate cryptomining externalities.

Zumian Xiao, Shihao Cui, Lijin Xiang, Pei Liu · 5 authors

This study estimates the environmental impacts of Bitcoin mining. Employing a top-down measurement approach, this paper assesses the carbon footprint of Bitcoin mining in China from 2017 to 2021. The findings reveal that mining activities during this period contributed to a total of 77.84 million tons of carbon dioxide emissions in China. By utilizing data at the provincial level, we find that the seasonal migration of Bitcoin mining pools will lead to regional power demand shocks in China. Additionally, this study predicts future carbon emissions from Bitcoin mining in China, projecting cumulative carbon dioxide emissions of 76.40 million tons and 722.18 million tons by 2030 and 2060 respectively, in the absence of any policy interventions. Based on these findings, this paper posits that governments worldwide should make efforts to restrict the carbon emissions from Bitcoin mining and opt for environmentally friendly technological methods to fundamentally alleviate Bitcoin's reliance on energy. The implication for central banks is that carbon emission should be taken into consideration when designing the central bank digital currencies (CBDCs).