Tao Chen, Wei Tian, Jingying Wu, Lin Ye ¡ 6 authors
In this paper, we study a local P2P energy trading with help of Blockchain technologies and consideration for customersâ risk preference. The local energy transactions are based on double-side auction mechanism, meanwhile enabling immediate seller-buyer pairing process via iterative price adjustment. Additionally, the quantitative description of risk preference guarantees the optimal decision-making according to customersâ subjective gain reference. The Blockchain platform is also used to support the proposed P2P energy trading mechanism, strengthening the decentralized implementation and smart contract deployment. The demonstration is provided using Ethereum and Remix development environment.
Abstract This article examines the connectedness and information spillover in the ElectricityâCrypto Network (ECN) system. The Bitcoin and Ethereum markets are studied due to the level of electricity demand for active trading and mining in the three leading crypto mining economies (United States, China, and Japan). Among other findings, the leading net transmitter of information is the return of the Bitcoin market while the demand for electricity in the U.S. and Japan are the leading net information receivers in the ECN system. In a nutshell, the return and trading volumes of the cryptocurrency markets are net information transmitters while the markets' volatility and the demand for electricity in the U.S., China, and Japan are net information receivers in the system. As a policy relevance, given the favourable developments in these crypto markets, greener sources of electrical energy are expedient to mitigate emissions while mining these coins. This will reduce the impact of human activities on the climate.
The provision of electric vehicles (EVs) is increasing due to the need for ecological green energy. The increment in EVs leads to an intelligent electric vehicle transportation system's need instead of cloud-based systems to manage privacy and security issues. Collecting and delivering the data to current transportation systems means disclosing personal information about vehicles and drivers. We have proposed a secure and intelligent electric vehicle transportation system based on blockchain and machine learning. The proposed method utilizes the state of the art smart contract module of blockchain to build an inference engine. This system takes the sensors' data from the vehicle control unit of EV, stores it in the blockchain, makes decisions using an inference engine, and executes those decisions using actuators and user interface. We have utilized a double-layer optimized long short term memory (LSTM) algorithm to predict EV's stator temperature. We have also performed an informal analysis to demonstrate the proposed system's robustness and reliability. This system will resolve the security issues for both information and energy interactions in EVs.
Cette étude explore comment un effondrement du cours du Bitcoin se transmet aux marchés pétroliers. Le Bitcoin est considéré comme une marchandise qui a une valeur intrinsèque qui augmente et diminue en fonction de l’offre et de la demande, tout comme le prix du pétrole brut. Nous définissons le choc simulé sur le cours du Bitcoin comme une mesure d’un crash soudain dans les cours du Bitcoin et évaluons ses impacts sur les différents prix du pétrole brut. En utilisant les prix de clôture quotidiens du Bitcoin et quatre prix de référence du pétrole brut du 26 septembre 2013 au 20 septembre 2019, nous appliquons un modèle VAR avec rétrécissement Bayesian et calculons les fonctions de réponses généralisées. Les résultats empiriques suggèrent qu’un effondrement du cours du Bitcoin a des effets significatifs sur le marché du pétrole, et par conséquent sur les pays exportateurs de pétrole. Les réponses généralisées confirment qu’il existe actuellement une forte corrélation et une relation positive entre les cours du Bitcoin et ceux du marché pétrolier.
Maritime industry is one of the most globally connected industries that include transportation of numerous types of goods and documents across the world. With that said, it is safe to say that abundance of financial and paper-trail transactions are made every day in order for goods to be transported from one place to another. The scope of this paper is to show that by implementing blockchain technology savings in time and money could be generated. This paper presents costs of container freights and rates in the last few years and assumes possible future costs of container freights and rates if blockchain based technology is implemented. Additionally, by using comparative method economical and time value of âtraditionalâ bill of lading is compared with a blockchain bill of lading solution. It is also important to mention the potential impact of the blockchain technology on the world environment and ecology by reducing global paper consumption and emissions from vehicles that are used in the transportation process. This paper also gives a descriptive and comprehensive overview of current and future applications of blockchain technology in maritime industry.
Delivery of subsidies to deserving beneficiaries forms an essential part of government expenditure. In 2018-19 alone, the Government of India spent $60 Bn on welfare subsidies, majorly through the Public Distribution System(PDS). Of this amount, it is estimated that 40% was lost in the form of misuse, corruption and related inefficiencies in the system. Recognising this problem, the government began Direct Benefit Transfers in 2013 for a select few schemes, for instance, LPG subsidy. Using Aadhaar and biometric tokens for validation, the beneficiaries would receive the subsidy as direct cash transfers to their bank accounts. However, in reality, the DBT program has had the same efficiency as the PDS. According to the analysis of the DBT policy, the key drawbacks of this system are lack of auditability, inability to control the use of funds for intended purposes, and over-reliance on the banking infrastructure, which is underdeveloped in the rural areas. In order to plug loopholes in the DBT system, we propose a blockchain-based system. Blockchain consists of cryptographic hash secured distributed ledgers which maintain an immutable log of transactions between all participants of a blockchain network. They have the ability to execute Smart Contracts, which allow for automation of execution of real-world contracts given that certain specified conditions are met. Appropriating the Governments Aadhaar UID, we aim to develop a smart blockchain which automates the disbursement of subsidy which bypasses the need for banks in rural nodes while creating an auditable and transparent ecosystem to curb corruption and financial mismanagement.
Carbon credits should reduce the environmental pollution and carbon emission of the Earth in the future. The market for carbon credits will become a critical issue from 2021, and carbon credits will be applied to systems where individuals can trade. In order for these carbon credits to be traded between individuals, however, a corresponding exchange of carbon credits is needed. Policies, strategies, and technologies are also necessary to measure the trading of carbon credits. This paper aims at making transactions more reliable by applying blockchain technology to measure carbon emission rights. It uses blockchain to verify carbon emissions rights among the UN-SDGsâ (United Nations Sustainable Development Goalsâ) 17 tasks. In addition, it introduces the necessary dApp. In fact, we can protect against carbon emissions anomalies by using big data and artificial intelligence in mobile cloud environments. Thus, this paper proposes a blockchain-based carbon emission rights verification system to learn proven data further by using the governance system analysis and blockchain mainnet engine to solve these problems.
This article utilizes consortium blockchain to design a decentralized, secure, and privacy-preserving scheme for bidirectional power trading between electric vehicles (EVs) and the power grid. To reduce adverse effects induced by disordered charging of massive EVs to the power grid, we minimize the total load deviation through optimizing the charging and discharging time period of EVs. Our optimization scheduling is a large-scale mixed-integer programming problem of which the number of variables and constraints are enormous. Hence, we propose to adopt the heuristic algorithm, an improved krill herd (KH) algorithm to solve it. Simulation results indicate that our model can effectively smooth the load fluctuations, and improved KH can improve the rate and accuracy of solving this model effectively. Implementation of Hyperledger Fabric evaluates the performance and scalability of our scheme. Qualitative security and privacy analysis demonstrate that our scheme helps to improve the security and privacy of power trading.
Blockchain, as an emerging technology and a disruptive innovation, has attracted attention from both academia and industry. However, there are many potential risks associated with it, such as the technical risk, the legal risk and the privacy risk. A comprehensive risk analysis is crucial for cost-effective deployment of blockchain technology. Important adoption decisions, including when to deploy blockchain, how to plan the investment, how to transfer current businesses onto blockchain, and how to price the blockchain service depend on this risk analysis. Yet very little study exists concerning the blockchain adoption planning with risks analysis. This research presents a cost-and-risk analysis framework and an adoption planning method for the case of blockchain application in carbon trading. Design requirements implied by the analysis are inferred and the architecture of a novel hybrid blockchain system is proposed. The system leverages the advantages of blockchain technology and incorporates institutional risk control framework. The optimal adoption strategy of this system is derived through modelling of usersâ and the organizerâs behavior.
Arun Kumar Sangaiah, Hongguang Xiao, Wang Jin, Jingjing Tan ¡ 6 authors
The development of blockchain technology is very rapidly. As a decentralized distributed technology, the blockchain has become one of the most promising Internet applications, and its application in the power balance trading platform has also received extensive attention. In view of the information asymmetry between the trading center and the margin trading users in the power balance trading platform, it is difficult to guarantee the fairness of the transaction and affect the actual income of the production consumers. First, we analyze the trading mechanism of the power surplus market.Then we designed a smart contract for multi-party bidding power resources based on blockchain technology, and achieved the decentralized power trading decision to ensure the information is symmetric and fair.At the same time, the credibility model is established by analyzing the user's recent transaction records, and we design a corresponding punishment mechanism to strengthen the constraint on the execution of offline point-to-point power transactions.
Since Bitcoin's inception in 2008, it has became attractive investments for both trading and mining. To mine Bitcoins, a miner has to invest in computing power and pay for electricity to solve cryptographic puzzles for rewards, if it becomes the first to solve a puzzle, paid in Bitcoin. Given that mining is such a resource intensive effort, miners seek new strategies trying to make the mining process more profitable.
Transparency is one of the most useful tools to support sustainability in the energy value chain. By providing information about the sustainability of the activities of actors, transparency creates incentives to improve sustainability. This paper explains how blockchain technology might be used to build a global transparency system for sustainability information in the energy value chain, using market based instruments (MBIs) as its testbed. While the energy value chain is global, management of sustainability is not. Instead, sustainability is managed through a complex system of independent, sometimes overlapping, structures, with both mandatory and voluntary elements. MBIs such as emissions trading schemes, green certificates and labelling programs facilitate sustainability through market incentives. However, the transparency of MBIs, and so the information which can be derived from them, is inconsistent, fragmented across national schemes, and not readily accessible. The problems that arise from that are compounded by the regulations that govern MBI programs, which set out the information to be collected and restrict how widely it can be shared. Blockchain technology offers a tool which could be used to collect and share sustainability information better. This would increase the effectiveness of sustainability incentives through market responses such as consumer choice and investor pressure, and make MBI schemes operate more efficiently. However, the implementation of blockchain for MBIs is not to be done against a blank canvas â it must be consistent with existing governance requirements. If the existing regulatory regimes governing MBIs are not respected, developments based on blockchain are unlikely to be adopted.
To promote coordinated development of electric vehicles (EVs) and power grid under open power selling, a bidding mechanism using blockchain smart contract technology was proposed. By demand respone management (DRM) on and off the blockchain, based on different driving characteristics of EV subgroups, various chargingâdischarging demands and constraints were fully considered between EV user subgroups and agent. Purchaseâsale transaction relationship and unit commitment plan were fully considered between the EV agent and power dispatching center under economic dispatching. Aiming at the lowest power purchase cost of EV users, the highest profit of EV agent and the lowest cost of power economic dispatching, smart contract models with optimal benefits were established among the three. The smart contract models were solved by combining the internal and external optimization relationship of particle swarm and genetic algorithms. The chargingâdischarging price was optimized by DRM to realize the reasonable allocation of chargingâdischarging resources of EVs. An example analysis shows that this bidding mechanism can achieve peakâcutting and valleyâfilling for power load. At the same time, it can effectively protect the benefits of EV users, agent, and power dispatching center. This result can provide a reference for the application of smart contract in bidding of EVs to the power grid.