The development of energy blockchain and its implications for the energy sector

Abstract

Although blockchain technology was initially thought to be dedicated to digital currency applications, the study groups quickly realised its usability that it could be beneficial to various sectors of society, industry, and business, including the sector of electricity. Currently, the European energy sector is in the process of transformation, which is associated with the transition from conventional to renewable energy using the latest technological solutions, also based on blockchain technology. This paper reviews the academic literature and industry practices of the implementation of blockchain in the energy sector. The systematic review by considering two sources is attempting to integrate insights from different bodies of knowledge. The results show that the number of publications about blockchain technology in the energy sector has been skyrocketing, especially since 2017, indicating that combining blockchain technology with the energy sector is a new cross-cutting research area with increasing attention.