TY - JOUR
T1 - Blockchain for power systems
T2 - Current trends and future applications
AU - Di Silvestre, Maria Luisa
AU - Gallo, Pierluigi
AU - Guerrero, Josep M.
AU - Musca, Rossano
AU - Riva Sanseverino, Eleonora
AU - Sciumè, Giuseppe
AU - Vásquez, Juan C.
AU - Zizzo, Gaetano
PY - 2020/3
Y1 - 2020/3
N2 - Today, the blockchain is synonymous of technological innovation, being recognized among the 10 top strategy technologies in 2018 by the consulting company Gartner, it is more and more adopted in different sectors. However, the initial enthusiasm around this technology is going beyond the peak of inflated expectations, towards more stable applications in money transactions, cryptocurrencies and Digital Commodity Exchanges. Essentially, misguided efforts, the overuse of blockchain, and the Bitcoin's price drop have been the main reasons for this decay in expectations. Nevertheless, the exploitation of the blockchain technology in the power systems area appears largely underexplored, furthermore, the relation to the physical asset makes the blockchain application more complex but also more reliable and related to measurable benefits. The most common applications in the power systems area relate to the energy market. When the blockchain technology is indeed applied to the energy field, the term energy blockchain is used. This article aims to propose a wide perspective about the application of the blockchain technology in the power systems area, clarifying some technical aspects concerning this promising technology, the features and applications developed so far, while focusing on the future of innovative applications in the electrical energy sector.
AB - Today, the blockchain is synonymous of technological innovation, being recognized among the 10 top strategy technologies in 2018 by the consulting company Gartner, it is more and more adopted in different sectors. However, the initial enthusiasm around this technology is going beyond the peak of inflated expectations, towards more stable applications in money transactions, cryptocurrencies and Digital Commodity Exchanges. Essentially, misguided efforts, the overuse of blockchain, and the Bitcoin's price drop have been the main reasons for this decay in expectations. Nevertheless, the exploitation of the blockchain technology in the power systems area appears largely underexplored, furthermore, the relation to the physical asset makes the blockchain application more complex but also more reliable and related to measurable benefits. The most common applications in the power systems area relate to the energy market. When the blockchain technology is indeed applied to the energy field, the term energy blockchain is used. This article aims to propose a wide perspective about the application of the blockchain technology in the power systems area, clarifying some technical aspects concerning this promising technology, the features and applications developed so far, while focusing on the future of innovative applications in the electrical energy sector.
KW - Aggregation
KW - Decentralized control
KW - Decentralized management
KW - Energy blockchain
KW - Energy market
KW - Peer-to-peer
KW - Review
KW - Supply chain management
UR - http://www.scopus.com/inward/record.url?scp=85075907547&partnerID=8YFLogxK
U2 - 10.1016/j.rser.2019.109585
DO - 10.1016/j.rser.2019.109585
M3 - Review article
AN - SCOPUS:85075907547
SN - 1364-0321
VL - 119
JO - Renewable and Sustainable Energy Reviews
JF - Renewable and Sustainable Energy Reviews
M1 - 109585
ER -