SDEWES 2017 Abstract: Power Struggles on the Blockchain: Energy Democracy at last?

Kirsten Sophie  Hasberg

Abstract

Blockchain, a distributed ledger technology based on peer-to-peer information
networks, cryptography and game theory, holds the promise of disrupting existing intermediaries across different industries, because trust in a centralized
middleman is replaced by the blockchain itself.

Perceived as a "digitized cooperative"" this has far-reaching
consequences for the sharing economy in general and for the energy sector more
specifically. Decentralization in terms of generation capacity has taken place throughout the
past decades, while the exchange of electricity has largely been left unchanged
and hence, centralized. With the radical reductions of the levelized cost of
renewable energy over the past decades and the recent policy changes away from
feed-in tariffs in several countries, the demand for trading electricity locally
is increasing. Applying blockchain technology to this seems promising, because
the automated nature of applications built on blockchains (based on the notion
of "smart contracts") hold the promise of radically reducing
transaction costs and hence increase prosumer integration and market
participation in the transition to 100 % renewable energy systems.

Since almost no academic literature exists on blockchain applications in the
energy sector from a social science perspective, this paper draws up some
central questions: How can blockchain technology facilitate decentralized
electricity markets and rebalance the power structure between prosumers and
incumbents?

Original language	English
Publication date	2017
Publication status	Published - 2017
Event	the 12th conference on sustainable development of energy, water and enviroment systems (SDEWES) Dubrovnik 2017. - Dubrovnik, Croatia, Dubrovnik, Croatia Duration: 4 Oct 2017 → 8 Oct 2017 http://www.dubrovnik2017.sdewes.org/

Conference

Conference	the 12th conference on sustainable development of energy, water and enviroment systems (SDEWES) Dubrovnik 2017.
Location	Dubrovnik, Croatia
Country/Territory	Croatia
City	Dubrovnik
Period	04/10/2017 → 08/10/2017
Internet address	http://www.dubrovnik2017.sdewes.org/

Keywords

blockchain
smart energy systems
information systems
digitization
Energy transition

AUB Link

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The Energy Collective
Hasberg, K. S., Hvelplund, F. & Pinson, P.
01/04/2017 → 30/03/2020
Project: Research

2 Conference organisation or participation
1 Organisation or participation in workshops, courses, seminars, exhibitions or similar
1 External teaching and course activities at other universities

EER: Power Struggles on the Blockchain - Energy Democracy at Last?
Kirsten Sophie Hasberg (Speaker)
17 Nov 2017
Activity: Talks and presentations › External teaching and course activities at other universities

File
12th Conference on Sustainable Development of Energy, Water and Environment Systems
Kirsten Sophie Hasberg (Participant)
6 Oct 2017
Activity: Attending an event › Conference organisation or participation
12th Conference on Sustainable Development of Energy, Water and Environment Systems
Hannah Mareike Marczinkowski (Participant) & Peter Sorknæs (Participant)
4 Oct 2017 → 8 Oct 2017
Activity: Attending an event › Conference organisation or participation

Cite this

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title = "SDEWES 2017 Abstract: Power Struggles on the Blockchain: Energy Democracy at last?",

abstract = "Blockchain, a distributed ledger technology based on peer-to-peer information networks, cryptography and game theory, holds the promise of disrupting existing intermediaries across different industries, because trust in a centralized middleman is replaced by the blockchain itself. Perceived as a {"}digitized cooperative{"}{"} this has far-reaching consequences for the sharing economy in general and for the energy sector more specifically. Decentralization in terms of generation capacity has taken place throughout the past decades, while the exchange of electricity has largely been left unchanged and hence, centralized. With the radical reductions of the levelized cost of renewable energy over the past decades and the recent policy changes away from feed-in tariffs in several countries, the demand for trading electricity locally is increasing. Applying blockchain technology to this seems promising, because the automated nature of applications built on blockchains (based on the notion of {"}smart contracts{"}) hold the promise of radically reducing transaction costs and hence increase prosumer integration and market participation in the transition to 100 % renewable energy systems. Since almost no academic literature exists on blockchain applications in the energy sector from a social science perspective, this paper draws up some central questions: How can blockchain technology facilitate decentralized electricity markets and rebalance the power structure between prosumers and incumbents? ",

keywords = "blockchain, smart energy systems, information systems, digitization, Energy transition",

author = "Hasberg, {Kirsten Sophie}",

year = "2017",

language = "English",

note = "the 12th conference on sustainable development of energy, water and enviroment systems (SDEWES) Dubrovnik 2017., sdewes 2017 ; Conference date: 04-10-2017 Through 08-10-2017",

url = "http://www.dubrovnik2017.sdewes.org/",

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SDEWES 2017 Abstract: Power Struggles on the Blockchain: Energy Democracy at last? / Hasberg, Kirsten Sophie .
2017. Abstract from the 12th conference on sustainable development of energy, water and enviroment systems (SDEWES) Dubrovnik 2017., Dubrovnik, Croatia.

Research output: Contribution to conference without publisher/journal › Conference abstract for conference › Research › peer-review

TY - ABST

T1 - SDEWES 2017 Abstract: Power Struggles on the Blockchain

T2 - the 12th conference on sustainable development of energy, water and enviroment systems (SDEWES) Dubrovnik 2017.

AU - Hasberg, Kirsten Sophie

PY - 2017

Y1 - 2017

N2 - Blockchain, a distributed ledger technology based on peer-to-peer information networks, cryptography and game theory, holds the promise of disrupting existing intermediaries across different industries, because trust in a centralized middleman is replaced by the blockchain itself. Perceived as a "digitized cooperative"" this has far-reaching consequences for the sharing economy in general and for the energy sector more specifically. Decentralization in terms of generation capacity has taken place throughout the past decades, while the exchange of electricity has largely been left unchanged and hence, centralized. With the radical reductions of the levelized cost of renewable energy over the past decades and the recent policy changes away from feed-in tariffs in several countries, the demand for trading electricity locally is increasing. Applying blockchain technology to this seems promising, because the automated nature of applications built on blockchains (based on the notion of "smart contracts") hold the promise of radically reducing transaction costs and hence increase prosumer integration and market participation in the transition to 100 % renewable energy systems. Since almost no academic literature exists on blockchain applications in the energy sector from a social science perspective, this paper draws up some central questions: How can blockchain technology facilitate decentralized electricity markets and rebalance the power structure between prosumers and incumbents?

AB - Blockchain, a distributed ledger technology based on peer-to-peer information networks, cryptography and game theory, holds the promise of disrupting existing intermediaries across different industries, because trust in a centralized middleman is replaced by the blockchain itself. Perceived as a "digitized cooperative"" this has far-reaching consequences for the sharing economy in general and for the energy sector more specifically. Decentralization in terms of generation capacity has taken place throughout the past decades, while the exchange of electricity has largely been left unchanged and hence, centralized. With the radical reductions of the levelized cost of renewable energy over the past decades and the recent policy changes away from feed-in tariffs in several countries, the demand for trading electricity locally is increasing. Applying blockchain technology to this seems promising, because the automated nature of applications built on blockchains (based on the notion of "smart contracts") hold the promise of radically reducing transaction costs and hence increase prosumer integration and market participation in the transition to 100 % renewable energy systems. Since almost no academic literature exists on blockchain applications in the energy sector from a social science perspective, this paper draws up some central questions: How can blockchain technology facilitate decentralized electricity markets and rebalance the power structure between prosumers and incumbents?

KW - blockchain

KW - smart energy systems

KW - information systems

KW - digitization

KW - Energy transition

M3 - Conference abstract for conference

Y2 - 4 October 2017 through 8 October 2017

ER -

SDEWES 2017 Abstract: Power Struggles on the Blockchain: Energy Democracy at last?

Abstract

Conference

Keywords

AUB Link

Fingerprint

Projects

The Energy Collective

Activities

EER: Power Struggles on the Blockchain - Energy Democracy at Last?

12th Conference on Sustainable Development of Energy, Water and Environment Systems

12th Conference on Sustainable Development of Energy, Water and Environment Systems

Cite this