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Demystifying the Energy Blockchain Landscape: Technical, Economic and Legislative Aspects
- Sep 25, 2019 4:15 pm GMT
This item is part of the Blockchain in Utilities - Fall 2019 SPECIAL ISSUE, click here for more
Blockchain technology is among the most debated and possibly disruptive innovation of digital transformation concepts expected to redesign or evolve economies and societies. Blockchain technology offers a wide spectrum of features included decentralization, security, and effectivity which enables new business models and opportunities in the fields of health, energy, supply chain and government. Decentralization, decarbonization, digitalization and democratization (4D’s of the energy landscape) have been important phases of energy systems and markets transition. Decentralization of energy resources is a trading topic for at least two decades. Cost effectiveness of distributed energy resources (DER) in all power system segments will make future power systems more transactive and push the decentralization levels to increasingly advanced levels. Transactive energy systems and markets require advanced information communication technologies (ICT) such as advanced control and energy forecasting models to maintain requirements of successful modern power system operations. Digitalization and decentralization phases of energy systems evolved parallel to each other. Distributed Ledger Technology (DLT) and decentralization of the power systems are considered to be the disruptive factors that will enable the next paradigm shift in the energy domain.
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