Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges
Abstract
1. Introduction
2. The European Data Protection Law and BCT
2.1. Subjects and Accountability
2.2. Principles, Rights and Obligations
2.3. Hashing Technique and Pseudonymization
3. BCT-Based P2P Energy Trading
3.1. The Rise of Energy Communities and P2P Energy Trading
3.2. Potentials of BCT-Based P2P Energy Trading
3.3. Challenges of BCT-Based P2P Energy Trading
4. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Data Availability Statement
Conflicts of Interest
References
- Pérez-Montalvo, E.; Zapata-Velásquez, M.-E.; Benítez-Vázquez, L.-M.; Cermeño-González, J.-M.; Alejandro-Miranda, J.; Martínez-Cabero, M.-A.; de la Puente-Gil, A. Model of monthly electricity consumption of healthcare buildings based on climatological variables using PCA and linear regression. Energy Rep. 2022, 8, 250–258. [Google Scholar] [CrossRef]
- Enerdata. Available online: https://d1owejb4br3l12.cloudfront.net/publications/executive-briefing/eu-evolution-households-energy-patterns.pdf (accessed on 2 December 2022).
- Eurostat. Available online: https://ec.europa.eu/eurostat/web/products-eurostat-news/-/ddn-20220617-1 (accessed on 2 December 2022).
- Deconinck, G.; Vankrunkelsven, F. Digitalised, decentralised power infrastructures challenge blockchains. Proc. Inst. Civ. Eng. Smart Infrastruct. Constr. 2020, 173, 29–40. [Google Scholar] [CrossRef]
- Shen, B.; Dong, C.; Minner, S. Combating copycats in the supply chain with permissioned blockchain technology. Prod. Oper. Manag. 2022, 31, 138–154. [Google Scholar] [CrossRef]
- Cho, J.; DeStefano, T.; Kim, H.; Kim, I.; Paik, J.H. What’s driving the diffusion of next-generation digital technologies? Technovation 2022, 119, 102477. [Google Scholar] [CrossRef]
- Organization for Economic Cooperation and Development (OECD). Available online: https://www.oecd-ilibrary.org/science-and-technology/oecd-digital-economy-outlook-2020_bb167041-en (accessed on 7 November 2022).
- Financial Times. Available online: https://www.ft.com/content/7d9874c0-a25d-11e5-8d70-42b68cfae6e4 (accessed on 7 November 2022).
- Joskow, P.L. Comparing the costs of intermittent and dispatchable electricity generating technologies. Am. Econ. Rev. 2011, 101, 238–241. [Google Scholar] [CrossRef]
- Yahaya, A.S.; Javaid, N.; Alzahrani, F.A.; Rehman, A.; Ullah, I.; Shahid, A.; Shafiq, M. Blockchain based sustainable local energy trading considering home energy management and demurrage mechanism. Sustainability 2020, 12, 3385. [Google Scholar] [CrossRef]
- Cory, K.; Schwabe, P. Wind Levelized Cost of Energy: A Comparison of Technical and Financing Input Variables; National Renewable Energy Lab. (NREL): Golden, CO, USA, 2009. [Google Scholar] [CrossRef]
- Tushar, W.; Saha, T.K.; Yuen, C.; Smith, D.; Poor, H.V. Peer-to-peer trading in electricity networks: An overview. IEEE Trans. Smart Grid 2020, 4, 3185–3200. [Google Scholar] [CrossRef]
- Abrell, J.; Rausch, S.; Streitberger, C. Buffering volatility: Storage investments and technology-specific renewable energy support. Energy Econ. 2019, 84, 104463. [Google Scholar] [CrossRef]
- Wongthongtham, P.; Marrable, D.; Abu-Salih, B.; Liu, X.; Morrison, G. Blockchain-enabled Peer-to-Peer energy trading. Comput. Electr. Eng. 2021, 94, 107299. [Google Scholar] [CrossRef]
- Yu, T.; Luo, F.; Pu, C.; Zhao, Z.; Ranzi, G. Dual-blockchain-based P2P energy trading system with an improved optimistic rollup mechanism. IET Smart Grid 2022, 5, 246–259. [Google Scholar] [CrossRef]
- Andoni, M.; Robu, V.; Flynn, D.; Abram, S.; Geach, D.; Jenkins, D.; McCallum, P.; Peacock, A. Blockchain technology in the energy sector: A systematic review of challenges and opportunities. Renew. Sustain. Energy Rev. 2019, 100, 143–174. [Google Scholar] [CrossRef]
- Wang, D.; Zhao, J.; Wang, Y. A survey on privacy protection of blockchain: The technology and application. IEEE Access 2020, 8, 108766–108781. [Google Scholar] [CrossRef]
- Rossetto, N.; Reif, V. Digitalization of the Electricity Infrastructure: A Key Enabler for the Decarbonization and Decentralization of the Power Sector; Florence School of Regulation; [Electricity]; European University Institute: Fiesole, Italy, 2021; Volume 47, Available online: https://cadmus.eui.eu/handle/1814/70736 (accessed on 2 December 2022).
- Doan, H.T.; Cho, J.; Kim, D. Peer-to-peer energy trading in smart grid through blockchain: A double auction-based game theoretic approach. IEEE Access 2021, 9, 49206–49218. [Google Scholar] [CrossRef]
- Zhou, Y.; Wu, J.; Long, C.; Ming, W. State-of-the-art analysis and perspectives for peer-to-peer energy trading. Engineering 2020, 6, 739–753. [Google Scholar] [CrossRef]
- Mazzola, L.; Denzler, A.; Christen, R. Towards a Peer-to-Peer Energy Market: An Overview. 2020. Available online: http://arxiv.org/abs/2003.07940 (accessed on 7 November 2022).
- Cali, U.; Cakir, O. Energy policy instruments for distributed ledger technology empowered peer-to-peer local energy markets. IEEE Access 2019, 7, 82888–82900. [Google Scholar] [CrossRef]
- Morstyn, T.; McCulloch, M.D. Peer-to-peer energy trading. In Analytics for the Sharing Economy: Mathematics, Engineering and Business Perspectives; Springer: Cham, Switzerland, 2020; pp. 279–300. [Google Scholar] [CrossRef]
- Sousa, T.; Soares, T.; Pinson, P.; Moret, F.; Baroche, T.; Sorin, E. Peer-to-peer and community-based markets: A comprehensive review. Renew. Sustain. Energy Rev. 2019, 104, 367–378. [Google Scholar] [CrossRef]
- Compagnucci, L.; Lepore, D.; Spigarelli, F.; Frontoni, E.; Baldi, M.; Di Berardino, L. Uncovering the potential of blockchain in the agri-food supply chain: An interdisciplinary case study. J. Eng. Technol. Manage. 2022, 65, 101700. [Google Scholar] [CrossRef]
- Nakamoto, S. Bitcoin: A Peer-to-Peer Electronic Cash System. 2020. Available online: https://bitcoin.org/bitcoin.pdf (accessed on 7 November 2022).
- Zhao, J.L.; Fan, S.; Yan, J. Overview of business innovations and research opportunities in blockchain and introduction to the special issue. Financ. Innov. 2016, 2, 2–7. [Google Scholar] [CrossRef]
- Gambino, A.; Bomprezzi, C. Blockchain e protezione dei dati personali. Il Dirit. Dell’Informazione e Dell’Informatica 2019, 35, 619–646. [Google Scholar]
- Islam, I.; Munim, K.M.; Oishwee, S.J.; Islam, A.K.M.N.; Islam, M.N. A critical review of concepts, benefits, and pitfalls of blockchain technology using concept map. IEEE Access 2020, 8, 68333–68341. [Google Scholar] [CrossRef]
- Fell, M.J.; Schneiders, A.; Shipworth, D. Consumer demand for blockchain-enabled Peer-to-Peer electricity trading in the United Kingdom: An online survey experiment. Energies 2019, 12, 3913. [Google Scholar] [CrossRef]
- De Almeida, L.; Cappelli, V.; Klausmann, N.; Van Soest, H. Peer-to-Peer Trading and Energy Community in the Electricity Market: Analysing the Literature on Law and Regulation and Looking Ahead to Future Challenges; Florence School of Regulation; [Electricity]; European University Institute: Fiesole, Italy, 2021; Volume 35, Available online: https://cadmus.eui.eu/handle/1814/70457 (accessed on 2 December 2022).
- van Soest, H. Peer-to-peer electricity trading: A review of the legal context. Compet. Regul. Netw. Ind. 2018, 19, 180–199. [Google Scholar] [CrossRef]
- Yang, Q.; Wang, H. Privacy-preserving transactive energy management for IoT-aided smart homes via blockchain. IEEE Internet Things J. 2021, 8, 11463–11475. [Google Scholar] [CrossRef]
- Siano, P.; de Marco, G.; Rolan, A.; Loia, V. A survey and evaluation of the potentials of distributed ledger technology for Peer-to-Peer transactive energy exchanges in local energy markets. IEEE Syst. J. 2019, 13, 3454–3466. [Google Scholar] [CrossRef]
- Wu, Y.; Wu, Y.; Cimen, H.; Vasquez, J.C.; Guerrero, J.P. P2P energy trading: Blockchain-enabled P2P energy society with multi-scale flexibility services. Energy Rep. 2022, 8, 3614–3628. [Google Scholar] [CrossRef]
- European Commission. Available online: https://ec.europa.eu/commission/presscorner/detail/en/IP_12_46 (accessed on 7 November 2022).
- Ibáñez, L.-D.; Kieron, O.; Simperl, E. On Blockchains and the General Data Protection Regulation. 2018. Available online: https://www.researchgate.net/publication/326913146_On_Blockchains_and_the_General_Data_Protection_Regulation (accessed on 7 November 2022).
- Daoui, S.; Fleinert-Jensen, T.; Lampiere, M. GDPR, Blockchain and the French Data Protection Authority: Many Answers but Some Remaining Questions. Stanf. J. Blockchain Law Policy 2019, 2, 240. [Google Scholar]
- Lyons, T.; Courcelas, L.; Timsit, K. Blockchain and the GDPR. Thematic Report. 2018. Available online: https://www.eublockchainforum.eu/sites/default/files/reports/20181016_report_gdpr.pdf (accessed on 7 November 2022).
- European Data Protection Supervisor. Available online: https://edps.europa.eu/data-protection/our-work/subjects/accountability_en (accessed on 7 November 2022).
- European Court of Justice. Available online: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A62012CJ0131 (accessed on 7 November 2022).
- European Court of Justice. Available online: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A62016CC0210 (accessed on 7 November 2022).
- European Court of Justice. Available online: https://eur-lex.europa.eu/legal-content/it/TXT/?uri=CELEX:62017CJ0040 (accessed on 7 November 2022).
- Fink, M. Blockchains and data protection in the European Union. Eur. Data Prot. Law Rev. 2018, 4, 17–35. [Google Scholar] [CrossRef]
- Commission Nationale de l’Informatique et des Libertés (CNIL). Available online: https://www.cnil.fr/sites/default/files/atoms/files/blockchain_en.pdf (accessed on 7 November 2022).
- European Parliament. Blockchain and the General Data Protection Regulation: Can Distributed Ledgers Be Squared with European Data Protection Law? 2019. Available online: https://www.europarl.europa.eu/RegData/etudes/STUD/2019/634445/EPRS_STU(2019)634445_EN.pdf (accessed on 7 November 2022).
- Xu, L.D.; Lu, Y.; Li, L. Embedding blockchain technology into IoT for security: A survey. IEEE Internet Things 2021, 8, 10452–10473. [Google Scholar] [CrossRef]
- Truong, N.B.; Sun, K.; Lee, G.M.; Guo, Y. GDPR-compliant personal data management: A blockchain-based solution. IEEE Trans. Inf. Secur. 2020, 15, 1746–1761. [Google Scholar] [CrossRef]
- Kadena, E.; Holicza, P. Security issues in the blockchain(ed) world. In Proceedings of the IEEE 18th International Symposium on Computational Intelligence and Informatics (CINT), Budapest, Hungary, 21–22 November 2019. [Google Scholar] [CrossRef]
- European Parliament. Available online: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52018IP0373 (accessed on 7 November 2022).
- Zemler, F.; Westner, M. Blockchain and GDPR: Application scenarios and compliance requirements. In Proceedings of the Portland International Conference on Management of Engineering and Technology (PICMET), Portland, OR, USA, 25–29 August 2019. [Google Scholar] [CrossRef]
- European Law Institute. Available online: https://www.europeanlawinstitute.eu/fileadmin/user_upload/p_eli/Publications/ELI_Principles_on_Blockchain_Technology__Smart_Contracts_and_Consumer_Protection.pdf (accessed on 7 November 2022).
- Finck, M.; Pallas, F. They who must not be identified—Distinguishing personal from non-personal data under the GDPR. Int. Data Priv. Law 2020, 10, 11–36. [Google Scholar] [CrossRef]
- Mourby, M.; Mackey, E.; Elliot, M.; Gowans, H.; Wallace, S.; Bell, J.; Smith, H.; Aidinlis, S.; Kaye, J. Are ‘pseudonymised’ data always personal data? Implications of the GDPR for administrative data research in the UK. Comput. Law Secur. Rep. 2018, 34, 222–233. [Google Scholar] [CrossRef]
- Martini, M.; Weinzierl, Q. Die Blockchain-Technologie und das Recht auf Vergessenwerden. Neue Z. Für Verwalt. 2017, 17, 1251–1256. [Google Scholar]
- Munjal, K.; Bhatia, R. A systematic review of homomorphic encryption and its contributions in healthcare industry. Complex Intell. Syst. 2022. [Google Scholar] [CrossRef] [PubMed]
- Feige, U.; Fiat, A.; Shamir, A. Zero-knowledge proofs of identity. J. Cryptol. 1988, 1, 77–94. [Google Scholar] [CrossRef]
- Giannopoulou, A. Putting data protection by design on the blockchain. Eur. Data Prot. Law Rev. 2021, 7, 388–399. [Google Scholar] [CrossRef]
- Curtis, S.K.; Lehner, M. Defining the sharing economy for sustainability. Sustainability 2019, 11, 567. [Google Scholar] [CrossRef]
- de Simón-Martín, M.; Bracco, S.; Piazza, G.; Pagnini, L.C.; González-Martínez, A.; Delfino, F. The role of energy communities in the energy framework. In Levelized Cost of Energy in Sustainable Energy Communities; Springer: Cham, Switzerland, 2022. [Google Scholar] [CrossRef]
- Cuenca, J.J.; Jamil, E.; Hayes, B. State of the art in energy communities and sharing economy concepts in the electricity sector. IEEE Trans. Ind. Appl. 2021, 57, 5737–5746. [Google Scholar] [CrossRef]
- De Almeinda, L.; Klausman, N. Peer-to-Peer, Energy Communities, Legal Definitions and Access to Markets. 2021. Available online: https://fsr.eui.eu/peer-to-peer-energy-communities-legal-definitions-and-access-to-markets/ (accessed on 7 November 2022).
- Lowitzsch, J.; Hoicka, C.E.; van Tulder, F.J. Renewable energy communities under the 2019 European Clean Energy Package—Governance model for the energy clusters of the future? Renew. Sustain. Energy Rev. 2020, 122, 109489. [Google Scholar] [CrossRef]
- Torabi Moghadam, S.; Di Nicoli, M.V.; Manzo, S.; Lombardi, P. Mainstreaming energy communities in the transition to a low-carbon future: A methodological approach. Energies 2020, 13, 1597. [Google Scholar] [CrossRef]
- Stephant, M.; Hassam-Ouari, K.; Abbes, D.; Labrunie, A.; Robyns, B. A survey on energy management and blockchain for collective self-consumption. In Proceedings of the 7th International Conference on Systems and Control (ICSC 2018), Valencia, Spain, 24–26 October 2018. [Google Scholar] [CrossRef]
- World Energy Council. Available online: https://www.worldenergy.org/assets/downloads/Full-White-paper_the-developing-role-of-blockchain.pdf (accessed on 7 November 2022).
- Esmat, A.; de Vos, M.; Ghiassi-Farrokhfal, Y.; Palensky, P.; Epema, D. A novel decentralized platform for peer-to-peer energy trading market with blockchain technology. Appl. Energy 2021, 282, 116123. [Google Scholar] [CrossRef]
- Thukral, M.K. Emergence of blockchain-technology application in peer-to-peer electrical-energy trading: A review. Clean Energy 2021, 5, 104–123. [Google Scholar] [CrossRef]
- Lei, N.; Masanet, E.; Koomey, J. Best practices for analyzing the direct energy use of blockchain technology systems: Review and policy recommendations. Energy Policy 2021, 156, 112422. [Google Scholar] [CrossRef]
- Council of European Energy Regulators. Available online: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32018L2001 (accessed on 7 November 2022).
- Greenspan, G. Avoiding the Pointless Blockchain Project. Available online: https://www.multichain.com/blog/2015/11/avoiding-pointless-blockchain-project/ (accessed on 2 December 2022).
- Baashar, Y.; Alkawsi, G.; Alkahtani, A.A.; Hashim, W.; Razali, R.A.; Tiong, S.K. Toward Blockchain Technology in the Energy Environment. Sustainability 2021, 13, 9008. [Google Scholar] [CrossRef]
- Malone, T.; Yates, J.; Benjamin, R. Electronic markets and electronic hierarchies. Commun. ACM 1987, 30, 484–497. [Google Scholar] [CrossRef]
- Wilkinson, S.; Hojckova, K.; Eon, C.; Morrison, G.M.; Sandén, B. Is peer-to-peer electricity trading empowering users? Evidence on motivations and roles in a prosumer business model trial in Australia. Energy Res. Soc. Sci. 2020, 66, 101500. [Google Scholar] [CrossRef]
- Catalini, C.; Gans, J.S. Some simple economics of the blockchain. Commun. ACM 2020, 63, 80–90. [Google Scholar] [CrossRef]
- Sun, R.; Garimella, A.; Han, W.; Chang, H.; Shaw, M.J. Transformation of the transaction cost and the agency cost in an organization and the applicability of blockchain—A case study of Peer-to-Peer insurance. Front. Blockchain 2020, 3, 24. [Google Scholar] [CrossRef]
- Peters, G.; Panayi, E. Understanding Modern Banking Ledgers through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money. 2015. Available online: https://ssrn.com/abstract=2692487 (accessed on 2 December 2022). [CrossRef]
- Abdella, J.; Shuaib, K. Peer to Peer distributed energy trading in smart grids: A survey. Energies 2018, 11, 1560. [Google Scholar] [CrossRef]
- International Renewable Energy Agency (IRENA). Available online: https://irena.org/-/media/Files/IRENA/Agency/Publication/2020/Jul/IRENA_Peer-to-peer_trading_2020.pd (accessed on 7 November 2022).
- Junlakarn, S.; Kokchang, P.; Audomvongseree, K. Drivers and challenges of peer-to-peer energy trading development in Thailand. Energies 2022, 15, 1229. [Google Scholar] [CrossRef]
- Scuri, S.; Tasheva, G.; Barros, L.; Nunes, N.J. An HCI perspective on distributed ledger technologies for Peer-to-Peer energy trading. In Proceedings of the 17th IFIP Conference on Human-Computer Interaction (INTERACT), Paphos, Cyprus, 2–6 September 2019. [Google Scholar] [CrossRef]
- Brisbois, M.C. Powershifts: A framework for assessing the growing impact of decentralized ownership of energy transitions on political decision-making. Energy Res. Soc. Sci. 2018, 50, 151–161. [Google Scholar] [CrossRef]
- Mollah, M.B.; Zhao, J.; Niyato, D.; Lam, K.-Y.; Zhang, X.; Ghias, A.M.Y.M.; Koh, L.H.; Yang, L. Blockchain for future smart grid: A comprehensive survey. IEEE Internet Things 2021, 8, 18–43. [Google Scholar] [CrossRef]
- Kwak, S.; Lee, J. Implementation of blockchain based P2P energy trading platform. In Proceedings of the 2021 International Conference on Information Networking (ICOIN), Jeju Island, Republic of Korea, 13–16 January 2021; pp. 5–7. [Google Scholar] [CrossRef]
- Kumari, A.; Gupta, R.; Tanwar, S.; Tyagi, S.; Kumar, N. When blockchain meets smart grid: Secure energy trading in demand response management. IEEE Netw. 2020, 34, 299–305. [Google Scholar] [CrossRef]
- Brilliantova, V.; Thurner, T.W. Blockchain and the future of energy. Technol. Soc. 2019, 57, 38–45. [Google Scholar] [CrossRef]
- Mannaro, K.; Pinna, A.; Marchesi, M. Crypto-trading: Blockchain-oriented energy market. In Proceedings of the 2017 AEIT International Annual Conference, Cagliari, Italy, 20–22 September 2017. [Google Scholar]
- Ahl, A.; Yarime, M.; Tanaka, K.; Sagawa, D. Review of blockchain-based distributed energy: Implications for institutional development. Renew. Sustain. Energy Rev. 2019, 107, 200–211. [Google Scholar] [CrossRef]
- Peter, V.; Paredes, J.; Rosado Rivial, M.; Soto Sepúlveda, E.; Hermosilla Astorga, D.A. Blockchain Meets Energy: Digital Solutions for a Decentralized and Decarbonized Sector; European University Institute: Fiesole, Italy, 2019; Available online: https://cadmus.eui.eu/handle/1814/63369 (accessed on 2 December 2022)Florence School of Regulation; Energy.
- Di Silvestre, M.L.; Gallo, P.; Guerrero, J.M.; Musca, R.; Riva Sanseverino, E.; Sciumè, G.; Vásquez, J.; Zizzo, G. Blockchain for power systems: Current trends and future applications. Renew. Sustain. Energy Rev. 2020, 119, 109585. [Google Scholar] [CrossRef]
- Dong, H.; Chengzhenghao, Z.; Jian, P.; Zheng, Y. Smart contract architecture for decentralized energy trading and management based on blockchains. Energy 2020, 199, 117417. [Google Scholar] [CrossRef]
- Monacchi, A.; Elmenreich, W. Assisted energy management in smart microgrids. J. Ambient Intell. Hum. Comput. 2016, 7, 901–913. [Google Scholar] [CrossRef]
- Kounelis, I.; Steri, G.; Giuliani, R.; Geneiatakis, D.; Neisse, R.; Nai Fovino, I. Fostering consumers’ energy market through smart contracts. In Proceedings of the International Conference in Energy and Sustainability in Small Developing Economies (ES2DE), Funchal, Portugal, 10–12 July 2017. [Google Scholar] [CrossRef]
- Kapassa, E.; Themistocleous, M.; Touloupos, M.; Quintanilla, J.R.; Papadaki, M. Blockchain in smart energy grids: A market analysis. In Proceedings of the 17th European, Mediterranean, and Middle Eastern Conference (EMCIS), Dubai, United Arab Emirates, 25–26 November 2020. [Google Scholar]
- Mylrea, M.; Gourisetti, S.N.G. Blockchain for smart grid resilience: Exchanging distributed energy at speed, scale and security. In Proceedings of the 2017 Resilience Week (RWS), Wilmington, DE, USA, 18–22 September 2017; pp. 18–23. [Google Scholar] [CrossRef]
- Nai Fovino, I.; Andreadou, N.; Geneiatakis, D.; Giuliani, R.; Kounelis, I.; Lucas, A.; Marinopoulos, A.; Martin, T.; Poursanidis, I.; Soupionis, I.; et al. Blockchain in the Energy Sector; Publications Office of the European Union: Luxembourg, 2021. [Google Scholar] [CrossRef]
- Borges, C.E.; Kapassa, E.; Touloupou, M.; Legarda Macón, J.; Casado-Mansilla, D. Blockchain application in P2P energy markets: Social and legal aspects. Connect. Sci. 2022, 34, 1066–1088. [Google Scholar] [CrossRef]
- Vieira, G.; Zhang, J. Peer-to-peer energy trading in a microgrid leveraged by smart contracts. Renew. Sustain. Energy Rev. 2021, 143, 110900. [Google Scholar] [CrossRef]
- Wang, Q.; Su, M. Integrating BCT into the energy sector—From theory of blockchain to research and application of energy blockchain. Comput. Sci. Rev. 2020, 37, 100275. [Google Scholar] [CrossRef]
- Huang, L.; Zhen, L.; Wang, J.; Zhang, X. Blockchain implementation for circular supply chain management: Evaluating critical success factors. Ind. Market. Manag. 2022, 102, 451–464. [Google Scholar] [CrossRef]
- Wang, H.; Chen, K.; Xu, D. A maturity model for blockchain adoption. Financ. Innov. 2016, 2, 12. [Google Scholar] [CrossRef]
- Yang, J.; Paudel, A.; Gooi, H.B.; Nguyen, H.D. A proof-of-stake public blockchain based pricing scheme for peer-to-peer energy trading. Appl. Energy 2021, 298, 117154. [Google Scholar] [CrossRef]
- Esposito, C.; de Santis, A.; Tortora, G.; Chang, H.; Choo, K.-K.R. Blockchain: A panacea for healthcare cloud-based data security and privacy? IEEE Cloud Comput. 2018, 5, 31–37. [Google Scholar] [CrossRef]
- Chod, J.; Trichakis, N.; Tsoukalas, G.; Aspegren, H.; Weber, M. On the financing benefits of supply chain transparency and blockchain adoption. Manag. Sci. 2020, 66, 4378–4396. [Google Scholar] [CrossRef]
- Khaqqi, K.N.; Sikorski, J.J.; Hadinoto, K.; Kraft, M. Incorporating seller/buyer reputation-based system in blockchain-enabled emission trading application. Appl. Energy 2018, 209, 8–19. [Google Scholar] [CrossRef]
- Javed, H.; Irfan, M.; Shehzad, M.; Abdul Muqeet, H.; Akhter, J.; Dagar, V.; Guerrero, J.M. Recent trends, challenges, and future aspects of p2p energy trading platforms in electrical-based networks considering blockchain technology: A roadmap toward environmental sustainability. Front. Energy Res. 2022, 10, 810395. [Google Scholar] [CrossRef]
- Parag, Y.; Sovacool, B.K. Electricity market design for the prosumer era. Nat. Energy 2016, 1, 16032. [Google Scholar] [CrossRef]
- Espe, E.; Potdar, V.; Chang, E. Prosumer communities and relationships in smart grids: A literature review, evolution and future directions. Energies 2018, 11, 2528. [Google Scholar] [CrossRef]
- Son, Y.-B.; Im, J.-H.; Kwon, H.-Y.; Jeon, S.-Y.; Lee, M.-K. Privacy-preserving Peer-to-Peer energy trading in blockchain-enabled smart grids using functional encryption. Energies 2020, 13, 1321. [Google Scholar] [CrossRef]
- Majeed, U.; Khan, L.U.; Yaqoob, I.; Ahsan Kazmi, S.M.; Salah, K.; Hong, C.S. Blockchain for IoT-based smart cities: Recent advances, requirements, and future challenges. J. Netw. Comput. Appl. 2021, 181, 103007. [Google Scholar] [CrossRef]
- Gai, K.; Wu, Y.; Zhu, L.; Qiu, M.; Shen, M. Privacy-preserving energy trading using consortium blockchain in smart grid. IEEE Trans. Ind. Inform. 2019, 15, 3548–3558. [Google Scholar] [CrossRef]
- German Energy Agency (DENA). Available online: https://www.dena.de/fileadmin/user_upload/dena-Studie_Blockchain_Integrierte_Energiewende_EN.pdf (accessed on 7 November 2022).
- Rui, Z.; Rui, X.; Ling, L. Security and privacy on blockchain. ACM Comput. Surv. 2019, 52, 1–34. [Google Scholar] [CrossRef]
- Mengelkamp, E.; Gärttner, J.; Rock, K.; Kessler, S.; Orsini, L.; Weinhardt, C. Designing microgrid energy markets: A case study: The Brooklyn Microgrid. Appl. Energy 2018, 210, 870–880. [Google Scholar] [CrossRef]
- Lang, M.; Müller, M. Blockchain and smart contracts in the energy industry: A European perspective. In Proceedings of the International Mining and Oil & Gas Law, Development, and Investment, Rio de Janeiro, Brazil, 10–12 April 2019; p. 17B-1. Available online: https://www.twobirds.com/-/media/pdfs/blockchain-and-smart-contracts-in-the-energy-industry--article.pdf (accessed on 7 November 2022).
- EU Blockchain Observatory & Forum. Available online: https://www.eublockchainforum.eu/sites/default/files/reports/EUBOF-Thematic_Report_Energy_Sector_0.pdf (accessed on 7 November 2022).
Domains | Challenges | Proposed Solutions |
---|---|---|
Accountability |
|
|
|
| |
Right to rectification |
|
|
Right to erasure |
|
|
Principle of purpose limitation |
|
|
Principle of data minimization |
|
|
Hashing technique and pseudonymization |
|
|
Domains | Challenges | Proposed Solutions |
---|---|---|
Technological maturity |
|
|
Disintermediation |
|
|
Data protection |
|
|
Social awareness and market players |
|
|
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. |
© 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
Share and Cite
Chiarini, A.; Compagnucci, L. Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges. Sustainability 2022, 14, 16305. https://doi.org/10.3390/su142316305
Chiarini A, Compagnucci L. Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges. Sustainability. 2022; 14(23):16305. https://doi.org/10.3390/su142316305
Chicago/Turabian StyleChiarini, Alessandra, and Lorenzo Compagnucci. 2022. "Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges" Sustainability 14, no. 23: 16305. https://doi.org/10.3390/su142316305
APA StyleChiarini, A., & Compagnucci, L. (2022). Blockchain, Data Protection and P2P Energy Trading: A Review on Legal and Economic Challenges. Sustainability, 14(23), 16305. https://doi.org/10.3390/su142316305