Abstract:

This work provides a comprehensive overview of fundamental principles that underpin blockchain technologies, such as system architectures and distributed consensus algorithms. The authors focus on blockchain solutions for the energy industry and inform the state-of-the-art by thoroughly reviewing the literature and current business cases. This study reviews 140 blockchain research projects and startups from which the authors construct a map of the potential and relevance of blockchains for energy applications. These initiatives were systematically classified into different groups according to the field of activity, implementation platform and consensus strategy used. Opportunities, potential challenges and limitations for a number of use cases are discussed, ranging from emerging peer-to-peer (P2P) energy trading and Internet of Things (IoT) applications, to decentralised marketplaces, electric vehicle charging and e-mobility. Blockchain technologies have been explored by a large number of companies for their use in EV applications. Electric vehicles and emobility are a natural application for blockchains. Opportunities for blockchain innovation in e-mobility applications are significant, however certain challenges need to be addressed. The paper ends with a discussion of challenges and market barriers the technology needs to overcome to get past the hype phase, prove its commercial viability and finally be adopted in the mainstream. Additional research initiatives, trials, projects and collaborations will show if the technology can reach its full potential, prove its commercial viability and finally be adopted in the mainstream.