| Title | The transition toward merging big data analytics, IoT, and artificial intelligence with blockchain in transactive energy markets |
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| Author | Shahinzadeh, H; Mohammadali Zanjani, S; Moradi, J; Fayaz-Dastgerdi, M -H; Yaici, W ; Benbouzid, M |
| Source | 2022 IEEE Global Energy Conference; 2022 p. 1-6, https://doi.org/10.1109/GEC55014.2022.9986604 |
| Image |  |
| Year | 2022 |
| Alt Series | Natural Resources Canada, Contribution Series 20230029 |
| Publisher | IEEE |
| Document | serial |
| Lang. | English |
| Media | paper; digital; on-line |
| File format | pdf |
| Subjects | Science and Technology; energy; Artificial intelligence |
| Illustrations | figures; tables |
| Program | CanmetENERGY - Ottawa Buildings and Renewables Group - Hybrid Energy Systems |
| Released | 2022 12 29 |
| Abstract | Blockchain is a special technology for peer-to-peer (P2P) trading platforms, which uses decentralized storage to record all transaction data. Blockchain was first used in 2009 in the infrastructure of
the financial sector of the Bitcoin cryptocurrency. Recently, further applications have evolved in this area to provide decentralized transaction storage by employing innovative mechanisms that enable decentralized operation. This mechanism is called
a smart contract that operates based on individually defined rules (e.g., quality, quantity, and price specifications) that enable an independent matching of market players at the distribution level on the supplier side and their potential customers
and end-users as well as prosumers. In this article, in addition to introducing the concept of Blockchain, the way this cutting-edge technology deals with different agents in the energy sector and markets and its impact on the operation performance
of the electricity and energy industry have been examined. Thus, merging other emerging technologies and platforms, such as big data analysis, the Internet of Things (IoT), and artificial intelligence (AI) with Blockchain, can solve many practical
open challenges in smart electrical grids and the energy domain. This article delves into the impacts of integrating these platforms to boost the interoperability between different components and enhance the liquidity of markets. |
| Summary | (Plain Language Summary, not published)
Blockchain is a special technology for peer-to-peer (P2P) trading platforms, which uses decentralized storage to record all transaction data. Blockchain
was first used in 2009 in the infrastructure of the financial sector of the Bitcoin cryptocurrency. Recently, further applications have evolved in this area to provide decentralized transaction storage by employing innovative mechanisms that enable
decentralized operation. This mechanism is called a smart contract that operates based on individually defined rules (e.g., quality, quantity, and price specifications) that enable an independent matching of market players at the distribution level
on the supplier side and their potential customers and end-users as well as prosumers. In this article, in addition to introducing the concept of Blockchain, the way this cutting-edge technology deals with different agents in the energy sector and
markets and its impact on the operation performance of the electricity and energy industry have been examined. Thus, merging other emerging technologies and platforms, such as big data analysis, the Internet of Things (IoT), and artificial
intelligence (AI) with Blockchain, can solve many practical open challenges in smart electrical grids and the energy domain. This article delves into the impacts of integrating these platforms to boost the interoperability between different
components and enhance the liquidity of markets. |
| GEOSCAN ID | 331846 |
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