Review of Blockchain Technology and its Expectations: Case of the Energy Sector

This article suggests that the worldwide relevance of blockchain technology is motivated by the changes that it is expected to cause in: (i) the way that business is organised and (ii) regulated, as well as (iii) by the way that it changes the role of individuals within a society. The article presents an overview of the features of blockchain technology. It then takes a closer look into the developments within the energy sector across the world to gain a preliminary indication of whether the stated expectations are coming to reality. As a result of this review, we remain cautiously optimistic that blockchain technology could deliver the expected impact

Blockchain Technology and its Applications Across Multiple Domains: A Survey

Blockchain technology has become an active area of research and a technological option for many businesses and industrial communities. With its distributed, decentralized, and trustless nature, blockchain can provide businesses with new opportunities and benefits through increased efficiency, reduced costs, enhanced integrity and transparency, better security, and improved traceability. Although blockchain’s largest applications have been in the finance and banking sector, we now see experiments and proposed applications in different fields. This paper provides an overview of blockchain technology; it brings together all the key design features, characteristics, and benefits of blockchain that make it a superior and unique technology, and it presents the popular consensus protocols and taxonomy of blockchain systems. Additionally, the paper surveys blockchain-based applications across multiple domains such as in finance, insurance, supply chain management, energy, advertising and media, real estate and healthcare. It aims at examining the industries’ key issues, blockchain solutions and use cases. The paper highlights three broad limitations that blockchain technology presents: scalability, security, and regulation, and shows how these challenges could impact blockchain application and adoption

Review of blockchain-based distributed energy: Implications for institutional development

The future of energy is complex, with fluctuating renewable resources in increasingly distributed systems. It is suggested that blockchain technology is a timely innovation with potential to facilitate this future. Peer-to-peer (P2P) microgrids can support renewable energy as well as economically empower consumers and prosumers. However, the rapid development of blockchain and prospects for P2P energy networks is coupled with several grey areas in the institutional landscape. The purpose of this paper is to holistically explore potential challenges of blockchain-based P2P microgrids, and propose practical implications for institutional development as well as academia. An analytical framework for P2P microgrids is developed based on literature review as well as expert interviews. The framework incorporates 1) Technological, 2) Economic, 3) Social, 4) Environmental and 5) Institutional dimensions. Directions for future work in practical and academic contexts are identified. It is suggested that bridging the gap from technological to institutional readiness would require the incorporation of all dimensions as well as their inter-relatedness. Gradual institutional change leveraging community-building and regulatory sandbox approaches are proposed as potential pathways in incorporating this multi-dimensionality, reducing cross-sectoral silos, and facilitating interoperability between current and future systems. By offering insight through holistic conceptualization, this paper aims to contribute to expanding research in building the pillars of a more substantiated institutional arch for blockchain in the energy sector

Next Generation Business Ecosystems: Engineering Decentralized Markets, Self-Sovereign Identities and Tokenization

Digital transformation research increasingly shifts from studying information systems within organizations towards adopting an ecosystem perspective, where multiple actors co-create value. While digital platforms have become a ubiquitous phenomenon in consumer-facing industries, organizations remain cautious about fully embracing the ecosystem concept and sharing data with external partners. Concerns about the market power of platform orchestrators and ongoing discussions on privacy, individual empowerment, and digital sovereignty further complicate the widespread adoption of business ecosystems, particularly in the European Union. In this context, technological innovations in Web3, including blockchain and other distributed ledger technologies, have emerged as potential catalysts for disrupting centralized gatekeepers and enabling a strategic shift towards user-centric, privacy-oriented next-generation business ecosystems. However, existing research efforts focus on decentralizing interactions through distributed network topologies and open protocols lack theoretical convergence, resulting in a fragmented and complex landscape that inadequately addresses the challenges organizations face when transitioning to an ecosystem strategy that harnesses the potential of disintermediation. To address these gaps and successfully engineer next-generation business ecosystems, a comprehensive approach is needed that encompasses the technical design, economic models, and socio-technical dynamics. This dissertation aims to contribute to this endeavor by exploring the implications of Web3 technologies on digital innovation and transformation paths. Drawing on a combination of qualitative and quantitative research, it makes three overarching contributions: First, a conceptual perspective on \u27tokenization\u27 in markets clarifies its ambiguity and provides a unified understanding of the role in ecosystems. This perspective includes frameworks on: (a) technological; (b) economic; and (c) governance aspects of tokenization. Second, a design perspective on \u27decentralized marketplaces\u27 highlights the need for an integrated understanding of micro-structures, business structures, and IT infrastructures in blockchain-enabled marketplaces. This perspective includes: (a) an explorative literature review on design factors; (b) case studies and insights from practitioners to develop requirements and design principles; and (c) a design science project with an interface design prototype of blockchain-enabled marketplaces. Third, an economic perspective on \u27self-sovereign identities\u27 (SSI) as micro-structural elements of decentralized markets. This perspective includes: (a) value creation mechanisms and business aspects of strategic alliances governing SSI ecosystems; (b) business model characteristics adopted by organizations leveraging SSI; and (c) business model archetypes and a framework for SSI ecosystem engineering efforts. The dissertation concludes by discussing limitations as well as outlining potential avenues for future research. These include, amongst others, exploring the challenges of ecosystem bootstrapping in the absence of intermediaries, examining the make-or-join decision in ecosystem emergence, addressing the multidimensional complexity of Web3-enabled ecosystems, investigating incentive mechanisms for inter-organizational collaboration, understanding the role of trust in decentralized environments, and exploring varying degrees of decentralization with potential transition pathways

Decision Analytics and Decentralized Ledger Technologies for Determination and Preservation of Spare Part Value in Aircraft Maintenance

Aircraft spare parts are used to quickly replace defective parts and ideally avoid expensive aircraft-on-ground situations. Understanding the Fair Market Value of surplus parts is of eminent importance for the competitive advantage of a company. Decisions such as purchase, sale, storage or scrapping are made on the basis of the determined value. Domain experts state that the value of a part depends significantly on its specific characteristics, condition and workshop event history. If the documentation of this history is incomplete, this can lead to a complete loss of value of the part, since, for example, safety-relevant parts may no longer be used without complete documentation. For companies that want to be able to survive in the highly competitive Maintenance Repair and Overhaul market, the use of digital technologies for data-based decision making has become unavoidable. The drowning of data while at the same time thirsting for information affects all market participants who manage their spare parts using digital technologies. The competitive advantage over others is now to use this data efficiently and make decisions based on data rather than experience and instinct. On the other hand, processes still exist in this industry that require documentation in paper form. One such process is the documentation of workshop events for safety-relevant spare parts by means of certificates. Low mutual trust and the heterogeneity of regional requirements in a global market prohibit the establishment of a central instance for data management. The determination of a Fair Market Value was carried out manually for a long time, with great personnel effort and low reliability. The design of an Automated Spare Part Valuation concept provides a basis for data owners to use the amount of data reliably. Similar implementations in industry and with integrated automated evaluation prove the usability. The problem of incomplete certificates of workshop events is addressed and solved by the conception, implementation and evaluation of a Blockchain-based Certification System. The characteristics of a blockchain, in particular its decentralization and persistence, meet the requirements that could not previously be met in an environment with a lack of trust and due to the danger of a single point of failure.Flugzeugersatzteile dienen dem schnellen Austausch von defekten Teilen und vermeiden im Idealfall teure Aircraft-on-Ground-Situationen. Das Verständnis für einen Fair Market Value der überschüssigen Teile ist von eminenter Bedeutung für den Wettbewerbsvorteil eines Unternehmens. Entscheidungen wie Kauf, Verkauf, Einlagerung oder Verschrottung werden auf Basis des ermittelten Werts getroffen. Domänenexperten geben an, dass der Wert eines Teils maßgeblich von seinen spezifischen Charakteristika, seinem Zustand und seiner Werkstattereignishistorie abhängt. Ist der Nachweis dieser Historie lückenhaft, so kann es zum vollständigen Wertverlust des Teils kommen, da etwa sicherheitsrelevante Teile ohne lückenlose Nachweise nicht weiter verwendet werden dürfen. Für Unternehmen, die in der Lage sein wollen im starken Wettbewerb des Maintenance Repair and Overhaul Markts zu bestehen ist der Einsatz digitaler Technologien zur datenbasierten Entscheidungsfindung mittlerweile unumgänglich. Das Ertrinken an Daten bei gleichzeitigem Verdursten an Informationen trifft alle Marktteilnehmer, die ihre Ersatzteile mittels digitaler Technologien verwalten. Der Wettbewerbsvorteil gegenüber anderen besteht nun darin, diese Daten effizient zu nutzen und Entscheidungen weniger nach Erfahrung und Instinkt, sondern datenbasiert zu treffen. Andererseits existieren auch in dieser Branche immer noch Prozesse, die eine Dokumentation in Papierform erfordern. Ein solcher Prozess ist die Dokumentation von Werkstattereignissen für sicherheitsrelevante Ersatzteile durch Zertifikate. Ein geringes Vertrauen untereinander und die Heterogenität regionaler Anforderungen in einem globalen Markt verbieten die Etablierung einer zentralen Instanz zur Verwaltung der Daten. Die Ermittlung eines Fair Market Value erfolgte lange Zeit manuell, unter großem personellen Aufwand und geringer Zuverlässigkeit. Die Konzeption eines Automated Spare Part Valuation Konzepts bildet eine Grundlage für Inhaber von Daten, um die Menge an Daten verlässlich zu nutzen. Ähnliche Umsetzungen in der Industrie und mit integrierter automatisierter Bewertung belegen die Einsatzfähigkeit. Das Problem der lückenhaften Zertifikate von Werkstattereignissen wird durch die Konzeptionierung, Implementierung und Evaluation eines Blockchain-based Certification System adressiert und gelöst. Die Eigenschaften einer Blockchain, insbesondere die Dezentralität und Persistenz, erfüllen die Anforderungen, die in einem Umfeld mit mangelndem Vertrauen und aufgrund der Gefahr eines Single Point of Failure, bisher nicht zu erfüllen waren

A P2P Networking Simulation Framework For Blockchain Studies

Recently, blockchain becomes a disruptive technology of building distributed applications (DApps). Many researchers and institutions have devoted their resources to the development of more effective blockchain technologies and innovative applications. However, with the limitation of computing power and financial resources, it is hard for researchers to deploy and test their blockchain innovations in a large-scape physical network. Hence, in this dissertation, we proposed a peer-to-peer (P2P) networking simulation framework, which allows to deploy and test (simulate) a large-scale blockchain system with thousands of nodes in one single computer. We systematically reviewed existing research and techniques of blockchain simulator and evaluated their advantages and disadvantages. To achieve generality and flexibility, our simulation framework lays the foundation for simulating blockchain network with different scales and protocols. We verified our simulation framework by deploying the most famous three blockchain systems (Bitcoin, Ethereum and IOTA) in our simulation framework. We demonstrated the effectiveness of our simulation framework with the following three case studies: (a) Improve the performance of blockchain by changing key parameters or deploying new directed acyclic graph (DAG) structure protocol; (b) Test and analyze the attack response of Tangle-based blockchain (IOTA) (c) Establish and deploy a new smart grid bidding system for demand side in our simulation framework. This dissertation also points out a series of open issues for future research