Zhu, S., Song, M., Lim, M. K. , Wang, J. and Zhao, J. (2020) The development of energy blockchain and its implications for China's energy sector. Resources Policy, 66, 101595. (doi: 10.1016/j.resourpol.2020.101595)
Full text not currently available from Enlighten.
Abstract
With technology progressing and the decreasing cost of renewable energy, consumers require energy supply to be smarter, cleaner, and more sustainable than before. By providing a decentralized trading mechanism, blockchain technology can facilitate sustainable energy consumption and achieve a circular economy. This study analyzes how China can employ blockchain technology to reform its energy sector. We survey the progress of blockchain technology in the energy sector and explore typical cases of energy blockchains in the world. We discuss the advantages and disadvantages of applying blockchain to China's energy sector. China's monopoly market structure in energy supply impedes the application of blockchain technology, but the expansion of clean energy provides a huge opportunity for it. Although China's technological level is lagging, the biggest obstacle is not technology but rather policy. We conclude that China should loosen its regulatory environment, amend the relevant laws, and balance the conflict between management and innovation.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Lim, Professor Ming |
| Creator Roles: | |
| Authors: | Zhu, S., Song, M., Lim, M. K., Wang, J., and Zhao, J. |
| College/School: | College of Social Sciences > Adam Smith Business School > Management |
| Journal Name: | Resources Policy |
| Publisher: | Elsevier |
| ISSN: | 0301-4207 |
| ISSN (Online): | 1873-7641 |
| ISBN: | 03014207 |
| Published Online: | 07 February 2020 |
University Staff: Request a correction | Enlighten Editors: Update this record
Deposit and Record Details
Deposit and Record Details