SoK: How Blockchain and Tokenization Will Transform the Energy Sector

Olga Ilina; Ksenia Tagirova; Artem Barger; Vladimir Gorgadze

doi:10.1109/coins57856.2023.10189196

SoK: How Blockchain and Tokenization Will Transform the Energy Sector

Olga Ilina, Ksenia Tagirova, Artem Barger, Vladimir Gorgadze

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Tokenization and blockchain technology might significantly improve the energy industry by making electricity production, transmission, and consumption more open, safe, and effective. Tokenization enables the establishment of digital assets that reflect ownership or access to energy resources and enables blockchain to trace the origin and flow of energy produced. By incorporating these elements, we can build a more distributed and egalitarian energy infrastructure and make it easier to use renewable energy. However, legal barriers, integration with current systems, and scalability remain obstacles to the widespread use of these technologies in the energy industry. Therefore, there is a need for more study and development before the energy industry can ultimately reap the benefits of blockchain and tokenization. Accordingly, in this work, we suggest a systematization of knowledge to capture recent development and summarize research in the blockchain domain and its application to the energy sector.

Original language	English
Title of host publication	2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9798350346473
DOIs	https://doi.org/10.1109/coins57856.2023.10189196
State	Published - 2023
Externally published	Yes
Event	2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023 - Berlin, Germany Duration: 23 Jul 2023 → 25 Jul 2023

Publication series

Name	2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023

Conference

Conference	2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023
Country/Territory	Germany
City	Berlin
Period	23/07/23 → 25/07/23

Bibliographical note

Publisher Copyright:
© 2023 IEEE.

Keywords

Blockchain
DLT
Energy
Tokenization

ASJC Scopus subject areas

Artificial Intelligence
Control and Optimization
Information Systems

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1109/coins57856.2023.10189196

Cite this

Ilina, O., Tagirova, K., Barger, A., & Gorgadze, V. (2023). SoK: How Blockchain and Tokenization Will Transform the Energy Sector. In 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023 (2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/coins57856.2023.10189196

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title = "SoK: How Blockchain and Tokenization Will Transform the Energy Sector",

abstract = "Tokenization and blockchain technology might significantly improve the energy industry by making electricity production, transmission, and consumption more open, safe, and effective. Tokenization enables the establishment of digital assets that reflect ownership or access to energy resources and enables blockchain to trace the origin and flow of energy produced. By incorporating these elements, we can build a more distributed and egalitarian energy infrastructure and make it easier to use renewable energy. However, legal barriers, integration with current systems, and scalability remain obstacles to the widespread use of these technologies in the energy industry. Therefore, there is a need for more study and development before the energy industry can ultimately reap the benefits of blockchain and tokenization. Accordingly, in this work, we suggest a systematization of knowledge to capture recent development and summarize research in the blockchain domain and its application to the energy sector.",

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author = "Olga Ilina and Ksenia Tagirova and Artem Barger and Vladimir Gorgadze",

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year = "2023",

doi = "10.1109/coins57856.2023.10189196",

language = "English",

series = "2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023",

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Ilina, O, Tagirova, K, Barger, A & Gorgadze, V 2023, SoK: How Blockchain and Tokenization Will Transform the Energy Sector. in 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023. 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023, Institute of Electrical and Electronics Engineers Inc., 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023, Berlin, Germany, 23/07/23. https://doi.org/10.1109/coins57856.2023.10189196

SoK: How Blockchain and Tokenization Will Transform the Energy Sector. / Ilina, Olga; Tagirova, Ksenia; Barger, Artem et al.
2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023. Institute of Electrical and Electronics Engineers Inc., 2023. (2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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T1 - SoK

T2 - 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023

AU - Ilina, Olga

AU - Tagirova, Ksenia

AU - Barger, Artem

AU - Gorgadze, Vladimir

PY - 2023

Y1 - 2023

N2 - Tokenization and blockchain technology might significantly improve the energy industry by making electricity production, transmission, and consumption more open, safe, and effective. Tokenization enables the establishment of digital assets that reflect ownership or access to energy resources and enables blockchain to trace the origin and flow of energy produced. By incorporating these elements, we can build a more distributed and egalitarian energy infrastructure and make it easier to use renewable energy. However, legal barriers, integration with current systems, and scalability remain obstacles to the widespread use of these technologies in the energy industry. Therefore, there is a need for more study and development before the energy industry can ultimately reap the benefits of blockchain and tokenization. Accordingly, in this work, we suggest a systematization of knowledge to capture recent development and summarize research in the blockchain domain and its application to the energy sector.

AB - Tokenization and blockchain technology might significantly improve the energy industry by making electricity production, transmission, and consumption more open, safe, and effective. Tokenization enables the establishment of digital assets that reflect ownership or access to energy resources and enables blockchain to trace the origin and flow of energy produced. By incorporating these elements, we can build a more distributed and egalitarian energy infrastructure and make it easier to use renewable energy. However, legal barriers, integration with current systems, and scalability remain obstacles to the widespread use of these technologies in the energy industry. Therefore, there is a need for more study and development before the energy industry can ultimately reap the benefits of blockchain and tokenization. Accordingly, in this work, we suggest a systematization of knowledge to capture recent development and summarize research in the blockchain domain and its application to the energy sector.

KW - Blockchain

KW - DLT

KW - Energy

KW - Tokenization

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M3 - Conference contribution

AN - SCOPUS:85167868687

T3 - 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023

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PB - Institute of Electrical and Electronics Engineers Inc.

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Ilina O, Tagirova K, Barger A, Gorgadze V. SoK: How Blockchain and Tokenization Will Transform the Energy Sector. In 2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023. Institute of Electrical and Electronics Engineers Inc. 2023. (2023 IEEE International Conference on Omni-Layer Intelligent Systems, COINS 2023). doi: 10.1109/coins57856.2023.10189196

SoK: How Blockchain and Tokenization Will Transform the Energy Sector

Abstract

Publication series

Conference

Bibliographical note

Keywords

ASJC Scopus subject areas

UN SDGs

Access to Document

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Cite this