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Blockchain technology in the chemical industry: Machine-to-machine electricity market
Ist Teil von
Applied energy, 2017-06, Vol.195, p.234-246
Ort / Verlag
Elsevier Ltd
Erscheinungsjahr
2017
Link zum Volltext
Quelle
Elsevier ScienceDirect Journals Complete
Beschreibungen/Notizen
[Display omitted]
•An implementation of blockchain technology facilitating a M2M electricity market.•Industrial plants are trading electricity with each other over a blockchain.•Data produced by process flow sheet models of industrial equipment are utilized.•Technical details and background of blockchain technology are presented.•This paper explores blockchain technology in relation to Industry 4.0.
The purpose of this paper is to explore applications of blockchain technology related to the 4th Industrial Revolution (Industry 4.0) and to present an example where blockchain is employed to facilitate machine-to-machine (M2M) interactions and establish a M2M electricity market in the context of the chemical industry. The presented scenario includes two electricity producers and one electricity consumer trading with each other over a blockchain. All participants are supplied with realistic data produced by process flow sheet models. This work contributes a proof-of-concept implementation of the scenario. Additionally, this paper describes and discusses the research and application landscape of blockchain technology in relation to the Industry 4.0. It concludes that this technology has significant under-researched potential to support and enhance the efficiency gains of the revolution and identifies areas for future research.