Leveraging Blockchain for Enhanced Visibility and Sustainability in the Energy Sector Supply Chain

Authors

  • Juan Zhang
  • Zeyu Lin
  • Junpeng Chen

DOI:

https://doi.org/10.62051/ijepes.v2n2.03

Keywords:

Blockchain, Supply Chain, Energy, Sustainability

Abstract

The energy sector faces significant challenges related to supply chain traceability, including issues with transparency, data integrity, regulatory compliance, and fraud prevention. Blockchain technology, with its decentralized, transparent, and immutable ledger, offers promising solutions to these challenges. This review explores the application of blockchain technology in enhancing supply chain traceability in the energy sector. It examines the potential benefits in terms of visibility, data integrity, compliance, and sustainability, and discusses real-world applications, challenges, and future directions. Case studies from renewable energy, fossil fuels, and smart grids illustrate blockchain's impact. Despite the promising benefits, technical, regulatory, and implementation challenges remain. Future research and development, along with supportive policy frameworks, are essential for realizing blockchain's full potential in transforming the energy supply chain into a more efficient, transparent, and sustainable system.

References

Anderson, P. (2018). Energy Supply Chain: A Global Perspective. Journal of Energy Economics, 45(3), 123-136.

Baker, S., & Shi, L. (2020). The Dynamics of Energy Supply Chains: A Review. Energy Policy, 88(1), 56-69.

Chen, X., Liu, M., Niu, Y., Wang, X., & Wu, Y. C. (2024). Deep-Learning-Based Lithium Battery Defect Detection via Cross-Domain Generalization. IEEE Access, vol. 12, pp. 78505-78514.

Lee, H. L., & Tang, C. S. (2018). Managing Supply Chain Risk: A Blockchain Perspective. Supply Chain Management Review, 22(4), 45-53.

Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf.

Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain Technology: Beyond Bitcoin. Applied Innovation Review, 2, 6-19.

Underwood, S. (2016). Blockchain Beyond Bitcoin. Communications of the ACM, 59(11), 15-17.

Yaga, D., Mell, P., Roby, N., & Scarfone, K. (2019). Blockchain Technology Overview. National Institute of Standards and Technology. NISTIR 8202.

Buterin, V. (2014). A Next-Generation Smart Contract and Decentralized Application Platform. Ethereum White Paper.

Ma, Z., Chen, X., Sun, T., Wang, X., Wu, Y. C., & Zhou, M. (2024). Blockchain-Based Zero-Trust Supply Chain Security Integrated with Deep Reinforcement Learning for Inventory Optimization. Future Internet, 16(163).

Tian, F. (2017). An Agri-food Supply Chain Traceability System for China Based on RFID & Blockchain Technology. 2017 International Conference on Service Systems and Service Management.

Saberi, S., Kouhizadeh, M., Sarkis, J., & Shen, L. (2019). Blockchain Technology and Its Relationships to Sustainable Supply Chain Management. International Journal of Production Research, 57(7), 2117-2135.

Kshetri, N. (2018). 1 Blockchain’s Roles in Meeting Key Supply Chain Management Objectives. International Journal of Information Management, 39, 80-89.

Francisco, K., & Swanson, D. (2018). The Supply Chain Has No Clothes: Technology Adoption of Blockchain for Supply Chain Transparency. Logistics, 2(1), 2.

Liang, Y., Wang, X., Wu, Y. C., Fu, H., & Zhou, M. (2023). A Study on Blockchain Sandwich Attack Strategies Based on Mechanism Design Game Theory. Electronics, 12(21), 4417.

Gupta, A., & Jain, S. (2018). Solar Power: The Path to a Sustainable Future. Renewable Energy Journal, 12(2), 143-150.

Liu, Y., & Barlow, C. Y. (2017). Wind Power Integration: A Review of Market Design. Renewable and Sustainable Energy Reviews, 56, 271-286.

Zhou, Q., & Li, Y. (2018). Hydropower: Balancing Renewable Energy and Environmental Challenges. Environmental Science & Technology, 52(12), 123-134.

Demirbas, A. (2017). Biomass Resources for Energy and Industry. Energy Sources, Part A: Recovery, Utilization, and Environmental Effects, 39(5), 403-410.

Brown, S., & Yücel, M. (2019). Oil and Gas Supply Chain: An Overview. Energy Economics, 50, 65-74.

Huo, Y., & Wang, M. (2018). Coal Supply Chain and Economic Analysis. Resources Policy, 55, 38-47.

Fukushima, K. (2017). Nuclear Power Supply Chain: Opportunities and Challenges. Progress in Nuclear Energy, 101, 56-65.

Christopher, M., & Holweg, M. (2017). Supply Chain 2.0: Managing Supply Chains in the Era of Turbulence. International Journal of Physical Distribution & Logistics Management, 41(1), 63-82.

Aitken, J., & Harrison, A. (2018). Supply Chain Information Systems and Performance: The Role of Internal and External Integration. International Journal of Operations & Production Management, 38(3), 234-255.

Kumar, S., & Dhingra, N. (2019). Improving Supply Chain Data Accuracy and Reliability. Journal of Supply Chain Management, 55(1), 68-83.

Bowen, F. E., & Hingley, M. (2020). Enhancing Trust and Transparency in Supply Chains: Blockchain’s Potential. Supply Chain Management: An International Journal, 25(2), 150-164.

Wang, X., Wu, Y. C., Ji, X., & Fu, H. (2024). Algorithmic discrimination: examining its types and regulatory measures with emphasis on US legal practices. Frontiers in Artificial Intelligence, 7, 1320277.

González, P., & Sarkis, J. (2019). Green Supply Chain Management Practices and Performance: A Review. Journal of Cleaner Production, 142, 370-382.

Xu, L., & Wang, L. (2018). Blockchain Technology for Enhancing Traceability and Safety in the Food Supply Chain. Food Control, 96, 171-183.

Bumblauskas, D., Mann, A., Dugan, B., & Rittmer, J. (2020). Blockchain Technology: Improving Transparency and Traceability in Food Supply Chains. Journal of Operations and Supply Chain Management, 13(1), 85-99.

Cole, R., & Aitken, J. (2019). Blockchain’s Role in Enhancing Supply Chain Visibility. Journal of Business Logistics, 40(1), 1-17.

Choi, T. Y., & Wu, Z. (2020). Blockchain’s Impacts on Supply Chain Management: Research Framework and Future Directions. Transportation Research Part E: Logistics and Transportation Review, 133, 101837.

Dubey, R., & Gunasekaran, A. (2019). Forensic and Predictive Analytics for Blockchain Technology and Supply Chain Risk Management. Management Decision, 57(10), 2926-2944.

Min, H. (2019). Blockchain Technology for Enhancing Supply Chain Resilience. Business Horizons, 62(1), 35-45.

Kamble, S., & Gunasekaran, A. (2020). Exploring Blockchain Technology in Sustainable Supply Chain Management. International Journal of Production Research, 58(2), 1-21.

Wang, X., Wu, Y. C., & Ma, Z. (2024). Blockchain in the courtroom: exploring its evidentiary significance and procedural implications in US judicial processes. Frontiers in Blockchain, 7, 1306058.

Downloads

Published

25-06-2024

Issue

Section

Articles

How to Cite

Zhang, J., Lin, Z., & Chen, J. (2024). Leveraging Blockchain for Enhanced Visibility and Sustainability in the Energy Sector Supply Chain. International Journal of Electric Power and Energy Studies, 2(2), 17-26. https://doi.org/10.62051/ijepes.v2n2.03