Blockchain Technology: Revolutionizing Data Security in Energy Trading Risk Management

Authors

  • Niranjan Mithun Prasad Visvesvaraya Technological University, India Author

DOI:

https://doi.org/10.32628/CSEIT25112359

Keywords:

Blockchain security, Cryptographic protocols, Energy trading, Risk management, Smart contracts

Abstract

This comprehensive article explores the transformative impact of blockchain technology on energy trading risk management systems. The article examines how blockchain addresses critical challenges in data security, transparency, and regulatory compliance within the energy sector. Through detailed analysis of distributed ledger infrastructure, smart contract integration, and cryptographic security measures, the research demonstrates significant improvements in operational efficiency, transaction processing, and risk mitigation. The investigation encompasses automated compliance frameworks, data privacy mechanisms, and scalability solutions, highlighting how blockchain technology enhances market participation while reducing operational costs. The article also evaluates emerging technologies and industry standards, providing insights into future developments that will shape secure and efficient energy trading operations.

Downloads

Download data is not yet available.

References

Sampath Kumar Venkatachary, et al., "Economic Impacts of Cyber Security in Energy Sector: A Review," International Journal of Energy Economics and Policy, 2017. Available: https://www.researchgate.net/publication/321028312_Economic_Impacts_of_Cyber_Security_in_Energy_Sector_A_Review

Vikas Khare, et al., "Renewable energy trading: Assessment by blockchain," Cleaner Energy Systems Volume 8, August 2024, 100119. Available: https://www.sciencedirect.com/science/article/pii/S277278312400013X

Debora Coll-Mayor, et al., "Distributed Ledger Technologies for the Energy Sector: Facilitating Interoperability Analysis," IEEE Open Access Journal of Power and Energy, 2023. Available: https://www.researchgate.net/publication/372531155_Distributed_ledger_technologies_for_the_energy_sector_facilitating_interoperability_analysis

Desen Kirli, et al., "Smart contracts in energy systems: A systematic review of fundamental approaches and implementations," Renewable and Sustainable Energy Reviews, Volume 158, April 2022, 112013. Available: https://www.sciencedirect.com/science/article/pii/S1364032121012764

Yunhua He, et al., "Review of data security within energy blockchain: A comprehensive analysis of storage, management, and utilization," High-Confidence Computing, Volume 4, Issue 3, September 2024, 100233. Available: https://www.sciencedirect.com/science/article/pii/S2667295224000369

Xin Lu, et al., "Trust-DETM: Distributed Energy Trading Model Based on Trusted Execution Environment," Mathematics 2023. Available: https://www.mdpi.com/2227-7390/11/13/2934

Shi-man Guo, et al., "Blockchain-based smart trading mechanism for renewable energy power consumption vouchers and green certificates: Platform design and simulation," Applied Energy, Volume 369, 1 September 2024, 123351. Available: https://www.sciencedirect.com/science/article/abs/pii/S0306261924007347

Shangyu Xie, et al., "Privacy Preserving Distributed Energy Trading," IEEE 40th International Conference on Distributed Computing Systems (ICDCS), 2021. Available: https://ieeexplore.ieee.org/document/9355630

Xunyan Jiang, et al., "A Scalable Mechanism Based on Blockchain for InformationProcessing in Energy Trading,"Discrete Dynamics in Nature and SocietyVolume 2020. Available: https://onlinelibrary.wiley.com/doi/epdf/10.1155/2020/8838601

Tianqi Jiang, et al., "Blockchain for energy market: A comprehensive survey," Sustainable Energy, Grids and Networks, Volume 41, March 2025, 101614. Available: https://www.sciencedirect.com/science/article/abs/pii/S2352467724003448

Bernd Teufel, et al., "Blockchain energy: Blockchain in future energy systems," Journal of Electronic Science and Technology, Volume 17, Issue 4, December 2019, 100011. Available: https://www.sciencedirect.com/science/article/pii/S1674862X20300057

Daniele Spinella, et al., "Future Proofing Energy Trading," PwC Energy Sector Analysis, February 2025.Available: https://www.pwc.de/de/energiewirtschaft/pwc-studie-energy-trading.pdf

Downloads

Published

03-03-2025

Issue

Section

Research Articles