Blockchain in the Energy Sector: An Advancing Technology to Tackle Global Climate Change?

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Alexander Freier Reimund Schwarze

Blockchain in the Energy Sector

An Advancing Technology to Tackle Global Climate Change?

Alexander Freier, Reimund Schwarze, Alejandro Bernhard

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English

ibidem-Verlag, Jessica Haunschild u Christian Schon
31 May 2024

Energy industries & utilities; Global warming; Alternative & renewable energy sources & technology; Distributed databases

Renewable energy sources became a key research focus in the field of global environmental governance. Within this context, new technical innovations seek to overcome challenges resulting from volatile renewable energy production and lacking storage capacities. Blockchain, a distributed ledger technology using cryptography, gained prominence as an integral component within the increasingly decentralized and digitalized global energy infrastructure.

Against this background, Alexander Freier argues that the application of blockchain technologies represents a viable option to both enhance the efficiency and balancing of renewable energy as well as to subsequently reduce GHG emissions if the following three components are met: the ongoing implementation of technological advancements, an adequate global normative framework, and general trust on behalf of key market actors to promote blockchain in the energy sector on a global scale.

Departing from an analysis of the relationship between climate change and energy, Freier conducts a legal analysis to explore possible ʼbottom-upʼ perspectives for the implementation and transfer of technological innovation derived from climate contracts. This analysis examines the technological infrastructure surrounding blockchain energy as well as its application to the Brooklyn MicroGrid in the US and the WindNODE trading platform in Germany from an International Relations perspective.

By: Alexander Freier
Preface by: Reimund Schwarze, Alejandro Bernhard
Imprint: ibidem-Verlag, Jessica Haunschild u Christian Schon
Country of Publication: Germany
Dimensions: Height: 21mm, Width: 15mm, Spine: 1mm
Weight: 198g
ISBN: 9783838217178
ISBN 10: 3838217179
Pages: 120
Publication Date: 31 May 2024
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Alexander Freier studied Political Science and holds a doctorate in Global Studies from the University of Leipzig, Germany. He earned a double Master’s degree in Business Administration and International Business Administration from the Catholic University of Cordoba, Argentina, and the European University Viadrina Frankfurt/Oder, Germany. He is former professor of International Relations at the Catholic University of Cordoba, Argentina, and Research Associate at the Centre for Blockchain Technologies at University College London, United Kingdom. Since 2021, he has also been responsible for Strategy and International Affairs at the renewable energy project development company Energiequelle GmbH, Germany. His research focuses on the nexus between renewable energy and climate change policies. Since 2019, he has been exploring the opportunities to implement blockchain-based solutions in the energy sector as well as their potential to serve as climate technologies. His most recent research project focused on the usage of renewable energy to enhance the sustainability of Proof-of-Work mining.