Implementation of block-chain technology in the European Union energy payments and logistic

Abstract

Purpose

The purpose of this paper that will address in this paper are: how to implement and test a reliable Block-chain-based energy system for the EU energy payments and logistic? What are the main results, impacts and implications of a Block-chain-based energy system for the EU energy payments and logistic?

Design/methodology/approach

The main aim of this study is to propose a Block-chain-based method to offer a secure, reliable and transparent method for energy logistic and payments for European Energy Transactions. To accomplish that aim, the research method of the study follows the design science research approach of smart contracts in the EU Energy logistic and payments. This research approach mainly consists of five sequential steps which are (1) problem and motivation identification, (2) solution objectives definition, (3) design and development and (4) demonstration and evaluation.

Findings

Results of data model demonstrate that the Block-chain-based energy system here can be used for any EU energy payments and logistics. Based on the data results of the model that mentioned above enhance the security and the integrity of the energy payments and logistic by using cryptographic techniques and consensus mechanisms to prevent and detect any tampering or falsification of the data on the Block-chain.

Originality/value

This paper represents a genuine piece of research that contributes to the field by providing new insights and understanding. The findings presented are the result of rigorous analysis and have not been previously published or submitted elsewhere for consideration.

Citation

Gholizadeh, Y. (2024), "Implementation of block-chain technology in the European Union energy payments and logistic", International Journal of Energy Sector Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJESM-03-2024-0001