Smart Grid and Innovative Frontiers in Telecommunications. Third International Conference, SmartGIFT 2018, Auckland, New Zealand, April 23-24, 2018, Proceedings

Research Article

The Blockchain Marketplace as the Fifth Type of Electricity Market

  • @INPROCEEDINGS{10.1007/978-3-319-94965-9_28,
        author={Yueqiang Xu and Petri Ahokangas and Seppo Yrj\o{}l\aa{} and Timo Koivum\aa{}ki},
        title={The Blockchain Marketplace as the Fifth Type of Electricity Market},
        proceedings={Smart Grid and Innovative Frontiers in Telecommunications. Third International Conference, SmartGIFT 2018, Auckland, New Zealand, April 23-24, 2018, Proceedings},
        proceedings_a={SMARTGIFT},
        year={2018},
        month={7},
        keywords={Electricity market Blockchain Business model Smart grid},
        doi={10.1007/978-3-319-94965-9_28}
    }
    
  • Yueqiang Xu
    Petri Ahokangas
    Seppo Yrjölä
    Timo Koivumäki
    Year: 2018
    The Blockchain Marketplace as the Fifth Type of Electricity Market
    SMARTGIFT
    Springer
    DOI: 10.1007/978-3-319-94965-9_28
Yueqiang Xu1,*, Petri Ahokangas1,*, Seppo Yrjölä2,*, Timo Koivumäki1,*
  • 1: University of Oulu
  • 2: Nokia
*Contact email: yueqiang.xu@oulu.fi, petri.ahokangas@oulu.fi, seppo.yrjola@nokia.com, timo.koivumaki@oulu.fi

Abstract

This paper tackles today’s unprecedented challenges of enabling and stimulating multiple energy stakeholders to have a more active participation in the smart grid electricity market. The research extends the existing four archetypes of orchestrator-driven business models for the electricity market and proposes a fifth type of electricity market, the Blockchain Marketplace. The key novelty of the paper is to expand the electricity market architecture and design from centralization and pseudo-decentralization to full decentralization, enabled by the blockchain. The study not only broadens the smart grid and electricity market literature but also contributes to the theoretical development of the business model and organization study domains with a systemic approach.