Due to the decentralised and immutable nature of distributed ledger systems, blockchain has become a critical priority for organisations across the world. The global blockchain market is expected to grow from $1.57 billion in 2018 to $162.84 billion by 2027.
From an ecological perspective, blockchain has raised environmental concerns due to increasing computational power that is required to operate energy-intensive consensus mechanisms. However, it also has the potential to help promote renewable energy through a variety of blockchain-based use cases such as decentralised energy trading, cryptocurrencies and green tokens, grid management, green certificates and carbon emissions trading, as well as peer-to-peer transactions to democratise the electric vehicle charging infrastructure.
In this project, we will scrutinise this dilemma of ecological tradeoff and analyse implications of blockchain adoption on energy demand and environmental consequences through decision modelling.
This project involves:
- designing and developing decision modelling in blockchain
- communicating the findings in academic and/or professional publications.
The expected outcomes are dependent on the scope of the research and may include the following:
- systematic literature review analysis
- conceptual design and prototype development of a decision model
- decision model and notation (DMN) simulation to evaluate case examples.
Skills and experience
This research requires one or more of the following skills:
- decision modelling
- renewable energy technologies.
You may be eligible to apply for a research scholarship.
Contact the supervisor for more information.