The high-level system architecture and the operation flows.
Abstract:
Renewable Energy Certificate (REC) is a market-based instrument and tracking mechanism for electricity generated from renewable sources as they flow into the power grid. ...Show MoreMetadata
Abstract:
Renewable Energy Certificate (REC) is a market-based instrument and tracking mechanism for electricity generated from renewable sources as they flow into the power grid. The current REC issuance and tracking system is centralized, highly regulated, and operationally expensive. We proposed a blockchain-based, decentralized platform for REC issuance and trading by allowing greater traceability and transparency in transactions and reducing the operational costs of REC exchanges. The main design of the platform is to tokenize RECs and provides a decentralized, trustworthy mechanism for REC issuance, trading, verification, and retirement. The platform provides low costs, transparency, and easy to use. Representing RECs as blockchain tokens ensures that the trustworthy information is immutably recorded and available for all stakeholders to track and verify, thereby improving the reliability and security of the REC issuance and tracking systems. We present the design of the platform and detailed simulations of REC issuance and trading.
The high-level system architecture and the operation flows.
Published in: IEEE Access ( Volume: 10)
Department of Accountancy and Information Systems, University of North Dakota, Grand Forks, ND, USA
Yanjun Zuo received the Ph.D. degree in computer science from the University of Arkansas, Fayetteville, USA. His research interests include information security, blockchain, the Internet of Things, and trustworthy systems. He has published numerous papers in refereed journals and conference proceedings, including IEEE Transactions on Secure and Dependable Computing, IEEE Transactions on Systems, Man and Cybernetics, Enter...Show More
Yanjun Zuo received the Ph.D. degree in computer science from the University of Arkansas, Fayetteville, USA. His research interests include information security, blockchain, the Internet of Things, and trustworthy systems. He has published numerous papers in refereed journals and conference proceedings, including IEEE Transactions on Secure and Dependable Computing, IEEE Transactions on Systems, Man and Cybernetics, Enter...View more
Contents Department of Accountancy and Information Systems, University of North Dakota, Grand Forks, ND, USA
Yanjun Zuo received the Ph.D. degree in computer science from the University of Arkansas, Fayetteville, USA. His research interests include information security, blockchain, the Internet of Things, and trustworthy systems. He has published numerous papers in refereed journals and conference proceedings, including IEEE Transactions on Secure and Dependable Computing, IEEE Transactions on Systems, Man and Cybernetics, Enterprise Information Systems, Decision Support Systems, Journal of Information Management and Computer Security, Information Systems Frontiers, International Conference on Information Systems, and Hawaii International Conference on Systems Science.
Yanjun Zuo received the Ph.D. degree in computer science from the University of Arkansas, Fayetteville, USA. His research interests include information security, blockchain, the Internet of Things, and trustworthy systems. He has published numerous papers in refereed journals and conference proceedings, including IEEE Transactions on Secure and Dependable Computing, IEEE Transactions on Systems, Man and Cybernetics, Enterprise Information Systems, Decision Support Systems, Journal of Information Management and Computer Security, Information Systems Frontiers, International Conference on Information Systems, and Hawaii International Conference on Systems Science.View more