Work

Blockchain Technology in Carbon Trading Markets: Impacts, Benefits, and Challenges—A Case Study of the Shanghai Environment and Energy Exchange

Year: 2024

Type: article

Abstract: This study employs the Shanghai Environment and Energy Exchange as a case study to investigate the effects of blockchain technology applications on transaction prices within the carbon trading market. Utilizing an event study methodology, the research demonstrates that blockchain technology significantly enhances the transparency, security, and efficiency of the carbon market, thereby exerting a positive influence on transaction prices. Nonetheless, the study also identifies several challenges associated with blockchain applications, including increased costs, heightened energy consumption, transaction delays, and substantial learning costs. To mitigate these issues, the study proposes optimizing blockchain architecture, incorporating Layer 2 technologies to expedite transaction processes, and developing innovative regulatory frameworks.

Source: Energies

DOI: 10.3390/en17133296

Authors: Guocong Zhang, Sonia Chien-I Chen, Xiucheng Yue

Institution: Qingdao University

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDGs: Climate action, Affordable and clean energy, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $2,955