Blockchain: What Does It Mean to Industrial Electronics?: Technologies, Challenges, and Opportunities

Xinghuo Yu; Changbing Tang; Peter Palensky; Armando Colombo

doi:10.1109/MIE.2021.3066332

Blockchain: What Does It Mean to Industrial Electronics?: Technologies, Challenges, and Opportunities

Xinghuo Yu, Changbing Tang, Peter Palensky, Armando Colombo

Intelligent Electrical Power Grids

Research output: Contribution to journal › Article › Scientific › peer-review

6 Citations (Scopus)

43 Downloads (Pure)

Abstract

Imagine you want to send money to a friend overseas. Wouldn't it be good if you didn't have to pay hefty fees to the intermediaries, and your friend received the funds very quickly? Now imagine ordering parts to make a product in your manufacturing plant. Wouldn't it be great if you were able to verify where each part comes from and have access to a reliable certificate on its quality automatically? Also think about dealing with energy use or selling off your excess solar energy as a prosumer. Wouldn't it be nice if you could purchase cheaper energy or sell it profitably at ease?

Original language	English
Pages (from-to)	4-14
Number of pages	11
Journal	IEEE Industrial Electronics Magazine
Volume	16
Issue number	2
DOIs	https://doi.org/10.1109/MIE.2021.3066332
Publication status	Published - 2022

Bibliographical note

Green Open Access added to TU Delft Institutional Repository ‘You share, we take care!’ – Taverne project https://www.openaccess.nl/en/you-share-we-take-care
Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.

Keywords

Blockchain
Consensus algorithm
Distributed ledger
Peer-to-peer computing
Scalability
Security
Smart contracts

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10.1109/MIE.2021.3066332

Blockchain_What_Does_It_Mean_to_Industrial_Electronics_Technologies_Challenges_and_OpportunitiesFinal published version, 1.24 MB

Cite this

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AB - Imagine you want to send money to a friend overseas. Wouldn't it be good if you didn't have to pay hefty fees to the intermediaries, and your friend received the funds very quickly? Now imagine ordering parts to make a product in your manufacturing plant. Wouldn't it be great if you were able to verify where each part comes from and have access to a reliable certificate on its quality automatically? Also think about dealing with energy use or selling off your excess solar energy as a prosumer. Wouldn't it be nice if you could purchase cheaper energy or sell it profitably at ease?

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Blockchain: What Does It Mean to Industrial Electronics?: Technologies, Challenges, and Opportunities

Abstract

Bibliographical note

Keywords

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