Energy market: A review of current solutions, trends, issues, and future directions based on the blockchain, internet of things and artificial intelligence
Florentina Magda Enescu, Sebastian–Alexandru Drăguşin, Robert Boştinaru, Marius-Constantin Marica, Cosmin-George Nicolăescu, Nicolae-Cǎtǎlin Frîncu, Nicu Bizon
Abstract
The paper examines the evolution of the global energy market through blockchain, Internet of Things (IoT) and Artificial Intelligence (AI) technologies. Analysis of current trends reveals significant benefits of blockchain technology in energy transactions, highlighting transparency and operational efficiency. It also emphasizes the crucial role of IoT devices in developing the infrastructure and capacity of artificial intelligence to forecast and adjust energy demand more accurately. Looking into perspective, the paper addresses emerging trends and impacts on sustainability considering climate change concerns. Despite notable progress, challenges are also recognized, and the study identifies opportunities for innovation. With a comprehensive look at the transformations in the energy market, this paper suggests that emerging technologies are paving the way for a smarter and sustainable energy future. The paper makes an important contribution by integrating Blockchain, IoT, and AI into a common framework, complemented by bibliometric analysis, statistical forecasts and case studies, providing a current and relevant perspective on the transformation of the global energy market.