TY - GEN
T1 - Establishing Security Controls For Blockchain Technology In P2P Energy Trading
AU - Alahbabi, Anera
AU - Alshehhi, Khadija
AU - Albloushi, Athari
AU - Shuaib, Khaled
N1 - Funding Information:
Acknowledgment: This research was funded by the UAE University summer undergraduate student research grant number 3826.
Publisher Copyright:
© 2023 IEEE.
PY - 2023
Y1 - 2023
N2 - Blockchain technology creates a distributed ledger of transactions through interconnected blocks which are decentralized, transparent, immutable, and automated. The use of blockchain solutions and applications is growing rapidly which include finance, supply chain management, digital identity, energy, healthcare, and real estate. Due to the rapid economic recovery, global weather variations, maintenance delays caused by the pandemic, and earlier decisions by oil and gas companies to cut investments, energy costs have increased since 2021. Through limiting consumer prices and compensating energy providers for the shortfall, governments are aiming to lessen the impact of increase energy prices on citizens and businesses. The utilization of energy using Blockchain technology, where peer-topeer (P2P) energy trading on local and global energy markets could be enabled, can be an enabler to resolve energy shortage and increasing prices. Currently, National Information Security Standards and International Information Security Standards lack a framework to manage and govern information security controls for P2P energy trading using Blockchain technology. This paper proposes information security controls to complement existing Standards that will enable proper governance of P2P energy trading and discusses associated risks.
AB - Blockchain technology creates a distributed ledger of transactions through interconnected blocks which are decentralized, transparent, immutable, and automated. The use of blockchain solutions and applications is growing rapidly which include finance, supply chain management, digital identity, energy, healthcare, and real estate. Due to the rapid economic recovery, global weather variations, maintenance delays caused by the pandemic, and earlier decisions by oil and gas companies to cut investments, energy costs have increased since 2021. Through limiting consumer prices and compensating energy providers for the shortfall, governments are aiming to lessen the impact of increase energy prices on citizens and businesses. The utilization of energy using Blockchain technology, where peer-topeer (P2P) energy trading on local and global energy markets could be enabled, can be an enabler to resolve energy shortage and increasing prices. Currently, National Information Security Standards and International Information Security Standards lack a framework to manage and govern information security controls for P2P energy trading using Blockchain technology. This paper proposes information security controls to complement existing Standards that will enable proper governance of P2P energy trading and discusses associated risks.
KW - Blockchain
KW - DLT
KW - Energy
KW - Security Control
KW - Standards
KW - Trading
KW - peer-to-peer
UR - http://www.scopus.com/inward/record.url?scp=85152770184&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85152770184&partnerID=8YFLogxK
U2 - 10.1109/ISGTMiddleEast56437.2023.10078508
DO - 10.1109/ISGTMiddleEast56437.2023.10078508
M3 - Conference contribution
AN - SCOPUS:85152770184
T3 - 2023 IEEE PES Conference on Innovative Smart Grid Technologies - Middle East, ISGT Middle East 2023 - Proceedings
BT - 2023 IEEE PES Conference on Innovative Smart Grid Technologies - Middle East, ISGT Middle East 2023 - Proceedings
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2023 IEEE PES Conference on Innovative Smart Grid Technologies - Middle East, ISGT Middle East 2023
Y2 - 12 March 2023 through 15 March 2023
ER -