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Blockchain technology: Energy efficiency and ethical compliance

Blockchain technology has the ability to disrupt almost every industry due to its ability to create a decentralized tamper-proof ledger network and carry out transactions without the need of a trusted third party intermediary. One of the major drawback of blockchain technology is the energy consumpt...

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Main Authors: Fernando, Yudi, Rubakanthan, Saravannan
Format: Article
Language:English
Published: Penerbit Universiti Malaysia Pahang 2021
Subjects:
QA Mathematics
TJ Mechanical engineering and machinery
Online Access:http://umpir.ump.edu.my/id/eprint/31887/1/Blockchain%20technology_energy%20efficiency%20and%20ethical%20compliance.pdf
http://umpir.ump.edu.my/id/eprint/31887/
https://doi.org/10.15282/jgi.4.2.2021.5872
https://doi.org/10.15282/jgi.4.2.2021.5872
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spelling my.ump.umpir.318872022-03-01T03:53:25Z http://umpir.ump.edu.my/id/eprint/31887/ Blockchain technology: Energy efficiency and ethical compliance Fernando, Yudi Rubakanthan, Saravannan QA Mathematics TJ Mechanical engineering and machinery Blockchain technology has the ability to disrupt almost every industry due to its ability to create a decentralized tamper-proof ledger network and carry out transactions without the need of a trusted third party intermediary. One of the major drawback of blockchain technology is the energy consumption surrounding its application. The problem has been discussed extensively, with proposals focusing on strengthening its consensus protocol and also integrating renewable energy sources to minimize its carbon footprint. To boost adaptability of blockchain in all sectors, the technology itself needs to look for less energy-intensive alternatives to boost its ethical and industrial compliance. As the energy sector is currently undergoing a revamp from its age-long one-way power network towards a decentralized grid system with distributed generation and storage. Adoption of blockchain technology must work hand in hand with the energy industry in order to make itself energy efficient and competitive in the long term. Penerbit Universiti Malaysia Pahang 2021-02-27 Article PeerReviewed pdf en cc_by_4 http://umpir.ump.edu.my/id/eprint/31887/1/Blockchain%20technology_energy%20efficiency%20and%20ethical%20compliance.pdf Fernando, Yudi and Rubakanthan, Saravannan (2021) Blockchain technology: Energy efficiency and ethical compliance. Journal of Governance & Integrity, 4 (2). pp. 88-95. ISSN 2600-7479 https://doi.org/10.15282/jgi.4.2.2021.5872 https://doi.org/10.15282/jgi.4.2.2021.5872
institution Universiti Malaysia Pahang
building UMP Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Pahang
content_source UMP Institutional Repository
url_provider http://umpir.ump.edu.my/
language English
topic QA Mathematics
TJ Mechanical engineering and machinery
spellingShingle QA Mathematics
TJ Mechanical engineering and machinery
Fernando, Yudi
Rubakanthan, Saravannan
Blockchain technology: Energy efficiency and ethical compliance
description Blockchain technology has the ability to disrupt almost every industry due to its ability to create a decentralized tamper-proof ledger network and carry out transactions without the need of a trusted third party intermediary. One of the major drawback of blockchain technology is the energy consumption surrounding its application. The problem has been discussed extensively, with proposals focusing on strengthening its consensus protocol and also integrating renewable energy sources to minimize its carbon footprint. To boost adaptability of blockchain in all sectors, the technology itself needs to look for less energy-intensive alternatives to boost its ethical and industrial compliance. As the energy sector is currently undergoing a revamp from its age-long one-way power network towards a decentralized grid system with distributed generation and storage. Adoption of blockchain technology must work hand in hand with the energy industry in order to make itself energy efficient and competitive in the long term.
format Article
author Fernando, Yudi
Rubakanthan, Saravannan
author_facet Fernando, Yudi
Rubakanthan, Saravannan
author_sort Fernando, Yudi
title Blockchain technology: Energy efficiency and ethical compliance
title_short Blockchain technology: Energy efficiency and ethical compliance
title_full Blockchain technology: Energy efficiency and ethical compliance
title_fullStr Blockchain technology: Energy efficiency and ethical compliance
title_full_unstemmed Blockchain technology: Energy efficiency and ethical compliance
title_sort blockchain technology: energy efficiency and ethical compliance
publisher Penerbit Universiti Malaysia Pahang
publishDate 2021
url http://umpir.ump.edu.my/id/eprint/31887/1/Blockchain%20technology_energy%20efficiency%20and%20ethical%20compliance.pdf
http://umpir.ump.edu.my/id/eprint/31887/
https://doi.org/10.15282/jgi.4.2.2021.5872
https://doi.org/10.15282/jgi.4.2.2021.5872
_version_ 1726791650537111552
score 13.211869

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