A Decomposition Analysis of the Energy System Patent with Blockchain Technology

Abstract

The energy blockchain is a platform based on blockchain technology, creating a secure, transparent, and decentralized system for peer-to-peer transactions and automated smart contracts. This platform has the ability to facilitate the exchange and management of energy resources, such as electricity or renewable energy certificates. Our research aims to clarify the growth trends of energy systems with blockchain technology throughout the world. The novelty of this study is to understand the main factor in energy blockchain patent granting using a patent decomposition analysis and log mean Divisia index analysis and discover the relative importance in the R&D shift from electricity to other technology. Additionally, the IPC for energy blockchain technology primarily focuses on configuring and managing energy systems, including electricity, gas, and water supply. We also present a comprehensive overview of how countries and companies engage with energy blockchain technology and find China leads with 59% of patents, followed by the U.S. with 20%, but their specific tech shares differ. Participants span beyond traditional energy sectors, including electric and electronic machinery, IT firms, transport manufacturers, startups, and universities dedicated to blockchain technology.