Implementing Distributed Ledger Technology for Advanced Supply Chain Optimization in the Renewable Energy Sector: A Comprehensive Examination

Teo Rong Xuan *

School of Economics and Management, Tsinghua University, Beijing 100084, China.

*Author to whom correspondence should be addressed.


Blockchain, also known as a distributed ledger, is a novel technological advancement that is currently gaining prominence in several sectors and industries worldwide. Various interest groups, including energy businesses, small and medium-sized enterprises (SMEs), start-ups, information technology developers, financial institutions, national authorities, and the academic community, have shown interest in this matter. The enhancement of daily corporate operations is projected to be achieved by several means, such as the decentralization of authority in transactions, installation of the Internet of Things (IoT), and utilization of smart contracts. Digitalization is already prevalent in several solutions within the energy sector, including smart grids, smart meters, and electric vehicles. Furthermore, the academic literature has developed a novel idea known as the Internet of Energy (IoE). This article examines the degree of trust and maturity associated with the use of Blockchain technology. The authors have developed the Blockchain Maturity Questionnaire to assess these factors. The database comprises replies obtained from experts in high management positions within the renewable energy sector. The report provides an overview of the current understanding of Blockchain technology, highlighting its primary advantages and challenges in implementation. Additionally, it examines the extent to which firms are inclined to use this technology into their future operations. The valuable input from industry professionals facilitated the development of a comprehensive plan, referred to as the "Roadmap for Blockchain Adoption," which outlines the integration of blockchain technology into forthcoming energy systems.

Keywords: Block chain, renewable energy, ledger technology

How to Cite

Xuan , Teo Rong. 2023. “Implementing Distributed Ledger Technology for Advanced Supply Chain Optimization in the Renewable Energy Sector: A Comprehensive Examination”. Journal of Energy Research and Reviews 15 (3):58-75.


Download data is not yet available.


Charalampidis P, Fragkiadakis A. When distributed ledger technology meets internet of things--benefits and challenges; 2020. Available:

Li J, Kassem M. A roadmap to achieving readiness for macro adoption of distributed ledger technology (DLT) in theconstruction industry. Creative construction conference 2019. Budapest University of Technology and Economics. 2019;2–7.

Lu J, Zheng X, Hu Z, Zhang H, Kiritsis D. Towards a decentralized digital engineering assets marketplace: Empowered by model-based systems engineering and distributed ledger technology; 2020 Available:

Agbo B, Qin Y, Hill R. Research directions on big IoT data processing using distributed ledger technology: a position paper, in IoTBDS. Science and Technology Publications; 2019.

Anthony B. Exploring data driven initiatives for smart city development: Empirical evidence from techno-stakeholders’ perspective. Urban Res Pract; 2021.

Anthony B, Integrating electric vehicles to achieve sustainable energy as a service business model in smart cities. Front Sustain Cities. 2021;3.

Anthony B. Distributed ledger and decentralised technology adoption for smart digital transition in collaborative enterprise. Enterp Info Syst; 2021.

Anthony B. Managing digital transformation of smart cities through enterprise architecture–A review and research agenda. Enterp Info Syst. 2021;15.

Anthony B. Toward a collaborative governance model for distributed ledger technology adoption in organizations. Environ Syst Decis, 2022;42.

Anthony B. Investigating the decentralized governance of distributed ledger infrastructure implementation in extended enterprises. J Knowl Econ; 2022.

Anthony B, S. Abbas Petersen. Examining the digitalisation of virtual enterprises amidst the COVID-19 pandemic: A systematic and meta-analysis. Enterp Info Syst. 2021;15.

Anthony B, Majid MA, Romli A. A collaborative agent based green IS practice assessment tool for environmental sustainability attainment in enterprise data centers. J Enterp Inf Manag. 2018;31.

Anthony B, et al. Big data driven multi-tier architecture for electric mobility as a service in smart cities: a design science approach. Int J Energy Sect Manage. 2020;14.

Anthony B, et al. Big data-oriented energy prosumption service in smart community districts: A multi-case study perspective. Energy Info. 2019;2.

Anthony B, et al. Modeling pervasive platforms and digital services for smart urban transformation using an enterprise architecture framework. Inf Technol People. 2021;34.

Arslan SS, et al. Advancements in distributed ledger technology for Internet of Things. Internet Things. 2020;9.

Atlam HF, GB. Wills, Intersections between IoT and distributed ledger, in Advances in Computers. Elsevier; 2019.

Babich V, Hilary G. Blockchain and other distributed ledger technologies in operations. SSRN; 2018.

Bertone F, et al. A classification of distributed ledger technology usages in the context of transactive energy control operations, in Conference on complex, intelligent, and software intensive systems. Springer: Cham; 2019.

Bokolo AJ. Exploring interoperability of distributed ledger and decentralized technology adoption in virtual enterprises. Info Syst e-Bus Manag; 2022.

Cantelmi R, Gravio G, Patriarca R. Reviewing qualitative research approaches in the context of critical infrastructure resilience. Environ Syst Decis. 2021;41.

Casado-Vara R, Corchado J. Distributed e-health wide-world accounting ledger via blockchain. J Intell Fuzzy Syst. 2019;36.

Casino F, Dasaklis TK, Patsakis C. A systematic literature review of blockchain-based applications: current status, classification and open issues. Telemat Info. 2019;36.

Castro M, Liskov B. Authenticated byzantine fault tolerance without public-key cryptography. MIT Laboratory for Computer Science; 1999.

Cullen A, et al. On the resilience of dag-based distributed ledgers in iot applications. IEEE Internet Things J. 2020;7.

Danzi P, et al. Communication aspects of the integration of wireless iot devices with distributed ledger technology. IEEE Netw. 2020;34.

Dewan S, Singh L. Use of blockchain in designing smart city. Smart Sustain Built Environ. 2020;9.

Ferraro P, King C, Shorten R. Distributed ledger technology for smart cities, the sharing economy, and social compliance. IEEE Access; 2018;6.

Giraldo J. X-border platforms: the implications of distributed ledger technology, in Twenty-sixth European conference on information systems (ECIS2018), AIS; 2018

Gräbe F, et al. Do not be fooled: toward a holistic comparison of distributed ledger technology designs, in Proceeding of the 53rd Hawaii International Conference on System Sciences. SSRN; 2020.

Herrera HB, Kopainsky. Using system dynamics to support a participatory assessment of resilience. Environ Syst Decis. 2020;40.

Hofman WJ. Supply chain visibility ledger, in Blockchain and distributed ledger technology use cases. Springer: Cham; 2020.

Howell BE, Potgieter PH, Sadowski BM. Governance of blockchain and distributed ledger technology projects. SSRN; 2019.

Hrga A, Capuder T, Žarko P. Demystifying distributed ledger technologies: Limits, challenges, and potentials in the energy sector. IEEE Access. 2020;8.

Hussien HM, et al. Blockchain technology in the healthcare industry: Trends and opportunities. J Ind Inf Integr. 2021;22.

Kaczmarczyk A, Sitarska-Buba M. Enterprise architecture of the blockchain platform. J Internet e-Bus Stud. 2020; 212848.

Kannengießer N, et al. Trade-offs between distributed ledger technology characteristics. ACM Comput Surv (CSUR). 2020;53.

Kuo PH, Mourad A, Ahn J. Potential applicability of distributed ledger to wireless networking technologies. IEEE Wirel Commun. 2018;25.

Lacity MC. Addressing key challenges to making enterprise blockchain applications a reality. MIS Q Exec. 2018;17.

Lamberti R, et al. An open multimodal mobility platform based on distributed ledger technology, in Internet of things, smart spaces, and next generation networks and systems. Springer: Cham; 2019.

Liu X, Farahani B, Firouzi F. Distributed ledger technology, in Intelligent internet of things. Springer: Cham; 2020.

Maull R, et al. Distributed ledger technology: Applications and implications. Strateg Chang. 2017;26.

Nagel E, Kranz J. Smart city applications on the blockchain: Development of a multi-layer taxonomy, in Blockchain and distributed ledger technology use cases. Springer: Cham; 2020.

Straubert C, Sucky E. How Useful Is a Distributed Ledger for Tracking and Tracing in Supply Chains? A Systems Thinking Approach. Logistics. 2021;5(4): 75.

Nakamoto S, Bitcoin: A peer-to-peer electronic cash system. Decent Bus Rev. 2008;2008.

Ølnes S, Ubacht J, Janssen M. Blockchain in government: benefits and implications of distributed ledger technology for information sharing. Gov Inf Q. 2017;34.

Panda SS, et al. Distributed ledger technology for securing IoT, in 2020 11th international conference on computing, communication and networking technologies (ICCCNT). IEEE; 2020.

Perera S, et al., Blockchain technology: Is it hype or real in the construction industry? J Ind Inf Integr. 2020;17.

Priem R. Distributed ledger technology for securities clearing and settlement: Benefits, risks, and regulatory implications. Financ Innov. 2020;6.

Rahmadika S, Rhee KH. Blockchain technology for providing an architecture model of decentralized personal health information. Int J Eng Bus Manag. 2018; 10.

Rahman MS, et al. A novel architecture for tamper proof electronic health record management system using blockchain wrapper, in Proceeding of the ACM international symposium on blockchain and secure critical infrastructure. ACM; 2019.

Ribitzky R, et al. Pragmatic, interdisciplinary perspectives on blockchain and distributed ledger technology: paving the future for healthcare. Blockchain Healthc Today. 2018; 1.

Roeck D, et al. Analyzing the potential of DLT-based applications in smart factories, in Blockchain and distributed ledger technology use cases. Springer; 2020.

Rückeshäuser N. Typology of distributed ledger based business models, in Proceeding of the 25th European conference on information systems (ECIS). AIS: Portugal; 2017.

Shahid F, Khan A, Jeon G. Post-quantum distributed ledger for internet of things. Comput Electr Eng. 2020;83.

Strugar D, et al. An architecture for distributed ledger-based M2M auditing for electric autonomous vehicles, in Workshops of the international conference on advanced information networking and applications. Springer: Cham; 2019.

Sunyaev A. Distributed ledger technology, in Internet computing. Springer: Cham; 2020.

Adel HM, Younis RAA. Interplay among blockchain technology adoption strategy, e-supply chain management diffusion, entrepreneurial orientation and human resources information system in banking. International Journal of Emerging Markets; 2021..

Agi MAN, Jha AK. Blockchain technology in the supply chain: An integrated theoretical perspective of organizational adoption. International Journal of Production Economics. 2022;247.

Agrawal TK, et al. Blockchain-based framework for supply chain traceability: A case example of textile and clothing industry. Computers and Industrial Engineering. 2021;154.

Ahmad RW, et al. Blockchain in oil and gas industry: Applications, challenges, and future trends. Technology in Society. 2022;68.

Albizri A, Appelbaum D. Trust but verify: The oracle paradox of blockchain smart contracts. Journal of Information Systems. 2021;35.

Ali MH, et al. A sustainable blockchain framework for the halal food supply chain: Lessons from Malaysia. Technological Forecasting and Social Change; 2021.

Anastasiadis F, et al. The role of traceability in end-to-end circular agri-food supply chains. Industrial Marketing Management. 2022;104.

Juszczyk O, Shahzad K. Blockchain Technology for Renewable Energy: Principles, Applications and Prospects. Energies. 2022;15(13):4603.

Asante M, et al. Distributed ledger technologies in supply chain security management: A comprehensive survey. IEEE Transactions on Engineering Management; 2021.

Azzi R, Chamoun RK, Sokhn M. The power of a blockchain-based supply chain. Computers and Industrial Engineering. 2019:135.

Babich V, Hilary G. Distributed ledgers and operations: What operations management researchers should know about blockchain technology. Manufacturing and Service Operations Management. 2020;22.

Babu ES, et al. Secure and transparent pharmaceutical supply chain using permissioned blockchain network. International Journal of Logistics Research and Applications; 2022.

Bag S. et al. Barriers to adoption of blockchain technology in green supply chain management. Journal of Global Operations and Strategic Sourcing. 2021;14.

Baharmand H, Maghsoudi A, Coppi G. Exploring the application of blockchain to humanitarian supply chains: Insights from Humanitarian supply blockchain pilot project. International Journal of Operations and Production Management. 2021;41.

Bai C, Quayson M, Sarkis J. Analysis of Blockchain’s enablers for improving sustainable supply chain transparency in Africa cocoa industry. Journal of Cleaner Production. 2022;358.

Bai, C. and J. Sarkis, A supply chain transparency and sustainability technology appraisal model for blockchain technology. International Journal of Production Research, 2020. 58.

Bai Y, et al. Blockchain-based trust management for agricultural green supply: A game theoretic approach. Journal of Cleaner Production. 2021;310.

Balci G, Surucu-Balci E. Blockchain adoption in the maritime supply chain: Examining barriers and salient stakeholders in containerized international trade. Transportation Research Part E: Logistics and Transportation Review; 2021.

Batwa A, Norrman A. A framework for exploring blockchain technology in supply chain management. Operations and Supply Chain Management. 2020;13.

Bechtsis D, et al. Data-driven secure, resilient and sustainable supply chains: Gaps, opportunities, and a new generalised data sharing and data monetisation framework. International Journal of Production Research; 2021.

Behnke K, Janssen MFWHA. Boundary conditions for traceability in food supply chains using blockchain technology. International Journal of Information Management. 2020;52.

Benstead AV, Moradlou H. Entering the world behind the clothes that we wear: Practical applications of blockchain technology Enter. Production Planning and Control. 2022;2020.

Benzidia S, Makaoui N, Subramanian N. Impact of ambidexterity of blockchain technology and social factors on new product development: A supply chain and Industry 4.0 perspective. Technological Forecasting and Social Change. 2021;169.

Boissieu E, et al.,The use of blockchain in the luxury industry: Supply chains and the traceability of goods. Journal of Enterprise Information Management. 2021;34.

Brookbanks M, Parry G. The impact of a blockchain platform on trust in established relationships: A case study of wine supply chains. Supply Chain Management. 2022;27.

Bumblauskas D, et al. A blockchain use case in food distribution: Do you know where your food has been? International Journal of Information Management. 2020;52.

Büyüközkan G. Tüfekçi G, Uztürk D. Evaluating blockchain requirements for effective digital supply chain management. International Journal of Production Economics; 2021.

Caldarelli G, Zardini A, Rossignoli C. Blockchain adoption in the fashion sustainable supply chain: Pragmatically addressing barriers. Journal of Organizational Change Management. 2021;34.

Cao M, Zhang Q. Supply chain collaboration: Impact on collaborative advantage and firm performance. Journal of Operations Management. 2011;29.

Casino F, et al. Blockchain-based food supply chain traceability: A case study in the dairy sector. International Journal of Production Research; 2021.

Chang J, et al. Blockchain-empowered newsvendor optimization. International Journal of Production Economics. 2021;238.

Chang SE, Chen YC, Lu MF. Supply chain re-engineering using blockchain technology: A case of smart contract based tracking process. Technological Forecasting and Social Change. 2019;144.

Chang Y, Iakovou E, Shi W. Blockchain in global supply chains and cross border trade: A critical synthesis of the state-of-the-art, challenges and opportunities. International Journal of Production Research. 2020;58.

Chaudhuri A, et al. Improving social sustainability and reducing supply chain risks through blockchain implementation: Role of outcome and behavioural mechanisms. Annals of Operations Research; 2021.

Chod J, et al. On the financing benefits of supply chain transparency and blockchain adoption. Management Science. 2020;66.

Choz TM. Blockchain-technology-supported platforms for diamond authentication and certification in luxury supply chains. Transportation Research Part E: Logistics and Transportation Review. 2019;128.

Choi, T.M., Supply chain financing using blockchain: Impacts on supply chains selling fashionable products. Annals of Operations Research, 2020.

Choi TM. Creating all-win by blockchain technology in supply chains: Impacts of agents’ risk attitudes towards cryptocurrency. Journal of the Operational Research Society. 2021;72.

Choi TM, et al. Using blockchain to improve buffer-stock-sharing and combat cheating behaviors under virtual pooling. IEEE Transactions on Engineering Management. 2021.

Choi TM, Luo S. Data quality challenges for sustainable fashion supply chain operations in emerging markets: Roles of blockchain, government sponsors and environment taxes. Transportation Research Part E: Logistics and Transportation Review. 2019;131.

Choi TM, et al. The mean–variance approach for global supply chain risk analysis with air logistics in the blockchain technology era. Transportation Research Part E: Logistics and Transportation Review. 2019;127.

Chowdhury MMH, Quaddus M, Agarwal R. Supply chain resilience for performance: Role of relational practices and network complexities. Supply Chain Management. 2019;24.

Chowdhury S, et al. Blockchain technology adoption for managing risks in operations and supply chain management: Evidence from the UK. Annals of Operations Research; 2022.

Christidis K, Devetsikiotis M. Blockchains and smart contracts for the internet of things. IEEE Access. 2016;4.

Chunsheng L, et al. Value of supply chain resilience: Roles of culture, flexibility, and integration. International Journal of Physical Distribution and Logistics Management. 2020;50.

Çolak H, Kaǧnicioǧlu CH. Acceptance of blockchain technology in supply chains: A model proposal. Operations and Supply Chain Management. 2022;15.

Cole R, Stevenson M, Aitken J. Blockchain technology: Implications for operations and supply chain management. Supply Chain Management. 2019;24.

Cui L, et al. Investigating the relationship between digital technologies, supply chain integration and firm resilience in the context of COVID-19. Annals of Operations Research; 2022.

Danese P, Mocellin R, Romano P. Designing blockchain systems to prevent counterfeiting in wine supply chains: A multiple-case study. International Journal of Operations and Production Management. 2021;41.

Dang C, et al. Evaluating and forecasting the risks of small to medium-sized enterprises in the supply chain finance market using blockchain technology and deep learning model. Operations Management Research; 2022.

David A, Kumar CG, Paul PV. Blockchain technology in the food supply chain: Empirical analysis. International Journal of Information Systems and Supply Chain Management. 2022;15.

Dede S, Köseoglu MC, Yercan HF. Learning from early adopters of blockchain technology: A systematic review of supply chain case studies. Technology Innovation Management Review. 2021;11.

Denyer D, Tranfield D. Producing a systematic review—PsycNET. Sage Publications Ltd; 2009.

Diniz EH, et al. Greening inventories: Blockchain to improve the GHG Protocol Program in scope 2. Journal of Cleaner Production; 2021.

Dolgui A, et al. Blockchain-oriented dynamic modelling of smart contract design and execution in the supply chain. International Journal of Production Research. 2020;58.

Dong C, et al. Operations strategy for supply chain finance with asset-backed securitization: Centralization and blockchain adoption. International Journal of Production Economics. 2021;241.

Du M, et al. Supply chain finance innovation using blockchain. IEEE Transactions on Engineering Management. 2020;67.

Dubey R, et al. Blockchain technology for enhancing swift-trust, collaboration and resilience within a humanitarian supply chain setting. International Journal of Production Research. 2020;58.

Dubey R, et al. Incorporating blockchain technology in information systems research. International Journal of Information Management; 2022.

Dutta P, et al., Blockchain technology in supply chain operations: Applications, challenges and research opportunities. Transportation Research Part E: Logistics and Transportation Review. 2020;142.

Epiphaniou, G., et al., Electronic regulation of data sharing and processing using smart ledger technologies for supply-chain security. IEEE Transactions on Engineering Management, 2020. 67.

Erol I, et al. Assessing the feasibility of blockchain technology in industries: Evidence from Turkey. Journal of Enterprise Information Management. 2021;34.

Erol I, et al. Alleviating the impact of the barriers to circular economy adoption through blockchain: An investigation using an integrated MCDM-based QFD with hesitant fuzzy linguistic term sets. Computers and Industrial Engineering. 2022;165.

Faasolo MB, Sumarliah E. An artificial neural network examination of the intention to implement blockchain in the supply chains of SMEs in Tonga. Information Resources Management Journal. 2022;35.

Fan ZP, Wu XY, Cao BB. Considering the traceability awareness of consumers: Should the supply chain adopt the blockchain technology? Annals of Operations Research. 2022;309.

Farooque M, et al. Fuzzy DEMATEL analysis of barriers to blockchain-based life cycle assessment in China. Computers and Industrial Engineering. 2020;147.