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Empowering energy: Legal and regulatory perspectives on blockchain-enabled trading in Malaysia and Australia
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Empowering energy: Legal and regulatory perspectives on blockchain-enabled trading in Malaysia and Australia
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Journal Article
Empowering energy: Legal and regulatory perspectives on blockchain-enabled trading in Malaysia and Australia
2024
Overview
Leveraging blockchain technology in the energy sector holds immense potential, particularly in facilitating decentralised energy systems. However, the legal and regulatory landscapes of several countries, including Malaysia and Australia, pose significant obstacles to its effective implementation. This article examines the specific legal and regulatory hurdles hindering the incorporation of P2P energy trading systems in these two jurisdictions: Malaysia and Australia. Through a comparative analysis, the authors aim to provide valuable insights for policymakers and regulators seeking to develop comprehensive frameworks that encourage blockchain adoption in the energy sector. The article highlights the need to address the under-inclusiveness of laws, legal uncertainty around novel blockchain-based concepts like smart contracts, and the obsolescence of legal frameworks designed for traditional centralised energy systems. By examining Malaysia's and Australia's unique challenges, the article seeks to contribute to a broader understanding of the complexities of adapting legal and regulatory frameworks to accommodate this transformative technology.
Publisher
Cambridge University Press
