A Three-Dimensional Analytical Framework: Textual Analysis and Comparison of Chinese and US Energy Blockchain Policies

Abstract

With the development of blockchain technology in various fields, attempts have been made by the US and China to apply it to the energy industry. This study constructed a three-dimensional policy analysis framework of “policy instrument–innovation value chain–policy level” and added the industry field research perspective. It summarises the energy blockchain policies of China and the US from 2016 to 2022 and compares the differences between the two countries. This study shows that both countries pay attention to the application of environmental-based policy tools and that there is an imbalance between the internal structure of supply- and demand-based policy tools. The energy blockchain policies are more focused on application. China and the US lack policy support in basic research and exploitation, respectively. The US energy blockchain policy distribution at the policy level is relatively uniform, while China’s energy blockchain policy has an inverted pyramid structure, with many policies at the strategic level. From the perspective of industry, the energy blockchain policies of China and the US mainly involve the new-generation information technology industry and the new energy industry. The US should reform its energy policy structure and give full play to various policy tools, while China should strengthen basic research to lay the foundation for the practice of the energy blockchain.