The master’s thesis with the greatest innovation potential in 2020 has been chosen!

This year’s finalists included 9 master’s theses that received the highest grade, i.e. a 10. A three-member committee (Assistant Professor Dr Marina Letonja, Assistant Professor Dr Tomaž Klobučar, and Assistant Professor Dr Branko Škafar) chose the thesis with the greatest innovation potential.

The award for the master’s thesis with the greatest innovation potential in 2020 was conferred on Danilo Kovačič, graduate of the master’s programme in International Business Management, for this thesis titled USING BLOCKCHAIN TECHNOLOGIES IN DECENTRALISED ENERGY SUPPLY FROM RENEWABLE SOURCES – SLOVENIA CASE STUDY, which he prepared under the guidance of thesis supervisor Assistant Professor Dr Tomislav Rozman.

The master’s thesis titled Using Blockchain Technologies in Decentralised Energy Supply from Renewable Sources – Slovenia Case Study is an interesting thesis from the field of using the latest information and communication technologies and new business models in the energy sector.

Blockchain technology presents an opportunity for overcoming the challenges of integrating dispersed renewable energy sources into the electricity system. The thesis thoroughly discusses the different possibilities of using this technology in the energy sector, takes stock of best practices abroad, and presents the views of Slovenian stakeholders on this technology.

The thesis as a whole represents an important contribution to the understanding of the field. The results of the thesis will be useful for all those looking for ways to improve existing energy processes, especially in the fields of network management, e-mobility, automation, optimisation, and metering. The findings of the thesis can be used as a basis for further research of the topic in order to better understand the social, technological, and economic implications of the introduction of blockchain technology in energy systems.

Danilo Kovačič said the following on his thesis:

“I understand a master thesis as a milestone of maturity and milestones are not easily achieved. As JFK said: “...  not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills”. 

The way I understand global trends, the main challenges of civilisation are global warming and the reduction GHG emissions. This goal is very concrete and binding on Slovenia in the context of EU regulations. We aim for a zero-emission society by 2050. In order to achieve this goal, each of us must contribute our share.

At the time, I was in the process of deciding to purchase a solar power plant, which would be my share, and I was aware of and followed the challenges faced by transmission and distribution system operators as a result of the integration of dispersed renewable energy sources. I came across an article on blockchain, which, unlike most publications on this topic, did not deal with crypto currencies but with something that they referred to as ‘smart contracts’.  This was my Eureka moment and the decision on the topic of my master’s thesis.

Assistant Professor Dr Tomislav Rozman also played a role in my decision, as my experience with him during my studies was excellent: his style of teaching is to promote students’ curiosity and to steer the inquisitive mind in the right direction. I later chose him as my thesis supervisor and the result was awarded the title of the Best Master’s Thesis with the Greatest Innovation Potential in 2020! There is not much to add to that.

The objective of the thesis was to put the opportunities offered by new technologies in the context of global megatrend challenges, to outline possible solutions, and to present the views of electricity system stakeholders on the integration of blockchain in the energy sector.

The findings of the thesis can be used as a basis for further research of the topic from the same or different viewpoint in order to better understand the social, technological, and economic implications of the introduction of blockchain technology in energy systems. In that regard, the target audience is not so much the expert technical public from the field of the energy sector, as the research does not focus strictly on technical aspects of blockchains, but rather the general interested public, who is aware of the existence of blockchain technologies, but does not see possible applications beyond crypto currencies.

As the electricity sector is not my area of expertise, and blockchain and smart contracts are a very young and rapidly evolving field, the thesis has been very challenging to prepare, both in terms of time, expertise, and emotional input. Extensive studying of references and resources, learning about the technical aspects of how electricity systems operate, searching for best practices from abroad and analysing their transferability to Slovenia, and identifying stakeholders and surveying them were steps that slowly took me to the finish line. In the end, I was exhausted but satisfied with the result.

The fact that DOBA Business School recognised and awarded my choice of the harder path to follow and recognised the innovation potential of the master's thesis fills me with great satisfaction and contentment.”

Congratulations for preparing the master’s thesis with the greatest innovation potential. We hope you successfully realise the innovation potential and wish you all the best in your continuation of studies in the doctoral programme.

More information: LinkedIn Danilo Kovačič