Energy sector

In the last five years or so, so-called “disruptive” technologies—such as distributed renewable energy, smart grids, energy storage, and fuel cells——have clearly impacted the energy world. While energy professionals are still adjusting to the new reality, let’s take a look at blockchain, an emerging yet potentially even more disruptive technology discussed during a seminar on advanced clean technology solutions for development at ADB’s recent Annual Meeting in Yokohama, Japan. Blockchain is a game-changer, according to Don Tapscott, a TED Talk speaker and one of the world’s leading thinkers on the economic and social impact of technology. “The technology likely to have the greatest impact on the next few decades has arrived. It’s not social media. It’s not Big Data. It’s not robotics. It’s not even artificial intelligence. It’s called blockchain.” said Tapscott. So, what does the somewhat obscure term “blockchain” mean exactly?... —