The Energy Sector Needs to Stop Seeing Blockchain as a Disruption

Published onMay 9, 2019

Across both sides of the blockchain aisle—both industries contemplating the technology’s implications and evangelists advocating its adoption—people often describe blockchain as the next big disruptor. Skeptics tend to see such claims of blockchain-based disruption as overblown, while the pro-blockchain community tends to see it ushering in nothing short of a decentralized revolution. But they all use that word: disruptor…I’m here to say: enough! It’s time to stop calling blockchain a disruption. Not only is the energy sector becoming numb to such headlines but, as I’ll argue in this piece, pointing a finger at blockchain as the disruptor misses a more important point. The energy sector is already facing multiple mega disruptions—and blockchain isn’t one of them… the global energy sector is already facing multiple, concurrent disruptions that are fundamentally transforming electricity markets around the world. These disruptions really gained a foothold in recent years, and their intensity has only strengthened. Let’s consider just four of them: digitalization, decarbonization, decentralization, and electric mobility.