Knowledge Sharing Session on Integrity Perils of Blockchain and Cryptocurrencies

Advances in blockchain technology and cryptocurrencies are gaining significant attention across the development sector, but they may open new avenues for integrity risks and corruption. ADB's Sustainable Development and Climate Change Department and Office of Anticorruption and Integrity are promoting a balance between the hype and the future potential of these solutions versus the risks of corruption.

Blockchain’s Potential to Support PV Investment and Grid Integration

Does distributed ledger technology, specifically blockchain technology, have a role in helping Asia’s countries increase PV investment and grid integration? We believe that Asia is a high-potential market in which to push the limits of blockchain’s capabilities in the power sector, particularly less-developed countries where there are potential benefits of working in an unbuilt environment—a technological “white space.” Challenges notwithstanding, blockchain has shown the potential to help overcome obstacles that keep millions of people in the dark worldwide.

Blockchain’s Potential for Solar Powered EV Charging Stations

Electric Vehicles (EVs) are hailed as a silver bullet to reduce carbon emissions in smart cities. However, EV charging can destabilize the grid by spiking power demand. Evergo is a blockchain-based, plug-and-play backend system that addresses this challenge. It tracks energy trading and diversifies the energy mix for charging solutions. Evergo enables Machine-to-Machine communication between chargers, grid, and solar panels. It leverages on big data and analytics to provide smarter charging and load shifting.

Integrity Perils of Blockchain and Cryptocurrencies

Advances in blockchain technology and cryptocurrencies are gaining significant attention across the development sector, but they may open new avenues for integrity risks and corruption. SDCC and OAI are promoting a balance between the hype and the future potential of these solutions versus the risks of corruption. ADB's Chief of Digital Technology for Development, Mr. Thomas Abell, presented on significant integrity risks associated with blockchains and cryptocurrencies that are often overlooked in development programs.