Bitcoin has failed to live up to the hype that it would democratize finance by enabling cheap, instantaneous, and secure payments that could be conducted without having to rely on stodgy old financial institutions like banks and credit card companies. And the Bitcoin network’s spiraling energy needs are truly staggering when compared to other potential uses.
CGD Policy Blogs
Most people accept that we will only achieve sustainable energy patterns with a substantial investment in research and development, but where the research will take place and where energy will be consumed doesn’t necessarily match up. Within 25 years, non-OECD countries will account for two-thirds of global energy consumption. To that end, the climate and energy challenge is primarily about finding ways to bring clean energy to Rio and Lagos, not to San Francisco or Berlin.
Yesterday the UK government formally launched its much-awaited Energy Africa campaign, which aims to accelerate electricity access for rural Africans. In a surprise move, DfID’s new plans include only support for small-scale solar power solutions. Typically these systems provide just enough power for a LED light bulb or two and a cellphone charger (see here and here for a few DfID favorites).
DFID’s “Energy Africa” Campaign Launch: Three Fast Facts, One Bad Idea, and at Least One Way Forward
On Monday, Grant Shapps, the UK's Minister of State at the Department for International Development, kicked off DFID’s Energy Africa campaign at an event hosted by the Shell Foundation designed to help his team figure out how the UK government can invest its political clout and an initial £30 million ($46 million) to tackle rural energy poverty in Africa. Given solar’s limitations and these risks, how can we make sure that Energy Africa fulfils Minister Shapps’s ambitious brief?
What does the 2016 election mean for America’s future position in the world? It’s likely too early to tell at this stage of the campaign cycle. Many of the early Republican contenders — such as Jeb Bush and Scott Walker — have been relatively quiet on foreign policy issues or have focused almost exclusively on Iran, Israel, and Russia. That’s to be expected at this point. Yet, other candidates — like Marco Rubio and Lindsey Graham — are already outlining a more comprehensive vision for advancing American interests.
Last week, President Obama’s Global Development Council (GDC) released a second report calling for bold, as well as incremental, reforms to “make US development efforts more catalytic and innovative.” This is a high-powered group of outside thinkers and doers, and their recommendations are excellent.