To put it in a nutshell, this could be the future for storage technology. The memristor has been the missing link from back when resistors, inductors and capacitors were originally created. What has now changed is the use of nano technology which has allowed the creation of the fourth electronic component; the memristor.
This technology can “remember” how much current has passed through it and can save its electronic state even when turned off. This means that in theory it will be much faster and cheaper than flash memory (And SSDs), and eventually also replace the hard drive for data storage.