Chile Implements Blockchain Technology to Their Energy Grid

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The Comisión Nacional de Energía de Chile (CNE) (Chile’s energy agency) has announced that it will integrate a blockchain to their national energy grid.

Andres Romero, CNE’s executive secretary, stated,

“The National Energy Commission has decided to join this innovative technology and we have decided to use blockchain as a digital notary, which will allow us to certify that the information we provide in the open data portal has not been altered or modified and left unalterable record of its existence.”

Mr. Romero also states that blockchain will bring trust to the clients, investors and shareholders regarding the accuracy and legitimacy of the data provided by the agency.

The technology will be implemented in March of 2018. It will be used to authenticate and store data like fuel prices, compliance with national energy laws, average market prices and marginal cost.

Many energy companies and regulators are starting to see the potential blockchain has to offer. Corporations like Global  Patts are implementing blockchain to their energy grid. In the meanwhile, many blockchain startups such as WePower and PowerLedger are developing platforms to help energy producers connect with each other and make their energy grids more transparent and efficient.

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