Chile’s National Energy Commission Will Test a Blockchain-Based System

Chile blockchain energy

Chile’s National Energy Commission (CNE) will test a blockchain-based system, using Ethereum’s platform to store energy data in a secure and transparent system, according to a press release from the Chilean agency on April 5.

Susana Jiménez, Chile’s Energy Minister, expressed that its government wants to use the blockchain technology to enhance security, traceability and transparency of the system that records energy data, which will increase the people’s confidence. The information will be stored on the platform “Energía Abierta”.

Minister Jiménez explained that its government is “understanding that it is considered by experts worldwide as the most disruptive technology of the last decade, and that [it will] be part of our day to day within the next few years. ”

The government considers that it will be more effective to have decentralized system, where the information is verified by many witnesses and stored on many servers, since everyone will have the real-time information concerning energy data.

With a blockchain-based system, it will be impossible to modify or hack the information that is stored and recorded in real-time on the distributed ledger.

The main purpose of this project is to reduce pollution and enhance transparency and accuracy in the energy data.

“Public information is an important input for making investment decisions, designing public policies or creating new tools at the service of society, which is why many of our users use this information to decide technical, economic and labor aspects,” Jiménez explained.” That is why, by using this technology, we will raise the levels of trust of our stakeholders, investors and citizens in general who use the data delivered.”

 

 

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