Chile is Putting Energy Regulation on the Blockchain

In March, the Chilean National Energy Commission is set to adopt blockchain technology – a first for a public entity in the South American country.

Warming up to the Blockchain’s Benefits

Andrés Romero, the executive secretary of the National Energy Commission of Chile, has announced that the country’s regulatory entity will start using blockchain technology in March.

According to PV Magazine, CNE will use the Open Energy platform (Energía Abierta) in order to “certify the quality and certainty of the open data of the national energy sector.” In doing so, CNE will officially become Chile’s first public entity to utilize the inherent benefits of blockchain technology.

The blockchain technology to be used will assist CNE in authenticating “average market prices, marginal costs, fuel prices and the compliance with renewable energy law.”

Romero has claimed that blockchain technology will secure CME’s energy data published on the platform, since the blockchain makes it nearly impossible to alter information. Explained the executive secretary:

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.

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