Blockchain

National Energy Commission will be the first public entity in Chile to use Blockchain

This commission will begin to authenticate average energy market prices, marginal costs, fuel prices, among others.

Chile’s National Energy Commission (CNE) announced that it will be the first public entity in that southern country to use Blockchain.

On its website it explains:

Adding to the digital revolution that has caused the rise of Blockchain or chain of blocks in the world, the Executive Secretary of the National Energy Commission, Andrés Romero, announced that the regulatory entity will begin in March to use this technology through the Open Energy platform to certify the quality and certainty of the open data of the national energy sector.

Among the information that this commission will begin to authenticate are the average market prices, marginal costs, fuel prices, compliance with the Non-Conventional Renewable Energy Law (NCRE), among others.

When referring to Blockchain, Romero indicates:

The National Energy Commission has wanted 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 leave an unalterable record of its existence.

As explained by the CNE Executive Secretary on the web, Blockchain will allow the regulatory body to improve security in energy data published on the platform, since it is almost impossible to alter or hack the information. It will also ensure that the data have not been modified since its creation without the consent of those involved in the process, as well as to audit the processes in a simpler manner and provide transparency “since third parties can control the actions of the state thanks to the distributed information of Blockchain”.

The Executive Secretary of the CNE adds:

Public information is an important input for investment and energy project decision-making and many of our users use this information to decide on technical, economic and labour issues. That is why by using this technology we will raise the levels of confidence of our stakeholders, investors and citizens in general who consume the data delivered at www.energiaabieta.cl “.

www.energiaabierta.cl is a multifunctional portal developed by the National Energy Commission that contains statistics, indicators, maps, legal standards, studies and web applications of the energy sector, in the areas of electricity, hydrocarbons, energy efficiency, among others.

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