The energy sector is one of the most benefited industries after incorporating blockchain technology. The Comisión Nacional de Energía de Chile (CNE), the institution that regulates the energy sector, launched a pilot that is based on the Ethereum’s blockchain.

Chile Incorporates Blockchain Technology

According to a press release uploaded by the CNE, in order to improve the technological aspects of the energy sector, the CNE has decided to use Blockchain technology. With this implementation, the CNE expects to improve procedure’s safety and have a better control over the information it handles.

The statement reads as follows:

 “Within the framework of the proposed objectives to gradually incorporate greater innovation to the energy sector, the Minister of Energy, Susana Jiménez, announced that as of today, the National Energy Commission (CNE) will begin to use Blockchain technology to increase the levels of security, integrity, traceability, and confidence of the public information available, raising the standards that certify the quality and certainty of the data that is published to and from our energy sector.”

Susana Jiménez, Ministry of Energy, said that with this project, the country is able to apply blockchain technology to a concrete use case. At the same time, she explained that blockchain technology is one of the most revolutionary technologies in the last years and has an important growth potential for the future.

Using blockchain technology, the ministry will be able to reduce the possibility of suffering hacks or data manipulation. The project will start to operate under the name of “Energía Abierta” (Open Energy). In this way, people would have access to energy information at any moment, and in real time.

Susana Jiménez commented:

“Public information is a very important input for investment decision making, public policy’s design, or the creation of new tools for serving the society, which is why many of our users use this information to decide technical, economic, and labour issues.”

Past Reports

At Coinstaker we have written about the implementation of Blockchain technology by the Chilean energy regulatory agency in March. At that time, we reported that the executive secretary of the CNE, Andrés Romero, confirmed that the regulatory entity was going to start using blockchain technology between March and April.

Mr Romero said about that:

“The National Energy Commission has decided to join this innovative technology and we have decided to sue 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.”

There are several enterprises all over the world using blockchain technology to offer better products and improved services.

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