We did not hear so many important news coming from Chile about cryptocurrencies and blockchain technology. But now, we can say that the South American country is working with blockchain technology in the energy field. The Chilean energy regulatory agency, known as Comisión Nacional de Energía de Chile (CNE), announced that it will use blockchain for the national energy grid.

Chile Embraces Blockchain Technology

The Chilean energy regulator is working in order to use blockchain technology to check that the energy data complies with the country’s renewable energy law. According to the executive secretary of the CNE, Andrés Romero, the regulatory entity will start using this technology since March.

Chilean Flag Chile

Chilean Flag

The technology will be used through the Open Energy Platform (Energía Abierta) in order to certify the quality and data from the national energy sector. That will be the first public entity in Chile to use distributed ledger technology.

The main data that the CNE will start to authenticate using blockchain technology will be average market prices, marginal costs, fuel prices and compliance with renewable energies.

Mr Romero commented about this:

“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.”

The technology will allow the country to improve its knowledge about the consumption and energy procedures. This implementation will also be important for stakeholders, investors and consumers. The data will be delivered at www.energiaabierta.cl, and they will be able to check the data as soon as it is updated.

Blockchain Technology in the Energy Industry

Wien Energie, is another important energy company that is testing different use cases of blockchain technology. The electric company from Austria is working with different blockchain products near central Vienna.

Mr Astrid Schober, CIO of Wien Energie, said:

“We are testing blockchain based services in Vienna’s Viertel Zwei and once we have collected enough experience there, we will develop business models and bring them to the market. It may be overoptimistic but services may become available this year as we are trying to be active and build the know-how in our company fast.”

Viertel Zwei is a residential area mixed with office buildings that is considered as a green district. The technology is expected to help enterprises to record data transactions without intermediaries.

Wien Energie is part of Enerchain, a group of 35 European enterprises that are testing a trading platform for electricity, gas and B2B trading.

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