Chile’s energy regulator to use Blockchain

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The executive secretary of the National Energy Commission of Chile, Andrés Romero announced that the regulatory entity will begin to use the Blockchain technology starting from March, through the Open Energy platform (Energía Abierta) to certify the quality and certainty of the open data of the national energy sector.

In doing so, it will become the country’s first public entity to make use of Blockchain.

Among the information CNE will begin to authenticate on the Blockchain platform are: average market prices; marginal costs; fuel prices; and compliance with the renewable energy law.

According to Romero, this technology will allow the regulatory body to improve the security of energy data published on the platform, since in a Blockchain-based distributed database it is almost impossible to alter the information. This will ensure the data has not been modified since its inception, without the consent of those involved in the process.

“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,” Romero said.

The executive secretary of the CNE added that “public information is an important input for the decision making of investments and energy projects and many of our users use this information to decide technical, economic and labor aspects. That is why, through the use of this technology, we will raise the levels of trust of our stakeholders, investors and the general public that consumes the data delivered at www.energiaabieta.cl.”

Chile is currently Latin America’s largest solar market, with around 2 GW of installed PV capacity.