Blockchain Pilot For Energy Data Launched By Chile’s Energy Regulator

Announcements, Blockchain | April 9, 2018 By:

The Comisión Nacional de Energía de Chile (CNE), Chile’s national energy regulation organization, has launched a blockchain pilot project aimed at boosting the transparency, accuracy, and security of data relating to the nation’s energy sector.

CNE is a public entity responsible for developing and coordinating plans, policies and standards necessary for the proper functioning and development of the country’s energy sector. It also oversees the implementation of all matters related to energy, both in its production and promotion of efficient use of energy.

The goal of the blockchain pilot is to raise the standards that certify the quality and certainty of the data that is published to and from the country’s energy sector. The CNE said this will be achieved through the information and statistics platform “Energía Abierta,” which will provide public access to real-time information.

After the Energía Abierta software is used to verify their accuracy, the data will be hashed and written to the ethereum blockchain. This will minimize the chance of an incorrect data input caused by either the Open Energy platform or human error. Members of the public will be able to access the data through one of several graphical user interfaces (GUI).

In the first stage, the CNE will include information on national electric installed capacity, average market prices, marginal costs, hydrocarbon prices, compliance with the NCRE law, medium-generation electricity generation, the factors of emission and residential generation facilities, among others.

Chile’s Minister of Energy Susana Jiménez said the Ministry of Energy are interested in bringing blockchain technology down from a conceptual level to a concrete use case, with the understanding that leading experts consider it the most disruptive technology of the last decade, one which can become a part of our daily lives in the coming years.

“By using this technology, we will raise the levels of trust of our stakeholders, investors and citizens in general who use the data delivered,” Jiménez said.