More

    Chile Adopts Blockchain Technology For National Energy Grid

    Share this

    on

    |

    views

    and

    comments

    Share this

    The Chilean energy regulatory agency, the Comisión Nacional de Energía de Chile (CNE), has announced that it will implement Blockchain technology in the national energy grid, reports trade publication pv magazine on Feb. 27.

    The CNE will use the Blockchain to authenticate information like marginal costs, average market prices, fuel prices, and compliance with renewable energy law. The CNE executive secretary  Andrés Romero stated that the move toward blockchain was done out of concern for data security.

    “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,” says Romero.

    Romero added that the technology will increase trust in the data provided by the regulatory agency, boosting the confidence of investors, stakeholders, and the public at large. Chile plans to implement the technology in March, 2018.

    Blockchain technology has proved a boon for energy companies in regulators in various sectors of the industry. S&P Global Platts recently announced they would be using deploy its own Blockchain solution for reporting information on oil in the UAE.

    The WePower project has employed Blockchain solutions to integrating metering data with grid operations and advanced analytics in a effort to build ‘smart metering’. This Ethereum-based platform allows consumers to connect directly to renewable energy sources for their power.

    Share this
    Tags
    spot_img

    Subscribe ⇘

    1,000FansLike
    1,000FollowersFollow
    1,000FollowersFollow

    Must-read

    Five Affordable Part-Time Home Business Ideas

    Part-time businesses can help you achieve your goals, whether it's to earn extra income or keep your job secure by working from home. Some...

    Different types of pallets for recycling

    It is essential to accurately identify and sort incoming pallets when collecting them for recycling. Certain types of pallets are more valuable than others....

    Introduction to paper recycling

    Due to growing environmental awareness, recycling has become a very popular industry in America. The industry includes paper recycling, which is a large portion...

    Recent articles

    More like this

    error: Content is protected !!