Energy News

Chile uses blockchain to increase trust in energy market data

Chile Oil
Chile’s Minister of Energy, Susana Jiménez, announced that starting from April 5th the National Energy Commission (CNE) will begin to use blockchain technology. The aim is to increase the security, transparency, and confidence in the available public information. The Minister stresses the risks of centralized information, being ‘easy to manipulate or hack by third parties’. Distributing on and validation by the Ethereum network and nodes will protect data from modification. In 2018 the International Energy Agency, which boasts 30 country members, recommended in a Chile report that ‘high-quality energy data should be pursued to support policy making, monitoring of achievements and market transparency.’

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