Editor’s note: This article is from Babbitt , 36氪 reprinted with permission.
Chile will utilize Ethereum’s blockchain to record energy sector statistics, the Chilean government announced Thursday.
The National Energy Commission, part of the country's energy ministry, said in an announcement that it would submit data to the public ethereum ledger to "enhance the security, integrity, security, integrity and security of information available to the public. Traceability and Confidence".
The committee is particularly concerned that its database could be hacked and manipulated. Ethereum-based approaches offer an alternative to data storage, as distributed ledger with a large number of nodes helps alleviate this concern.
The committee has already started submitting some data to the blockchain, including information on equipped generation capacity, average market prices, marginal costs, hydrocarbon prices, and the percentage of renewables in electricity generation required by law.
After completing the first phase of the project, known as "Energia Abierta" or "Open Energy", the committee will study these results and share the field with other companies and government agencies.
"We are interested in applying this technology from the conceptual level to concrete cases, which have been recognized by world-class experts as the most disruptive technology of the past decade," Chile's energy minister Susana Jimenez said in a statement. With a certain understanding, it could become part of everyday life for years to come."
The committee's decision to use an open blockchain like Ethereum rather than a so-called permissioned network is excellent. The statement explained that having "thousands of thousands of servers" authenticate data, making it more trustworthy and harder to tamper with.