Chile adopt blockchain technologies in order to maintain and monitor the country’s electricity grid.

The blockchain is much more than just cryptocurrency. Its essence defines it as a Distributed Ledger Technology (DLT), but whereas many people repeat the concept to simply explain the technology that sustains Bitcoin (available on Coinbase) and aLTCoins, others explore and exploit the potential of what some experts define as the most important advance for society since the appearance of the Internet.

An example of these advances are the efforts being made by The Chilean National Energy Commission, which at the end of February announced that they will be migrating to the use of blockchain technologies “to certify the quality and certainty of the open data of the national energy sector”.

Placing data in a blockchain ensures a level of transparency, trust, and security that is difficult to compare with those obtained through centralized information management. This is somETHing that institutions understand well, so some data such as “average market prices, marginal costs, fuel prices and the compliance with renewable energy law” will be placed and obtained in real time in a transparent way through a DLT to not only facilitate a good relationship with the Chilean people but also to increase efficiency levels when doing research based on data, reducing bureaucracy and the need to corroborate information.