Chile adopts Blockchain Solutions for National Energy Grid

Chilean National Energy Commission (CNE) will begin to use blockchain technology in its national grid system as an authenticator of marginal costs, market prices, fuel prices and compliance with energy laws.

The new system will be put in place later this month.

They are hoping that the use of blockchain will increase public trust in the agency, and boost investor and public confidence because as you already know, blockchain creates an open ledger of all transactions made by a system without any modifications.

This was a summary of an article originally published here on telesurtv. My own personal opinion follows.

Yet another practical use for blockchain. But what is interesting and new here is not that they are trying to boost the efficiency of the energy company, but its own credibility in the public eyes. Blockchain is silently becoming the de facto standard of public trust, and some public companies are becoming aware that the majority of the crypto-public who know their stuff trust blockchain because its impartial and unmodifiable. Maybe in the near futures we will see unpopular governments turn to the neutrality of blochain to increase the public trust in specific sectors, and I believe this will be a good thing in the long run, since we know that while statistics can be tortured and manipulated to cry and confess whatever we want to, blockchain can not(provided that its code is open source and openly audited).