Chile to record energy data and statistics to blockchain

Chilean Energy Ministry from now on will commit energy usage data to Ethereum blockchain to provide transparent records to the government and public
10 April 2018   994

Data collection from various sources is a great application of blockchain technology. And Chilean National Energy Commission has decided the same in regards of the country's energy data and statistics. Now all this information will be recorded and tracked through Ethereum blockchain, according to the announcement by Chilean energy minister Susana Jimenez.

The new project Energia Abierta (“Open Energy”) by National Energy Commission and under the supervision of Chilean Energy Ministry from now on will commit all the detailed information from the country's energy sector to Ethereum blockchain in an effort to “augment levels of security, integrity, traceability, and confidence in the information available to the public”.

The initiative's decision to use blockchain stems from the need to present a detailed and trustworthy source of information not only to the public, but also the government. It might prove beneficial because in legislation it's necessary to align the real numbers with approximations of renewable energy output.

Some data has already been written to blockchain, including average market prices and marginal costs, electricity-generating capacities, hydrocarbon prices and legal compliance information.

AION to Unveil Future Plans

Foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year
06 December 2018   141

The Aion Foundation, which is responsible for the development of the protocol of the same name and collected $ 23 million in Bitcoin and Ethereum on ICO in October last year, published a report in which it shared information about its financial operations. The report was prepared with the support of Deloitte, however, it cannot formally be considered an audit.

According to the Aion Foundation CEO Matthew Spoke, the foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year. Having spent $ 10 million on launching its blockchain platform and opening offices in Canada, China and Barbados, the fund had assets of $ 14 million as of October 31 of this year, $ 5.8 million of which was placed in Fiat.

We’ve liquidated a decent amount of our bitcoin and eth that we raised as proceeds to make sure that we are stable in this type of period. As we continue to spend in our operations we’ll end up liquidating more bitcoin and eth over the course of the next few months.
 

Matt Spoke

CEO, Aion Foundation

The Aion protocol has already attracted active users, including the video game start-up ClanPlay, but Spoke claims that his company will continue to rely on hard currency.

The foundation has roughly 18 months of runway, Spock estimates, while developing his system to a level at which it can compete with centralized counterparts, such as Amazon Web Services, will take about five years. Aion expects to launch its first Java-based virtual  machine, thanks to which developers can use decentralized tools, by the second quarter of next year.

Spoke suggests that at this time his company will have to attract additional funding from cryptocurrency funds and accredited investors in exchange for their own tokens. His goal is to prevent the reduction of the team, which currently includes 61 people, and the operation of the Ethereum model of ConsenSys, a company sponsoring projects in its own ecosystem.

In the future, Aion intends to publish such reports on a quarterly basis and transfer data to the Messari network in order to increase the confidence of its tokens holders.