Latin America energy sector will be strengthened with blockchain

The application of blockchain technology in the electricity sector in Latin America opened up great possibilities for the decentralization of this area, and in turn promote the creation of new solutions.

The use of new technologies within the energy market, such as Big Data or Artificial Intelligence, are helping the Latin American region to be more modern and efficient.

Certi highlighted some potential for the use of new technologies in the electricity sector, such as P2P energy trading, wholesale energy trading, data management and certificates of origin.

“Blockchain in the electricity sector is directly related to a greater use of renewable energies. With this technology it is possible for consumers to obtain certificates of origin, which guarantee the registration and traceability of these sources”, the expert specified.

On the other hand, he indicated that blockchain technology can also be applied to the charging of electric vehicles, being available in the infrastructure of power stations, both as a manager in energy transactions and in payments with virtual currencies.

“Blockchain contributes to advancing in the digitization of the electricity sector and enables the creation of new business models, offering innovative services for greater efficiency and sustainability,” he remarked.

K. Tovar

Source: Cointelegraph