Camara de Diputados Parliament of Chile witnessed the presentation on Blockchain Technology by two of its MPs on Thursday. The proposal seeks for the studies on the advantages of blockchain-based security and energy solutions. The news was reported by the local news website Fortin Mapocho.

This project idea was first proposed in the month of August. Miguel Angel Calisto and Giorgio Jackson presented the project. The project states about the effective application of the distributed ledger technology in the country. The two including 8 other members urged the Chilean President, Sebastian Pinera to engage the technology in as many sectors as possible.

As per the report, the document also contains engagement of measurement studies. Henceforth, these studies will focus on carrying out research on the blockchain – based security and solutions.

Jackson explained that the reason behind this idea was to reduce the cost of the maintenance of notaries. He also stated that the introduction of decentralised ledger technology will solve the issue effectively. This will allow the secure storage of all the information in the cloud. Thus, it will also provide transparency to the Government and its people.

Stressing out the importance of safety in blockchain, MP Calisto also shared his notions. He expressed that the issues like identity theft and mutations are easy to solve using the technology.

No confirmation report has surfaced till now. However, the Members of Parliament (MPs) are sure that Blockchain Technology would bear desired results.