#waterexperts

[thewaterblockchain]

Blockchain To Address Global Water Scarcity

There is a growing need for the water sector to address global water scarcity and water quality challenges through new approaches. Water utilities face acute challenges at a local scale to meet the needs of growing urban populations. Costly centralised systems might not be the way forward and if (or when) the predicted trend towards decentralisation and digitalisation becomes a reality, then blockchain technology will be fundamental to this new digital water world.

Some fascinating projects are coming about, facilitated through blockchain, that aim to build decentralised, resource-based economy networks. Blockchain technology can help mediate payments between producer and consumer, as well as record exact exchanges of water resource assets and payments through new digital financial systems like cryptocurrencies. This technology has the potential to decentralise and democratise the use and management of resources and put communities at the centre of sustainable development. If this seems like a far way off, think back to the early 2000s – how many people had a mobile phone?

Cutting costs and speedy transactions

Even for our current centralised systems, blockchain can help to create more efficiencies and cut fees by providing a system through which transactions are quickly settled at a low cost. Santander found that implementing blockchain into bank transactions dramatically cuts costs while allowing for relatively immediate payments, reducing the delays and fees incurred by traditional banking systems. Utilities that automate their processes through blockchain and remove the intermediaries that distribute payments and process transactions would benefit from improving speed and efficiency of payments for customers as well as reduce their own operating costs and risks of errors. By providing a secure, immutable system, blockchain could help to streamline transactions for water utilities.

https://www.thesourcemagazine.org/blockchain-the-final-drop-in-the-wave-of-digital-water-disruption-part-2/

[thewaterblockchain]

Blockchains To Improve Water Supply

With so many unique issues to tackle, it’s important to begin small by working on problems that can be immediately solved. Once smaller successes are achieved, it becomes easier to work on larger, complex issues. In time, blockchain may help reshape social structures and paradigms to reflect more favorably on laborers around the world.

But for now, an asset-centric approach is an effective way to deploy blockchain technology and make real improvements in supply chains. https://www.forbes.com/sites/samantharadocchia/2018/06/19/why-the-extraction-of-natural-resources-needs-a-blockchain-solution/#605681855596

[thewaterblockchain]

The WaterCoin Project

Blockchain, the technology behind cryptocurrencies like Bitcoin and Ethereum offers the possibility of improving upon the current efforts being made to solve the global water shortage. Centralized processes tend to be bogged down by transparency and security issues. Lack of trusted information flow showing how funds are being utilized disincentivizes donors from continuing to contribute to these worthy causes.

BANKEX has decided to apply blockchain technology to create a robust and comprehensive decentralized platform that restores transparency and ensures judicious use of charitable project funds. WaterCoin is a blockchain-based token that allows people from all over the world to donate money in support of clean water initiatives across the globe. WaterCoin is a utility token in the truest sense of the word meaning that it can only be used within the clean water initiative ecosystem.

During the pilot project, one WaterCoin costs only $0.02, the price of the drinking water from water pipes.

Each WaterCoin is redeemable for one liter of drinking water. At this phase, a $1 donation could provide 50 liters of clean drinking water, as the price of the water system and the service fee are not included in the final price. http://bitcoinist.com/bankex-unveils-first-blockchain-based-public-access-clean-water-system-kenya/