Although water scarcity is not a problem in our regions, there are many countries that are struggling with inadequate water management. The Blockchain should help to use water efficiently. Australia and the USA have already developed initial concepts.
Two thirds of the earth is covered by water, but only 1 percent of it is usable for humans. While in our latitudes we have a guilty conscience about not letting the water run when we brush our teeth, others are actually struggling with water scarcity and rationing. Approximately 4.5 billion people do not have access to a safe water supply due to water scarcity – and the trend is rising. Blockchain technology could make water more efficient and ensure distribution. It could be used to store important data on water quality and quantity. This information would help both industrial consumers and private households to manage water consumption. Current data could be used to decide whether to store or use the water. This would not only reduce costs but also make distribution more efficient.
Bitcoin formula on the advance
The Australian city of Fremantle is currently planning a Bitcoin formula project to test the blockchain’s water and power distribution capabilities. Read more about it: http://www.onlinebetrug.de/bitcoin-formula The project will combine robust, low carbon and low cost systems with blockchain technology. A large photovoltaic system, a charging station for electric vehicles and systems for water treatment and absorption will also be connected to the Blockchain technology. This scope of the project already suggests it: Research is already underway here with a view to future smart cities.
Melbourne also wants to optimize water trading with the help of blockchain technology. To this end, the city has teamed up with start-up Civic Ledger. As part of the collaboration, they have completed a feasibility study for a blockchain-based application. This is intended to increase the transparency and efficiency of water market trading in Australia.
Clean water in the USA
The water used in oil drilling is mainly stored underground in barrels, which makes it impossible to use it for other purposes. Genesis Research Technology Group, based in the USA, has now developed a system that can purify the water without the use of chemicals. This process has proven to be very successful over the last three years. The company now uses the Ethereum blockchain to test and evaluate the water quality in a tamper-proof manner. To this end, it has entered into a cooperation agreement with MVP Asia Pacific Inc. Its CEO, Darren McVean, explained:
„The Blockchain represents an amazing potential for the environmental and land rehabilitation sector. In the past, governments and community groups had no access to land, water and air quality records. Few have confidence in the reports and this has nipped investment in environmentally friendly technologies in the bud. We believe that by incorporating Blockchain technology into Genesis RTG’s proven water treatment process, we can realize huge environmental benefits on a large scale and drive the Blockchain industry forward.“
Of course, the blockchain cannot conjure up water where there is none. However, it can obviously help people to distribute the available water efficiently and to document its quality reliably.