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Blockchain, Featured, Technology

Blockchain-Based Water Trading System Might Solve Worldwide Water Scarcity Issues

We have heard “save water”, and ” conserve water” for years, and now the day has come when people struggle to get a glass of fresh water in many countries. The waste of fresh water has led to food insecurity and the overall health of humankind in different parts of the world. 

Almost two-thirds of the global population is suffering from severe water scarcity for at least one month every year. With the increasing population, it is important to change the way we consume water. With time climate change has become a global issue that challenges water consumption at sustainable levels. Several studies show the problem of water scarcity and how it is only going to increase in the future. 

Companies Around The World Initiate Blockchain-Based Projects

With global water supplies under pressure due to growing demand and climate change, many companies are coming forward with a new water trading platform underpinned by blockchain technology. These companies help businesses to relieve water shortages by developing the world’s first water trading platform. It will enable the exchange of water derived from plants focusing on the concept of sustainable water counteracting.

Water scarcity is a serious issue in every sphere of life including economic, social, environmental, and political. Companies like H2O Securities, Fujitsu and Botanical Water Technologies, and many others have initiated projects that will help to develop a blockchain-based platform as a water scarcity solution. 

Also Read: Singapore issues Data Protection Guidelines for Blockchain Networks

Fujitsu & Botanical Water Technologies On Water Scarcity Projects

The BWT (Botanical Water Technologies) leverages its technology to re-mineralize and purify water. The water is normally omitted during fruit juice and vegetable production along with sugarcane processing. It provides water derived from plants to areas where it is hard to conserve drinking water.

According to a survey, 90% of the bottled water in the world is contaminated and is mainly caused by plastic residue. The project was launched in April 2022, with the envision that the new platform will contribute to the safety and security of water trading. It will make way for an open market that can sell purified water. Since the water is plant-based, it is not harmful. 

Also Read: Impact Of Macroeconomic Events On Bitcoins And Other Cryptocurrencies

H2O Securities Introduce H2O Water Network 

H2O securities obtained a huge amount of $150million investment from GEM Digital and a $3.4million investment firm in the Bahamas. The investment has led GEM Digital to hold H20N tokens which will help to fund water delivery systems in remote areas where water scarcity is a serious problem. The company will resolve any issues related to water scarcity using blockchain technology. 

According to the announcement made by H2O Securities, as of the 7th of July, the token is listed in ApeSwap and BitMart. With the growing water scarcity globally, H2O Securities recognized the importance to build new water plants. The company has formed a new finance model that uses smart contracts, blockchain, and tokenization to quicken the process of water plants. 

Wrapping Up

Blockchain Technology will help to influence worldwide participation and enable them to actively participate in deploying water system projects and connected services. Smart contracts backed by blockchain technology, unlike conventional finance models, help to automate risk management. A sustainable water system requires efficiency and water conservation. The initiative of the companies using cutting-edge blockchain technology will help the world combat water scarcity issues in the future.

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