Water management and treatment is crucial as it delivers guaranteed access to potable water in water-deficient areas and ensures sustainability in areas with limited sanitation. From public water supply to effluent treatment and sewage treatment, water management processes not only help maintain the cycles of nature but address water scarcity problem efficiently. In this blog, we are covering how Blockchain in water industry can be fruitful for every deprived.
However, the process of maintaining health, hygiene and productivity of the community by constantly supplying clean water is not easy. This complete process of water management and treatment is expensive and complicated, and it is vital to carry these activities without harming the environment. In such a scenario, can Blockchain technology help address these issues!!
Digital Tokens for Water System
A new cryptocurrency can help supply continuous funding to reverie of little, decentralized water treatment system. In fact, several companies are putting up some serious effort to realize this dream and developing model for seed funding. But, let’s take a look at the issues of this industry.
Water treatment and management is a costly affair and demands millions and billions of dollars to work out. Also, Maintenance of sewage system is inevitable for maintaining environmental cycles and ecology health. Water and waste production is part and parcel of every industry, whether it is real estate or food industry. However, it is unfortunate that the world ignores this sector and hence, receives limited investment opportunity.
Blockchain can deliver a financial platform as a new token or cryptocurrency can be launched for funding especially to private water treatment systems. Also, this industry can digitalize itself by implementing some cutting-edge technology and establish partnership with other essential industries. How? Let us understand by an example.
For instance, Real estate industry is booming, and agents are investing heavily in this sector. Here, maintenance of water and sewage system is unavoidable. They have two options, either to tie up with sewage system to run sewage line, where both blackwater and greywater are washed out to municipality for water and sewage treatment or developing an on-site Blockchain water management system. in the later version, real estate developers can treat water on site and use that water for irrigating garden or golf course.
Hence, you are protecting environment as well as minimizing the cost of recycling. Also, you are no longer dependent on central municipality system for water supply. Undoubtedly, water treatment and management are coming to an edge and Blockchain is helping it to decentralize and reducing the cost involved along with dependency.
With Blockchain technology, it would be rather possible for industries, consumers, households, and water managers, to retrieve treasured information about water quantity and quality and help make well-versed decisions. Also, these data empower users to make better decisions about water usage and conversation.
This technology will diminish cost, enhance efficiency and help people realize the importance of this precious commodity. However, this technology cannot measure or track the accurate water flow but definitely provide assistance in the development of smart cities and tackle water scarcity issue with ease.
They intend to harness the potential of Blockchain technology by launching a new cryptocurrency and tackle the problem of water crisis. They are planning to develop a decentralized water funding platform that can help augment the quality of water and avail portable water to all.
Genesis Research and Technology Group
This U.S.-based company is focusing on oil and gas drilling sector and aims to recycle wastewater released from there. For this purpose, they have already built a water purification system and is currently working on a system called the Internet of Things water quality system that can store water quality records on Ethereum blockchain. This will help world to be more confident about the water quality, they are using on regular basis and can notify officials, whenever the water quality deteriorates.
Last decades have witnessed abuse of most limited yet precious resource of earth i.e. water. Now, the world is realizing its worth after watching thousands of people dying due to contaminated water. Water crisis is a reality and we urgently need a solution.
Blockchain in water management has turned out to be a blessing for most of the industries, whether it is real estate that is allowing agents to construct homes or food industry, where every stage is monitored and recorded. Blockchain can help world restore water balance by giving techniques of harvesting clean water while making this domain more profitable.