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, due to a guilty conscience, we do not let the water run when brushing our teeth, others are actually struggling with water shortages and corresponding rationing. Approximately 4.5 billion people have no access to a secure water supply due to water scarcity – and the trend is rising.
The blockchain technology could ensure that water can be used more efficiently and distribution ensured. In this way, important data on water quality and quantity could be stored on it. This information would help both industrial consumers and private households to manage water consumption. Current data could be used to decide whether the water can be stored or used. This would not only reduce costs, but also make distribution more efficient.
Australia on the advance
The Australian city of Fremantle is currently planning a project to test the capabilities of the blockchain for water and energy distribution. For this purpose, robust, low-carbon and cost-effective systems are combined with the 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. The city has teamed up with the start-up Civic Ledger for this purpose. As part of the collaboration, they completed a feasibility study for a blockchain-based application. This should increase the transparency and efficiency of water market trade in Australia.