WaterLedger

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Uploaded by Ramy Zhang in Markham
Region: Conseil scolaire de district catholique Centre-Sud      Category: Environment
School Name: École secondaire catholique Renaissance

Institutions like Goldman Sachs are predicting that water will become the new petroleum of the 21st century within the next couple years. This kind of crisis will engender major issues such as water conflicts and water monopolies. WaterLedger is an idea that uses blockchain technology to create a standardized distributed ledger for water distribution, monitoring and transparency. Using WaterLedger, all stakeholders within the water industry can make better informed decisions.

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7.5 billion humans. 21 billion livestock. 4.6 billion acres of farmland. Our 21st century world is thirsty. And as it turns out, our big blue planet might not be quite blue enough for us. To give you some sense of the problem, there’s around 1 billion km^3 water on Earth. 97% of it is saltwater, unsuitable for agriculture nor for mammal consumption, and only 3% of it is freshwater we can use. Then, less than 1% of that 3% of it is easily accessible for us to drink. So, less 0,03% of the world’s water. When water becomes more valuable than gold, what will happen? 1. Water Conflicts. Legal battles, political battles against our own for that last drop. 2. Water Monopolies. Conglomerates are already starting to find ways to gain more control over the world’s water supply. But! This is not just a demand problem; it’s also a logistics problem. If we play our cards right, we can most definitely stretch out that 0.03% for all of us to survive easily. This is WaterLedger, a decentralized blockchain application that leverages distributed ledger technology to create water transparency, enable micro-water transactions, and monitors water quality and movement in real-time. Because blockchain is a type of data structure that is cryptographially secure and allows for trustless data transaction, it’s the perfect use case to solve our future water problem. With WaterLedger, all stakeholders in the water industry, even policymakers and providers, will be able to understand exactly where every cubic centimetre of water is going and at what time, thus keeping water providers accountable to make better informed decisions about water distribution among households. Secondly, WaterLedger will make sure we’re distributing water the most efficiently possible by making use of the colossal amounts of data produced by internet-of-things sensors along pipes, allowing everyone to monitor potential leaks and contaminant sources real-time. It will effectively democratize and demystify water ownership, and even allow citizens to collect rainwater, purify it and sell it on the distributed ledger on their own accord. Blockchain is the future for a world where everyone can have access to water, and WaterLedger will make that future a reality.

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