Global Water Trading Platform, powered by Blockchain Technology

Description

Botanical Water Technologies (BWT) is an initiative aimed at addressing the global water crisis. In collaboration with Fujitsu, BWT has created the Botanical Water Exchange (BWX), a groundbreaking platform that leverages Hyperledger Fabric blockchain technology to manage water resources more efficiently. Botanical Water Technologies (BWT)’s primary goal is to recover water that is typically wasted during the concentration process of fruits and vegetables, a problem that accounts for an estimated 3 trillion liters of wasted water annually. They have their own technology to capture and purify wasted water, making it drinkable. Then came the problem of how to distribute the water. Through different iniatives such as directly selling the water to manufacturers, gifting it to people in need or allowing mulitnationals to “offset” their water usage and achieve their sustainability goals to buy water credits, BWT found ways to use their purified waster water.

However, a second problem came, namely, how to trade this water? That’s where the idea of a global water trading platform was born. And to track the whole process, what better technology than blockchain?

Benefits of using blockchain technology:

To foster trust, transparency is a must. The platform must be able to provide a single source of truth that is easily accessible by all parties. Blockchain’s transparency and traceability allows to track where the water comes from and where it is going. Blockchain can also very easily help them certify their water credits and simplify a lot the auditors’ job. All of this permits to reduce costs as well.

To do so, they decided to use a permissioned blockchain based on Hyperledger Fabric. According to BWT, using a Hyperledger Fabric “can solve complex business problems using all the benefits of blockchain technology, so you know exactly who does what, when, and why”.


By creating the world’s first global water trading platform, BWX not only recovers this wasted water but also tracks, traces, and certifies every transaction. This ensures the utmost transparency and security in the distribution of this essential resource.

Below is an illustration of how the platform work:

Image source: Hyperledger’s website

WHY IS WATER RECOVERY IMPORTANT?

Nowadays, about four billion people experience severe water scarcity during at least one month of the year. The UN’s Sustainable Development Goals (SDGs) for 2030 recognize the urgency of addressing this water scarcity. For that matter, the focus on the conservation of water sources, and the reduction of water consumption at production facilities is growing. That is the reason why BWT and Fujistsu have partnered: to provide clean drinking water to everybody.

In terms of result, a standard Water Harvesting Unit (WHU) deployed by BWT can harvest approximately 460,000 liters or 122,000 gallons of water per day. When fully operational, the technology has the potential to generate up to 3 trillion liters of potable water each year from over 10,000 processors.

In summary, Botanical Water Technologies is a transformative solution that aims to redefine the way we manage and distribute water globally, offering a sustainable, secure, and efficient approach to tackling water scarcity. As for their vision of the future, they hope to have real-time data of the water harvested and delivered, as well as the impact this water had on people.

Benefits & Outcomes
  • Contributing to global water sustainability.
  • Enhance transparency and security for tracking and certifying water transactions
  • Empowering vulnerable communities
  • Facilitating global water trading
  • Boost operational efficiency
  • Encourage industries to adopt more sustainable practices by providing a financial incentive to recover and trade wasted water.
Links
Further Info

Fujitsu provides key technologies for Botanical Water Technologies to launch a new blockchain water trading platform to enable safe and secure water trading, delivering up to 3 trillion liters of new pure drinking water annually. Currently, a standard Water Harvesting Unit (WHU) can harvest ~460,000 liters or ~122,000 gallons per day. The goal is to provide clean drinking water to 100 million of the world’s most vulnerable people by 2025.

With Botanical Water’s patented technology, water resources that are normally discarded during agricultural production can be refined and reused, contributing to a reduction in water loss
The new platform tackles global water scarcity experienced by nearly two-thirds of the worldwide population and aims to realize sustainable, circular water usage where participants can gift potable water to philanthropic projects, which will help organizations become “water positive” and achieve their ESG goals

Status

Project is live and is still developing. Research by Alexandre on November 2023.

© Antony Welfare 2024

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