Blockchain provides a secure way to transmit data and capital between parties. For data, the ledger holds the data securely and without the ability to alter it. Water data and compliance with regulations are two challenges that face the agricultural industry. A network that verifies title to water, validates water transactions, and provides granular, 3rd party verified data is an invaluable foundation for water & agtech 3.0.
The macro problem is that is a "last mile" of data gap for much of the water datasets and analysis out there. This can lead to errors in decision making due to analysis that depends on estimates more than reality, or it can lead to inefficiency in the management of water resources.
There is something more to this problem, its resolution of disputes and trust in the system. Water record issues lead to legal battles and a lack of data to determine where best to invest in water solutions.
A mobile first application that hooks into the Ethereum network will provide farmers across the globe the ability to secure their title to water, verify exchange of water, and even use that verified data with NGOs, Financial institutions, supply chain corporates and governments for ESG compliance, regulatory compliance, impact measurement, and part of their collateral for lending institutions.
Data gaps and inefficient record management is a clear case for a blockchain and software application solution.
<aside> 💡 I think there is an alternative thesis track in that the entire water rights and management system is broken due to broken records and data management. The blockchain solution that solves this can reduce water disputes and provide better data for current data consumers like courts, governments, water masters, consultants, companies, communities, and NGOs. There are ancillary needs like records digitization and modern data infrastructure that would be part of this solution and need partners likely from government to get going.
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Clarity is the solution. Reducing disputes and optimizing allocation of water is climate adaptation at its best.
<aside> 💡 Feel free to add headers or text for new and existing ideas.
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Water markets provide a marketplace for parties to buy and sell water. The most famous water market is in the Murray-Darling Basin in Australia where the government plays a large role in setting the rules for the market and the amount of market information is much higher than any market in the U.S.
U.S Water Market Activity