coinspectator - 2/11/2019 5:24:17 PM - GMT (+0 )
Specifically, the project aims to show how the use of blockchain technology and remote IoT sensors can foster freshwater conservation by accurately measuring groundwater usage in real-time, in a transparent manner. Per the team, the IoT sensors will send water extraction data to orbiting satellites and store the accurate data on the IBM Blockchain network. If all goes as planned, the team has made it clear that the DLT and IoT solution will make it possible for consumers, including farmers, financiers, as well as regulators, to seamlessly monitor and track the use of groundwater.
In the same vein, the project aims to show how sustainable pumping levels can be achieved through the trading of groundwater use shares in the State of California. Farmers and other individual water users who need more substantial amounts beyond their share cap can easily buy groundwater shares from those who cannot make use of all the water supplied to them. Commenting on the development, Freshwater Fund Director at TFT, Alex Johnson noted that: With each passing day, blockchain technology keeps gaining traction in a vast array of sectors in the global economy. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full