Feb 11, 2019 17:30 UTC
Feb 14, 2019 at 07:33 UTC
IBM Collaborates With The Freshwater Trust To Track Groundwater Usage With Blockchain
IBM Research has recently announced a new project which will be focusing on showcasing how blockchain technology and remote IoT (Internet-of-things) sensors can be used to measure groundwater usage in a transparent and accurate manner in real-time.
The project which has been jointly funded by the Water Foundation and the Gordon and Betty Moore Foundation will be conducted in partnership with The Freshwater Trust (TFT) and SeetSense. TFT is a nonprofit working to protect and restore freshwater ecosystems, while SweetSense, a provider of low-cost satellite connected sensors. The research will be enriched by contributions from the University of Colorado Boulder.
As per the official release, the group will be carrying out the first system in northern California’s Sacramento-San Joaquin River Delta, an area which is quite frequently known as the “nexus of California’s statewide water system.”
IBM Research has provided explanations that water extraction data will be transmitted by sensors to orbiting satellites and then to IBM Blockchain, which will be recording all data exchanges or transactions. They also clarified that using a web-based dashboard will also enable various stakeholders like water consumers, financiers and regulators to monitor and track the use of groundwater to demonstrate how sustainable pumping levels can be achieved through the trading of groundwater use shares in the State of California.
Moreover, this system will also allow individuals who have a necessity to buy groundwater beyond their share cap to purchase groundwater shares from users who do not require all of their supply at a market-regulated rate.
Alex Johnson, the Freshwater Fund Director with TFT, said,
“Our strategic intent is to harness new technologies to develop a system that makes getting groundwater more sustainable, collaborative, accurate and transparent process, which is why we are using the blockchain. We now have the project team and funding to do it, and a strong network of partners in the region that are open to an initial testing and building phase.”