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“Blockchain goes green with revolutionary water technology” reads the Genesis Research and Technology Group website. Blockchain has disrupted many industries and sectors, but the WaterToken is the world’s first chemical-free plasma technology platform based on blockchain.
The Genesis RTG water recycling systems treat 500 bbl/per hour using its patented and proven process known as “pulsed dielectric barrier discharge”. What the process does is kill microorganisms, oxidize contaminants and coagulate other contaminants. According to RTG’s website, when this process is combined with ultrafiltration or/and another complex process of reverse osmosis, it can turn water to whatever standard needed.
The water quantity and quality records will be stored on an Ethereum blockchain, which will create an accurate and permanent water quality track and results. What this WaterToken will do is actually increase efficiency, transparency and accountability of the environmental impact that is imposed from water fracking. Once all the data is put into the Ethereum blockchain, it is going to stay there forever. The carbon footprint of each product will be traced and recorded through the IoT sensors. Genesis RTG shares in their introduction video that this new innovation will motivate consumers to buy products with low carbon footprint and companies to advertise and sell products that are environmentally good.
After the global launch on October 25th, the data will be tracked in real time. According to PR Newswire:
“Legal document storage on the blockchain could cut down on fraud and manipulation of the global carbon credits scheme. It is estimated that currently $979,000,000 USD is spent annually to administrate the global carbon credit scheme,” states Darren McVean, CEO of MVP Asia Pacific.”
The WaterToken is undoubtedly one of the most creative and useful applications of the blockchain technology so far. The breadth and depth of blockchain only speaks about the potential of the future industries and sectors that may be disrupted by the technology.