Published
5 years ago on
October 26, 2018
“The drought which is said to have been triggered by El Nino two years ago took a toll on agricultural production and economic growth throughout the country, but it was Cape Town's predicament that had it declared a national disaster. The severity of the crisis was evident when the water level behind the Voëlvlei Dam dropped low enough to raise alarm.”The government has been preparing for ‘Day Zero’ when all the public taps would be switched off in the city as a measure to bring wastage of water under control. Aside from climate change and global warming, the main reasons which made the situation worse were rapid urbanisation, a failure to harness rainwater and lack of education on the preservation of water for the population. Restoring to a blockchain system to plan out ways to tackle these areas of contention streamlines its execution. Hashcash is working with regulators to record the rainwater footprint on a decentralised immutable ledger that can be accessed by all for verification and reference. The platform aims to take a net-positive approach to track water usage by manufacturing units, agricultural lands and housing complexes. Currently, Cape Town has a population of around four million and auditing their daily water consumption is a massive feat and requires a computing base with unlimited storage to prevent a system fault and delayed the processing of data. Blockchain technology is an exciting product, with real implications to transform the way we do a lot of things. This is an example of blockchain not only being important but being absolutely vital in the future. Without water management, simply put, people will die. The blockchain has the ability to address many issues here, so it’s great to see the likes of Hashcash actually making the most of that. What are your thoughts? Let us know what you think down below in the comments! Investment Disclaimer
