Colorado to Examine Blockchain Implementation in Water Rights Management
Published on by Water Network Research, Official research team of The Water Network in Technology
The United States state of Colorado is examining the possibility of implementing blockchain to manage a database of water rights.
The corresponding bill was published on Colorado’s General Assembly website on Wednesday, Mar. 6. The assembly wants to learn whether blockchain can be used to establish and operate water markets, water banks and contribute to the general administration of the resource.
To proceed with the experiment, the institute is allowed to seek and accept donations from both public and private sources. In case the institute fails to raise funds necessary for the trial, it will be canceled, the bill states.
In February, IBM and sensor tech provider SweetSense partnered with non-profit organization The Freshwater Trust and the University of Colorado, Boulder to use blockchain and Internet of Things technology to sustainably manage groundwater. The trial will reportedly be conducted at one of the largest aquifers in North America, located in northern California's Sacramento-San Joaquin River Delta.
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