SA company launches world-first digital token for water projects

Expects to drastically cut the lead times for bringing water projects on stream by making it far quicker and easier to get funding. 

In what is rated as a world first, the SA-based H2O Water Network listed the H2ON token on two exchanges on Thursday, aiming to unlock billions of dollars worth of funding for water projects around the world.

The token traded at between $1.30 and $1.40 on Thursday, before settling at $1.14 by Friday morning. The tokens are listed on the Bitmart and ApeSwap exchanges.

The project is the brainchild of Exchange Trust Settlement Services, led by private equity veteran Julius Steyn, and a team of investment bankers, as well as blockchain and water specialists.

Steyn was previously involved in re-engineering water plants in Saudi Arabia that resulted in cost savings of $140 million in the first year.

He was also part of the team that set up Old Mutual Bank as well as online bank Twenty20, which was eventually sold to Standard Chartered.

SOURCE

Taxonomy

• Finance
• Project Financing
• Project Finance

1 Comment

1. Would like to try this for our Project in Portugal ... how do we get more information

   1 Comment reply

   1. H2O Water Securities has just created the first water token in the form of a cryptocurrency. The water network (H2ON) was created to fund projects worldwide that address the important issue of water scarcity.

      Through a pooled fund, which has already accumulated close to $150 million, this South African company aims to transform the way water projects are financed globally using blockchain technology.

      According to research by H2O Water Securities, more than 30% of the world’s population already “lives in water-scarce conditions” and, over the next eight years, the planet could suffer a catastrophe. The company wants to alter the narrative because it recognizes that a significant lack of project funding exacerbates the problem. The main objective of the H2ON currency, according to the company’s CEO Julius Steyn, is to finance natural projects beyond engineering and technical construction.

      H2ON goes a step further by listing on a centralized market after previously listing on decentralized platforms. Steyn notes that H2ON had a volume of just $100,000 and was trading at $0.75 when it began trading on decentralized exchanges. However, within hours, the token’s value skyrocketed to $11 in less than a day, making it one of the fastest-growing tokens in the world.

      According to the article, GEM Digital, the investment firm behind H2O Water Securities, will hold H2ON tokens to direct funding for water projects in places that lack the necessary infrastructure.

      Undoubtedly, the use of blockchain technology in the fight against climate change has the potential to be very beneficial. In this case, a currency is being introduced to finance new businesses and attract a completely different clientele than the traditional one. So as we move closer to our goal of reducing CO2 emissions by one billion tons by 2030, we at GreenTrade are striving to incorporate blockchain technology and develop the potential for new decentralized financial products. https://www.gemdigital.com/, https://h2o-securities.com/ 

      H2O Securities A Division of Exchange Trust Settlement Services (Pty) Ltd (ETSS)

      1st Floor Willowbridge Centre Carl Cronje Drive, Cape Town, 7530, South Africa  +27 87 703 0422