Everything about CryptoWater
CryptoWater is a sustainable water transparency startup project backed by blockchain timestamps. The idea was born in 2017. MVP was released and showcased in march 10th, 2018. Project gained recognition in 2019 and was awarded an international award "Responsible towards water" at the annual Bled Water festival held in Bled, Slovenia. Founder is now taking the MVP into a fully functional product in a form of micro scale water bottling facility.
On Friday, June 14 2019, international awards were granted at the closing ceremony of the 2019 Bled Water Festival.
RESPONSIBLE TOWARDS WATER: Individual Award was granted to CryptoWater project founder Jure Pirc for the project Cryptowater.si – Water on Blockchain.
|First water hash on AqauriusCoin blockchain|
Project in-depth analysis
Water is the most valuable resource on the planet. Cryptowater is using blockchain to timestamp water when it's bottled. Crypto water is combining two different worlds. Crypto and water world. With blockchain technology the project will hash and timestamp every bottle filled by the future formed company. That's how the consumer will know exactly when and where the bottle was filled. To check water quality, a centralized open source platform will be created along with a user friendly mobile application.
Water quality and relevant telemetry data will be uploaded to a decentralized Interplanetary file system (IPFS) public cluster network and accessed on demand using IPFS file hashes. Water will be filled in specially designed glass bottles produced by leading slovenian hight quality glass manufacturer Steklarna Hrastnik. Glass bottles can be recycled or reused and no waste will be created with plastic bottles.
Every single bottle will be filled in Slovenia and hashed/time stamped on a public blockchain ledger by the company. The first demo/MVP bottles have been timestamped on open source public ledgers AquariusCoin, LanaCoin and TajCoin. Why not just use Bitcoin for example, why these alternative blockchains. The timestamping process requires sending a small or large amount of cryptocurrency to a public address associated with the water bottle and with that comes a cost in a form of transaction processing fee. Transaction fees on popular blockchains can become a costly venture plus Bitcoin has found its place as a store of value and is often mentioned as digital gold. This doesn't mean at CryptoWater we will not use Bitcoin network for water timestamps in the future. If time and resources will allow, we may even experiment with Lightning networks.
The second factor why an alternative blockchain is more suitable for waterhashing is the speed of transaction block generation. With Bitcoin for example, the transaction will take 10min or more to be included in the blockchain. With an alternative blockchain ledger, the time for first block confirmation is as short as 1-2 minutes, while transaction fees on a young open blockchain network cost less than a penny. Waterhash will be put on blockchain where no one can change the transactional data. That’s why this label will be unique and trustworthy and all the cryptocurrency sent the the bottle public address will be redeemable by the water bottle recipient in a form of a simple private key sweep.
Slovenia is one of the most water-rich European countries, and it also boasts potable water of incredible quality. They say that clean tap water is a true sign of prestige nowadays. Drinking water with special properties and effects is also available in other places in Slovenia – at sources which have their own history.
CryptoWater team kindly invites all interested parties to come and say hello on any of our channels in the links below:
|Block Explorer: etherscan.io/token/0x13Ca8eb6405cFbE2eaE5D00207651002083fbc9d|
|Youtube: CryptoWater.si Video Introduction|
|Bitcointalk: CryptoWater $C2O|