Demystifying Blockchain for Water Professionals: Part 1
As professionals who work in the multidisciplinary water sector, we need to be aware of what new technologies are available, and how they can help us achieve our vision of a water wise world. The High Level Panel on Water have now put forward their Agenda for Water Action, and have highlighted the need for innovative technologies that can resolve the gaps in water data quality, quantity and access. The HLPW propose that "an ambitious global framework is needed to enable public and private sector actors to cost effectively access and use water and hydro-meteorological data.”
By now, chances are that you have heard some of the increasing buzz around blockchain technology. The self professed "most significant technological advance in modern history” is worth investigating more deeply and this series intends to introduce the basics of blockchain and its potential in the sector, particularly with regards to the framework proposed by the HLPW for water data. Understanding blockchain basics can help inform us about applications for this technology across the industry for data verification, communication, exchanges, public participation, transparency, payments and more. Future blogs will dissect different aspects of blockchain technology, using examples of applications, but here I will cover the basics.