Connect with us

Tech

Using Blockchain Technology to Reduce Water Scarcity

BlockChainGuardian Staff

Published

on

Using Blockchain Technology to Reduce Water Scarcity

Much of the world takes water for granted. And much of the world has so little water that it’s a matter of life and death.

So how can we send water from surplus areas to those in need? This is the mission of Atlantis, a project dedicated to solving problems arising from climate change, focusing mainly on water. And they are trying to solve this problem using blockchain.

Irthu Suresh is a speaker at this year’s Consensus festival in Austin, Texas, May 29-31.

Atlantis is not just theoretical. In 50 villages in the Chikmagalur region of India, Atlantis implemented a Web3 solution that incentivized people to effectively transfer water from affluent to less affluent areas. A clever “bounty” system encouraged villagers to perform tasks that enabled this new distribution. And the pilot program worked. “We exchanged more than 21,000 kiloliters of water,” says Irthu Suresh, CEO of Atlantis.

Giving a preview of what he’ll be sharing in Austin at Consensus, Suresh explains why Atlantis adopted blockchain, the challenges they had to overcome for onboarding, and why he wants the world to know that Web3 isn’t just for trading but that ” we can use it to fight water problems, to fight poverty.”

The interview has been condensed and lightly edited for clarity.

Atlantis didn’t start out as a blockchain organization, but you eventually incorporated the technology. What brought you to this?

Irthu Suresh: We were trying to build solutions for climate change – primarily through water – as a Web2 company, but a private entity trying to build for the commons wasn’t really hitting a chord. And we ran into all kinds of challenges with existing power structures, from regulations to the unregulated mafia in India. It is very easy to ruin an idea if it is created by a private entity. All you need is a group of lawyers.

And that got us thinking, “How can my co-founder and I become insignificant over time as this system expands?” And this led us to consider decentralized distributed systems. We thought if it works, no one should be able to take it down.

Then we realized that there were people willing to collect additional water and then feed it into the network. This was creating further reserves of surplus resources. And we asked ourselves, “What if we could build the entire system on blockchain?”

So, what does it look like exactly?

In most of the world, things like water are heavily regulated. And you have these centralized grids. But as cities and spaces expand, these centralized grids often struggle to catch up.

But India is a great example of how it was built, historically, on decentralized communities. There are small pockets of villages that take care of their needs. It’s hyperlocal. So for us it was a no-brainer to bring some kind of concept that solves resource allocation problems.

There are some parts where water is abundant and no one cares. And there are other places where access to water is life or death. So for the pilot project, when we partnered with Mercy Corps Ventures, we chose a specific location in India where on one side of this hill there is plenty of water, and on the other side of the hill there is drought. And how could people in this region exchange excess water? How might we create the infrastructure itself locally? So, for our pilot program in Chikmagalur, a rural region with 50 villages, we started with people in different water-stressed areas.

Interesting. What did your system do?

We first asked local people to volunteer to spread awareness, then we asked local people to sign up to become water collectors. Once we had these harvesters and the rain was captured, there was an opportunity to trade it.

How does blockchain fit into all this?

We built the product on a native mobile app. On this app, everyone can create a profile, register and mention their skills first. And based on the skill, we start assigning tasks to you. And these tasks are more or less building this peer-to-peer water network.

You could take part in surveys, you could take part in water sample analysis, you could sign up as someone who wants to spread awareness through seminars, or you could become a collector. All these tasks are gamified; we call them rewards. People sign up and then go through the required steps and then get incentivized. We first knew that this required a tamper-proof distributed ledger, and we knew that blockchain is useful for this purpose.

Amazing. Can you quantify the impact so far?

Yes. We exchanged more than 21,000 kiloliters of water. The network has over 3,000 people and covers 50 villages. Of the 3,000, most are consumers who access the network to access water. But we have almost 150 harvesters in the network. And then we have a group of surveyors and validators.

What is a validator in this context?

Let’s say you go online and say, “Hey, I’m a reaper.” Then we put out a bounty for someone in the location to become a validator, to go to your house and just confirm that, “Hey, these guys have the infrastructure to do this.” So what’s happening, essentially, is we’re creating a bunch of green jobs locally. And all these different tasks are gamified using our bounty system.

What problems have you encountered?

One was off-ramp. Especially in India it is difficult to go off-ramp as the regulations are still in a gray area.

And then, starting from the first MVP that we designed, at the beginning of onboarding, every time we asked people to connect to a wallet, it didn’t work. Because people said, “What’s a wallet?” And I have received absolute training in UI and UX. We really needed to figure out when is the right place to introduce blockchain or Web3 terminology.

And we had to take additional steps to educate people about it. Because people say, “Oh, it’s cryptocurrencies.” That means it’s a scam.” And we’re like, “No, no, wait!” Right? Like, there’s so much more!

What tokens are you using to guide the mechanics?

We have an internal token, which we will launch one day. During the pilot project we actively used it. But seeing how the Web3 marketplace works, we firmly believe that unless we achieve strong product-market fit, launching a token makes no sense for us.

So we have integrated a mechanism where different tokens can be introduced into the platform. If someone wants to finance a water project in Africa using Solana, they can do it, while if someone wants to build a water project in Vietnam using Optimism, they can do it. We’ve really worked on the interoperability aspect because climate change doesn’t care which chain you’re on.

Well said. Last question: what are you most looking forward to from Consensus?

So, one of the biggest lifelines for our project was Bitcoin. And I know that Consensus is a great place to go and meet people who pioneered some of these technologies that we use today.

I hope we can come and talk about the things we’ve done with blockchain, which isn’t necessarily just DeFi trading. We really want people to know that, “Hey, we can use this to fight water problems, to fight poverty.” The idea of ​​distributed ledgers is extremely powerful. Many more people need to know that there are concrete examples of this.

Great feeling. Congratulations on what you’ve built and I’ll see you in Austin.

Fuente

We are the editorial team of BlockChainGuardian, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on BlockChainGuardian, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Tech

Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

BlockChainGuardian Staff

Published

on

Hollywood.ai by FAME King Sheeraz Hasan Promulgates a Complete Ecosystem that Unites Web3, Cryptography, AI and Entertainment for Spectacular Global Tech Innovation

The one and only FAME King Sheeraz Hasan is launching Hollywood.ai, a revolutionary platform designed to integrate the cutting-edge realms of Web3, cryptocurrency, AI, finance and entertainment. This revolutionary initiative is set to create a seamless, interactive and intuitive ecosystem where the world’s leading technology luminaries can collaborate on innovations, ultimately redefining the future of digital interaction.

Hollywood.ai represents the convergence of the most complex technologies of all time. Fusing Web3 principles, cryptocurrency utilities, AI advances, and financial machinery, Sheeraz’s platform aims to become the nucleus for innovation and modernization. It provides a high-tech environment where technology and creativity collide harmoniously, paving the way for new paths in the digital economy.

A defining feature of Hollywood.ai is the integration of cryptocurrency into the AI ​​ecosystem, transforming AI into a tokenized asset with full cryptographic utility. Sheeraz’s novel approach presents new avenues to leverage the myriad capabilities of AI in the financial realm, unlocking unprecedented opportunities for developers and users alike. Through the amalgamation of AI and cryptocurrency, Hollywood.ai is paving the way for an incredibly interconnected digital space unlike anything seen before.

The platform’s design emphasizes the undeniable symbiosis between various technology sectors. Under Sheeraz’s careful orchestration, Web3 technologies facilitate decentralized collaboration, while AI tools offer enhanced potential for data analytics, content creation, and audience engagement. Additionally, the inclusion of financial innovations ensures rapid mobility of both monetization and investments, providing a holistic environment that meets the ever-evolving demands of the technology and entertainment segments.

Sheeraz’s Hollywood.ai is poised to become the premier hub for industry leaders, developers, and creators to support and empower the next generation of digital experiences. This initiative aspires to drive the emergence of new tools, applications, and services that set new standards for advanced engagement and interaction.

Known for making the impossible possible, Sheeraz envisions a future where global audiences actively participate in designing the next A-list stars from scratch. Hollywood.ai will allow users to watch their creations evolve from simple concepts to 3D talents that can act, sing and perform just like human actors.

The Hollywood.ai platform leverages AI technology to deliver personalized fan engagement, real-time sentiment analysis, and informed content creation. By combining cutting-edge AI capabilities with Sheeraz’s deep understanding of celebrity branding, Hollywood.ai gains immense control over public figures.

Undeniably, FAME’s number one strategist Sheeraz Hasan continues to cement his reputation as a pioneer in the fields of FAME and technology. The power and influence of this latest development brings him closer to total world domination.

Fuente

Continue Reading

Tech

Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

BlockChainGuardian Staff

Published

on

Online Broker Futu Offers Cryptocurrency Trading in Hong Kong, With Nvidia and Alibaba Stock as Rewards

Futu Securities International, Hong Kong’s largest online broker, has launched retail cryptocurrency trading in the city, offering shares of Alibaba Holding Group AND Nvidia as a reward in an attempt to attract investors. Futu has begun allowing Hong Kong residents to trade Bitcoin and ether, the world’s two largest cryptocurrencies, directly on the brokerage platform using Hong Kong or U.S. dollars, the company announced Thursday.

The online retail broker said last month that it had received an upgrade to its securities license from the Securities and Futures Commission (SFC), allowing Futu to offer virtual asset trading services to both professional and retail clients in the city.

Futu’s move comes as Hong Kong seeks to boost its attractiveness as a business hub for virtual assets, with the city government launching a series of new cryptocurrency policy initiatives over the past two years, including a mandatory licensing regime for cryptocurrency exchanges.

In addition to offering cryptocurrency trading on its flagship brokerage app, Futu is also seeking a cryptocurrency trading license for its new PantherTrade platform. That platform is among 11 in Hong Kong that are currently “deemed licensed” for cryptocurrency trading, an arrangement that allows them to operate in the city while they await full approval from the SFC.

Hong Kong’s progress in becoming a crypto hub has encountered various challenges, including exit of the major global platforms and relatively low trading activity for cryptocurrency exchange-traded funds offered on local stock exchanges.

Futu is now offering a series of incentives to potential investors, amid a cryptocurrency bull market that has seen the price of bitcoin rise 45 percent this year.

Hong Kong investors who open accounts in August and deposit HK$10,000 (US$1,280) over the next 60 days can receive HK$600 worth of bitcoin, a HK$400 supermarket voucher or a single Chinese stock. e-commerce giant Alibaba. Alibaba owns the South China Morning Post.

By holding 80,000 U.S. dollars for the same period, users can get 1,000 Hong Kong dollars in bitcoin or a share of U.S. artificial intelligence (AI) chip maker Nvidia, whose shares have risen more than 140 percent this year.

A Futu representative said the brokerage firm will also waive cryptocurrency trading fees starting Thursday until further notice.

Futu is the first online brokerage in Hong Kong to allow retail investors to buy cryptocurrency directly on its platform. SFC rules require it to offer this service through a tie-up with a licensed cryptocurrency exchange. Futu is partnering with HashKey Exchange, one of only two licensed exchanges in Hong Kong, according to the representative.

Futu’s local rival Tiger Brokers also said in May that it had begun offering cryptocurrency trading services to professional investors on its platform following a license update. The SFC defines professional investors as those with more than HK$8 million in their investment portfolios or corporate entities with assets exceeding HK$40 million.

Fuente

Continue Reading

Tech

Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

BlockChainGuardian Staff

Published

on

Tech Crash: $2.6 Trillion Market Cap Vanishes as ‘Magnificent 7’ Prices Stumble

A group of seven megacap tech stocks, often called the Magnificent 7, have lost more than $2.6 trillion in value over the past 20 days, or an average of $125 billion per day over the period. In total, these stocks have lost “three times the value of the entire Brazilian stock market.”

This according to the economic news agency Letter from Kobeissiwho noted on the microblogging platform X (formerly known as Twitter) that the Magnificent 7 batch “is worth as much as Nvidia’s entire current market cap in 20 days,” with Nvidia itself having lost $1 trillion from its high.

Source:Letter from Kobeissi on the X

The group, which includes Nvidia, Microsoft, Amazon, Apple, Alphabet, Meta and Tesla, has undergone a significant correction: in the last 20 days Nvidia has lost 23% of its value, or about $800 billion, while Tesla has fallen 19%, losing $164 billion.

Microsoft, Apple, Amazon, Alphabet and Meta all posted losses of between 9% and 15%, losing between $257 billion and $554 billion in market capitalization, wiping out a total of $200 billion more “than every single German stock market tock combined.”

Tech titans, which have outperformed the broader S&P 500 index since the market bottom of 2022, are now facing a reckoning as investors grow increasingly wary about the sustainability of their meteoric rise, with Nvidia taking the lead soaring 110% since the beginning of the year and over 2,300% in the last five years.

Earnings reports from these companies, starting with Microsoft and culminating with Nvidia in late August, will be closely watched for signs of weakness. Their performance could set the tone for broader market sentiment, with implications for everything from cryptocurrency to other high-risk assets.

Their poor performance comes after a leading macroeconomist, Henrik Zeberg, reiterated his forecast of an impending recession that will be preceded by a final wave in key sectors of the market, but which can potentially be the worst the market has seen since 1929the worst bear market in Wall Street history.

In particular, the Hindenburg Omen, a technical indicator designed to identify potential stock market crashes, began flashing just a month after its previous signal, raising concerns about a possible impending stock market downturn.

The indicator compares the percentage of stocks hitting new 52-week highs and lows to a specific threshold. When the number of stocks hitting both extremes exceeds a certain level, the indicator is said to be triggered, suggesting a greater risk of a crash.

Featured Image via Disinfect.

Fuente

Continue Reading

Tech

Trump Fights for Cryptocurrency Vote at Bitcoin Conference

BlockChainGuardian Staff

Published

on

A large conference hall filled with enthusiastic attendees, Bitcoin logos prominently displayed, and a podium with an American flag

To the Bitcoin Conference 2024 In Nashville, Tennessee, former President Donald Trump delivered a keynote speech.

Trump, the Republican presidential candidate, used the platform to appeal to the tech community and solicit donations for the campaign. During the conference, He said:

I promise the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over… If we don’t embrace cryptocurrency and Bitcoin technology, China will, other countries will. They will dominate, and we can’t let China dominate. They are making too much progress as it is.

Trump’s speech focused heavily on cryptocurrency policy, positioning it as a partisan issue. He said that if reelected, he would fire SEC Chairman Gary Gensler on his first day in office, a statement that drew enthusiastic applause from the audience. This statement marked a stark contrast to Gensler’s tenure, which has been characterized by rigorous oversight of the cryptocurrency industry.

The former president outlined several pro-crypto initiatives he would undertake if elected. These include transforming the United States into a global cryptocurrency hub, keeping all government-held Bitcoin as a “national Bitcoin reserve,” establishing a presidential advisory council on Bitcoin and cryptocurrency, and developing power plants to support cryptocurrency mining, emphasizing the use of fossil fuels.

Trump’s current embrace of cryptocurrencies represents a reversal from his stance in 2021, when described Bitcoin as a “scam against the dollar.” He also noted that his campaign has received $25 million in donations since accepting cryptocurrency payments two months ago.

The event featured other political figures, including Republican Senators Tim Scott and Tommy Tuberville, as well as Democratic Representatives Wiley Nickel and Ro Khanna. Independent presidential candidate Robert F. Kennedy Jr. also spoke at the conference.

Trump’s appearance at Bitcoin 2024 reflects growing support for his campaign from some tech leaders, including Tesla CEO Elon Musk and cryptocurrency entrepreneurs Cameron and Tyler Winklevoss.

While Trump has described the current administration as “anti-crypto,” Democratic Congressman Wiley Nickel said Vice President Kamala Harris is taking a “forward-thinking approach to digital assets and blockchain technology.”

This event underscores the growing political importance of cryptocurrency policy in the upcoming presidential election.

Kamala Harris and Democrats Respond on Cryptocurrencies

In a strategic move to repair strained relations, Vice President Kamala Harris’ team has initiated a dialogue with major cryptocurrency industry players. This outreach aims to restore the Democratic Party’s stance on digital assets and promote a more collaborative approach.

THE Financial Times reports that Harris’s advisors have reached out to representatives from industry leaders like Coinbase, Circle, and Ripple Labs. This move comes as the cryptocurrency community increasingly supports Republican candidate Donald Trump, reflecting growing dissatisfaction with the current administration’s cryptocurrency policies.

THE disclosure follows a letter from Democratic lawmakers and 2024 candidates urging the party to reevaluate its approach to digital assets. Harris’s team stresses that this effort is less about securing campaign contributions and more about engaging in constructive dialogue to develop sensible regulations.

The move is part of a broader strategy to reshape the Democratic Party’s image among business leaders, countering perceptions of an anti-business stance. Harris’ campaign aims to project a “pro-business, responsible business” message.

Fuente

Continue Reading

Trending

Copyright © 2024 BLOCKCHAINGUARDIAN.NET. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.