The startup Aquaoin is developing a blockchain solution for the water industry. The objective is to help clean up the water industry and reduce the number of deaths globally that occur due to unsanitary water.
According to the World Health Organization (WHO) and UNICEF, some 6,000 children die every day from waterborne illnesses. Furthermore, as it reports, 1.1 billion people do not have safe water and 2.6 billion suffer from inadequate sewerage. The principle cause of death is from diarrhea, a waterborne disease. The most common cause is an infection of the intestines due to a virus, bacteria, or parasite — a condition also known as gastroenteritis.
Much of the problem, according to the startup Aquaoin, lies not in a lack of technology, but due to the funding mechanisms and business processes required to treat more water. Aquaoin state this is where the blockchain and tokenization can significantly alter the way the water industry operates.
With the scheme, anyone willing to participate in an ICO will have the opportunity to purchase tokens and then to reinvest those tokens in the water projects they believe in.