The First Blockchain Asset Backed by Water Rights
The A R Foundation LLC has announced the launch of the AQUA Rights platform. The first water rights backed asset utilizing Blockchain technology. The foundation will utilize Ethereum's Smart Contracts technology to create less volatile asset backed tokens. Thus creating a new digital asset backed by water rights, removing the financial barrier to ownership entry and can be exchanged on a global scale.
The recent devastating drought in the U.S. has taught us a valuable lesson: Water isn’t as plentiful as people think. Water scarcity is a global theme and contributors with deep pockets and private equity funds continue to plow more money into water rights. Worldwide, the water sector is a $500 billion USD industry and growing. In the next 25 years, up to $25 trillion could be spent on global water according to the Global Water Fund. There is a growing demand for a fixed amount of water. Now is a great time to contribute in water as people rethink how they use water and how much they need.