Tag: water

NABSAMRUDDHI’s ‘Climate Ready WASH’ awareness campaign to cover 40 block-level camps in vulnerable areas

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Commemorating World Water Day, NABARD, along with its NBFC subsidiary NABSAMRUDDHI, has launched the first phase of a nationwide funding awareness campaign — ‘Climate Ready WASH’ — for women joint liability group (JLG) borrowers of microfinance institutions, to take forward the common mandate of sustainable rural development.

To kickstart the campaign, an event was organised at NABARD Mumbai inaugurated by Shaji KV, Chairman, NABARD.

Emphasising the criticality of water availability for the marginalised segments, Shaji KV in his address talked about the need to focus on impact rather than returns to support them, a statement said.

“Water is a public good but the water balance is changing due to climate change. It is the most marginalised who face the brunt of climate risk and their livelihoods are getting affected,” the official said.

He noted that the public finance institution is eyeing innovative solutions to support the most needy segment in partnership with the Panchayati Raj institutions, civil society organisations and government agencies to create a larger impact.

“Awareness generation is key to such solutions,” he said, adding that NABSAMRUDDHI has piloted the ‘Climate Ready WASH’ programme under which the campaign to create awareness among end borrowers has been kick-started.

“The mainstreaming of the initiative will help address these challenges as well,” he added.

To promote sustainable livelihoods, NABSAMRUDDHI has been offering concessional wholesale WASH loans by utilising NABARD refinance along with technical assistance from its partners Water.org and FINISH Mondial.

Through 32 partner institutions, the NBFC has so far contributed $45 million in WASH funding, reaching 75,000 end borrowers, 90% of whom are women, the statement read.

The ‘Climate Ready WASH’ campaign will cover 40 block-level camps in climate-vulnerable areas across seven states in the country in Phase I through FINISH Mondial.

Emphasising the need for collaborative action in funding the last mile segment, Bonani Roychoudhury, NABSAMRUDDHI MD underscored COP27 and COP28 declarations on climate-resilient WASH.

“Financing such solutions is expected to result in climate risk mitigation and adaptation for the vulnerable and augment health, productivity, incomes, quality of life of rural women while addressing the issues of gender equity, empowerment, safety and dignity,” Roychoudhury said.

Among the products to be covered for financing will include majorly these solutions — climate smart toilets, rainwater harvesting for borewell recharge, rainwater harvesting for storage and solarisation of pumps.

At the event, an MoU was also signed between NABSAMRUDDHI and the Climate Policy Initiative (CPI) to collaborate on financing climate-smart solutions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

World Water Day 2024: From fixing faucets to taking shorter showers, steps to conserve water

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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World Water Day, observed annually on March 22, serves as a reminder of the importance of this natural resource. This United Nations Observance is not merely a date on the calendar; it is a call to action, urging global citizens to recognise the vital role water plays in our lives and to take concrete steps to address the pressing issue of its scarcity and inequitable access. The essence of World Water Day lies in understanding water as a life-sustaining resource and recognition of over two billion people worldwide who lack access to safe water.

World Water Day also aims to fulfil Sustainable Development Goal 6, which is to ensure the availability and sustainable management of water and sanitation for all by 2030.

The Global Water Crisis

The global water crisis is a pressing issue that affects billions of people. According to the United Nations, approximately 2.2 billion people worldwide do not have access to safely managed drinking water services. This lack of access not only affects people’s health but also hinders economic development and perpetuates poverty.

Why is water Important?

Water is essential for life. From supporting ecosystems and agriculture to being a vital resource for industries and households, water is needed in every sphere of life.

Here’s why water is important:

Drinking water: Freshwater is essential for human survival. It is the primary source of drinking water for communities around the world. Access to clean and safe drinking water is crucial for maintaining public health and preventing waterborne diseases.

Agriculture: Freshwater is used for irrigation in agriculture, which is essential for growing crops. It accounts for the majority of global freshwater use. Without freshwater, agricultural productivity would decline, leading to food shortages and hunger.

Ecosystems: Ecosystems such as rivers, lakes, and wetlands, are home to a diverse range of plant and animal species. These ecosystems provide habitats, food, and other essential resources for wildlife. They also help regulate water quality and support the overall health of the environment.

Industries: Water is used in various industrial processes, such as manufacturing, energy production, and mining. It is also used for cooling purposes in many industries. Without water, these industries won’t operate effectively.

Hygiene and sanitation: Water is essential for maintaining hygiene and sanitation. It is used for washing, cleaning, and sewage disposal. Access to freshwater is crucial for preventing the spread of diseases and improving overall public health.

Ways to save water

As individuals, there are several simple steps we can take to contribute to water conservation efforts:

Reduce water waste: Fix leaks in faucets and pipes, and avoid leaving taps running unnecessarily.

Use water-efficient appliances: Invest in water-efficient appliances such as low-flow toilets and showerheads.

Be mindful of water usage: Take shorter showers, turn off the tap while brushing your teeth, and only run the dishwasher and washing machine with full loads.

Collect rainwater: Install a rain barrel to collect rainwater for outdoor use, such as watering plants or washing your car.

Support water conservation initiatives: Get involved in local water conservation efforts and support organisations working to provide clean water to those in need.

By raising awareness and taking action to conserve water, we can all contribute to ensuring that this vital resource is available for future generations.

Theme

In 2024, the theme of World Water Day is Leveraging Water for Peace. This theme highlights the transformative power of water as a tool for peacebuilding and conflict resolution. Water is believed to have the potential to foster cooperation and collaboration among nations and communities, and promote unity.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Water Wars | 1 in every 5 murders in India due to conflict over water: UN Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The United Nations Office on Drugs and Crime (UNODC) in its Global Study on Homicide Report 2023 said that one in every five murders in India between 2019-21 is due to water-related conflicts. “Nearly 20 percent of all interpersonal murders recorded in India in the period 2019–2021 can be attributed to conflict over water,” the report said.

The report added that disputes over access to water in India are a prominent driver of interpersonal homicide outside the family. Moreover, data from the Pacific Institute showed that the number of incidents of violence associated with water resources has risen substantially since 2015 — mostly in South Asia, Sub-Saharan Africa and Central America.

“Interpersonal homicide outside the family is challenging to systematically quantify due to limited information on the victim-perpetrator relationship and situational context. Instances can arise in communities facing threats to livelihoods, resulting in strained relations. Land disputes, often driven by insecure land tenure, can also contribute to violence.”

Source: Global Study on Homicide Report 2023

The UN report cited population growth, economic expansion and climate change as the primary reasons for water security in many regions of the world, which in combination with other societal and political factors, has led to increased violence associated with water disputes in recent years.

The media across the country have reported several cases of fighting over water, some of which have proved fatal. For example, a famous case of South Delhi came into limelight last year when a 45-year-old woman was stabbed to death by his neighbour over filling water from a community tap.

In another case that turned into an internet sensation then, a 60-year-old elderly man was beaten to death by five people after he intervened in a fight over tanker water. The Wazirpur area in the national capital is known for facing water related issues, especially in the summer, due to irregular supply.

“They beat up my father. He fell to the ground, and they rained punches on him. He started bleeding from the mouth. Nobody intervened except for our family,” his son Rohit alleged.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NASA finds life-critical water and carbon in samples collected from asteroid Bennu

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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NASA on Wednesday revealed that its first asteroid samples, which were delivered last month by a spacecraft, contained abundant water and carbon. The sample from the 4.5 billion-year-old asteroid Bennu provides more evidence for the theory that life on Earth was seeded from outer space, the news agency AFP reported.

“NASA asteroid sample contains life-critical water and carbon. The discovery follows a seven-year-round-trip to the 4.5-billion-year-old asteroid Bennu,” the news agency tweeted.

NASA asteroid sample contains life-critical water and carbon.

The discovery follows a seven-year-round-trip to the 4.5-billion-year-old asteroid Bennuhttps://t.co/Zw2mEwtNM6 pic.twitter.com/V8XJ43EDtV

— AFP News Agency (@AFP) October 12, 2023

At Johnson Space Center in Houston, on Wednesday, NASA scientists for the first time showed the samples of the asteroid, which was received in September.

“Initial studies of the 4.5-billion-year-old asteroid Bennu sample collected in space and brought to Earth by NASA show evidence of high-carbon content and water, which together could indicate the building blocks of life on Earth may be found in the rock,” NASA said.

This finding was part of a preliminary assessment of NASA’s OSIRIS-REx (Origins, Spectral Interpretation, Resource Identification and Security–Regolith Explorer) science team, the US space agency said.

According to NASA, the sample is the biggest carbon-rich asteroid sample ever delivered to Earth, which will help scientists investigate the origins of life. It is the third asteroid sample following two similar missions by Japan’s space agency in 2010 and 2020.

The total sample is present in both organic and mineral form while the water has been found to be locked inside the crystal structure of clay minerals.

“The bounty of carbon-rich material and the abundant presence of water-bearing clay minerals are just the tip of the cosmic iceberg. These discoveries, made possible through years of dedicated collaboration and cutting-edge science, propel us on a journey to understand not only our celestial neighbourhood but also the potential for life’s beginnings,” said Dante Lauretta, OSIRIS-REx principal investigator, University of Arizona

The collection of the asteroid sample is a joint mission undertaken by NASA and the University of Arizona.

According to NASA, for the next two years, the mission’s science team will continue characterising the samples and conduct the analysis needed to meet the mission’s science goals. The space agency will preserve at least 70% of the sample at Johnson Space Center for further research by scientists worldwide.

The capsule and its contents were initially examined in a clean room at the Utah Test and Training range near the landing site of the asteroid. Following the initial examination, it was then sent to the Johnson Space Center where its inner canister has been opened to obtain the samples and has been parcelled in smaller specimens to around 200 scientists in 60 laboratories across the world.

Asteroid Bennu is said to be a relic of the early solar system as the current chemistry and mineralogy of it has been virtually unchanged since the date of its formation around 4.5 billion- years ago. Scientists believe that it holds the history of the origins and development of rocky planets such as Earth.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Chhattisgarh: Officer drains out 21 lakh litres of water from reservoir to find lost phone

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A Chhattisgarh government official has been suspended following allegations that he pumped out millions of gallons of water from a reservoir over three days to retrieve his cell phone, he dropped accidentally while taking a selfie.

Rajesh Vishwas, a food inspector from the Koyalibeda block in Kanker district visited the Kherkatta Paralkot reservoir on Sunday to enjoy his day off, but his trip went for a toss when the officer dropped his Samsung S23 smartphone, said to be valued around Rs 96,000, into the reservoir.

In a state of panic, Rajesh approached the Irrigation Department for assistance in retrieving his phone. Together, they planned to drain the reservoir’s water, according to reports. The water, meant for irrigation purposes, was eventually drained using a 30-horsepower pump. Over the course of three days approximately 21 lakh liters of water was drained from the reservoir. The drained water was originally meant to irrigate over 1,500 acres of land.

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After discharging 41,104 cubic meters of water from the dam, the phone was finally recovered. However, it could not be repaired due to being submerged for an extended period. When questioned about his actions, Vishwas claimed that the water being pumped was wastewater unsuitable for irrigation. He justified his actions by stating that the phone contained personal and important contacts.

Vishwas mentioned that he had received verbal permission from the Kanker Irrigation Department’s sub-divisional officer to empty 3-4 feet of water from the section of the dam where wastewater was stored.

“A verbal permission was given by the Kanker Irrigation Department’s sub-divisional officer to empty 3-4 feet of water. It was part of the dam where wastewater was kept which was unfit for irrigation. The water was emptied with a diesel pump at a cost of Rs 7,000-8,000. No farmer was affected by my action.” Vishwas said.

However, the Deputy Officer of the Irrigation Department, Ram Lal Dhivar, stated that permission had only been granted to drain the water to a depth of five feet, but the water level had been reduced by more than 10 feet, resulting in significant waste of irrigation water.

The incident has raised debate over Twitter, where several users have criticised the government officer for misusing the resource.

Also Read: Water levels in country’s reservoirs at 54.58 billion cubic metres: CWC

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

World Water Day 2023: Innovative ways for sustainable water management

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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World Water Day is observed every year on March 22 with an aim to raise awareness about its importance and conservation. The primary focus of World Water Day is to support the United Nations’ Sustainable Development Goal 6, which aims to ensure safe water and sanitation for all by 2030.

2023 theme

“Accelerating the change to solve the water and sanitation crisis” will be the theme for World Water Day 2023.

The theme emphasises the necessity to take more aggressive steps to address the global water crisis and fulfil international commitments on water-related sustainable development goals.

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History and significance

The idea of World Water Day was first introduced in 1992 during the United Nations Conference on Environment and Development in Rio de Janeiro.

The same year, the UN General Assembly adopted a resolution and declared March 22 as World Day for Water and the observation of the event started the next year, in 1993.

World Water Day serves as a reminder to the world to take action to tackle the global water crisis. The day encourages people to help in addressing critical water issues, and coordinate various international activities.

Innovative ways for sustainable water management

Rainwater harvesting

Rainwater harvesting is simply the process of conserving rainwater by collecting, storing, and purifying rainwater that runs off from rooftops, parks, roads, open grounds, etc. for later use. Rainwater harvesting systems consist of various components like catchment devices, conveyance systems to transport the harvested water, filters to clean collected rainwater, tanks and recharge structures to store the filtered water.

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Aerators

An aerator is a small attachment device that either fits onto the end of a tap or it is inserted inside of a spout. These water-saving devices control the amount of water that flows through the tap and maintain water pressure by mixing air with water. This reduces the amount of water flow while maintaining the same effect of high-pressure water flow.

IoT Meters

Smart water meters enabled by the Internet of Things (IoT) help water consumers to track their exact water usage and control it as per demand.

These water meters help reduce water loss and allow the water distribution network utilities to track and manage the demand for water.

Some IoT-enabled water meters also help in testing the quality of water and detect if there are any pollutants present in water.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Water on Earth found to be billions of years older than previously thought, may be older than our Sun

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Astronomers using the Atacama Large Millimetre/submillimetre Array (ALMA) have detected gaseous water in the planet-forming disc around the star V883 Orionis, which is located about 1300 light-years away from Earth.

The discovery supports the idea that water on Earth is even older than our Sun, suggesting that the origins of water in our Solar System can be traced back to before the formation of the Sun.

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The study, published in Nature, found that the water in the V883 Orionis disc contained at least 1200 times the amount of water in all Earth’s oceans. The water carried a chemical signature that explained the journey of water from star-forming gas clouds to planets, and the team was able to trace when and where the water was formed using a slightly heavier version of water where one of the hydrogen atoms is replaced with deuterium – a heavy isotope of hydrogen.

Observing the gaseous water turned out to be tricky, as most of the water in planet-forming discs is frozen out as ice, making it hidden from view. However, the V883 Orionis disc was shown in a recent study to be unusually hot, and a dramatic outburst of energy from the star heats the disc, “up to a temperature where water is no longer in the form of ice, but gas, enabling us to detect it,” said lead author John J. Tobin, an astronomer at the National Radio Astronomy Observatory in the US.

The discovery is significant because the journey of water from clouds to young stars, and then later from comets to planets, has previously been observed, but until now the link between the young stars and comets was missing.

“V883 Orionis is the missing link in this case,” said Tobin. “The composition of the water in the disc is very similar to that of comets in our own Solar System.

This is confirmation of the idea that the water in planetary systems formed billions of years ago, before the Sun, in interstellar space, and has been inherited by both comets and Earth, relatively unchanged.”

The team’s observations and findings demonstrate the sensitivity and ability of ALMA to detect and determine the composition of gaseous water, as well as map its distribution within the disc.

The detection of water in the V883 Orionis disc provides new insights into the origins of water in our Solar System and supports the theory that water on Earth is older than our Sun.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

New study finds evidence for many planets made of water, rock orbiting small stars

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In the search for extraterrestrial life, scientists have been looking for signs of water on exoplanets, satellites and more. But, a new study suggests that scientists may have been looking at the wrong place all this while. Instead of being found in oceans, rivers or lakes, water could be hiding within rocks.

“It was a surprise to see evidence for so many water worlds orbiting the most common type of star in the galaxy. It has enormous consequences for the search for habitable planets,” said Rafael Luque, a postdoctoral researcher at the University of Chicago and lead author of the study published in the journal Science.

More and more planets in the recent past have been discovered to contain water through rapid advancements in telescopic instruments and other scientific instruments. But, most of the presence of water has been found embedded within rock.

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Luque and fellow author Enric Palle of the Institute of Astrophysics of the Canary Islands and the University of La Laguna, Spain, took a look at planets around the same class of stars as the Sun.

However, observing planets around distant stars can be incredibly difficult due to the sheer disparity in brightness and size between the stars and planets.

When the two scientists conducted the population study of the 43 planets using modern advanced telescopes, they found that a large percentage of these planets were made out of a significant portion of water by weight.

While these planets do not have large water bodies like oceans, scientists instead estimate that most of the water is found embedded within rocks on these planets.

Another possibility is that water may be found under the surface of these planets, much like it has been theorised to exist on moons like Europa, Ganymede, Titan and Enceladus.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Thanjavur: Delay in Cauvery water release puts paddy cultivation at risk

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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There is a new threat to global food security, and it stems from fears that India’s rice cultivation may not meet expectations. These apprehensions come even as RBI Governor Shaktikanta Das highlighted the shortfall in paddy sowing, although buffer stocks remain above par. However, the question remains: what ails India’s paddy crop?

In Thanjavur, a town in East-Central Tamil Nadu, the Kuruvai cultivation is about to end. The Tamil word refers to a short-term harvest that takes place over a four-month period between May and August.

During this season, 3.2 lakh acres of paddy are sown along the banks of the River Cauvery in this region, better known as of one of India’s biggest rice bowls. This year, water from the Cauvery didn’t make it to these fields on time, leaving the cream of the crop to wither away.

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On average, the Kuruvai Crop sown in the Cauvery Delta, has a lifecycle of 120 days, 80 of which require water in abundance. The problem is that it also precisely during this period that the water needed for crops collects in catchment areas within Karnataka.

By the time water is released to Tamil Nadu’s agrarian districts, it is available for only about 30 days — at irregular, unpredictable intervals. The delay spells disaster for Tamil Nadu’s paddy fields, many of which do not have the support of artificial irrigation systems.

“In some places our paddy seedlings were charred because there was not enough water to keep it alive till the harvest,” says TP Sukumaran, a Thanjavur-based farmer, “Today, water is being released in the Cauvery because of surplus rainfall in Karnataka, but it’s of no use and ends up being let into the sea”.

The signs of wilting grain are ubiquitous. A herd of cattle grazes on dead paddy crop strewn along several dry tracts of land, as a farmer helplessly gestures at his two acres laid to waste. With the Cauvery aqueducts staying dry for two months, Rajavel won’t sell any paddy this year.

The fact that crop insurance does not cover the Kuruvai harvest because of the risks involved is salt on his wounds. “We suffered major losses on the Kuruvai harvest last year as well, but we haven’t received any insurance pay-out yet,” he says, “We have paid up all our premiums and are repaying our crop loans till date”.

To get around the problem, some farmers tried to delay sowing their paddy. But other factors like the onset of the North East Monsoons have ruined their harvest. Then there are rules — like the Paddy Procurement Policy which mandates that crops brought to procurement centres not have more than 17 percent moisture.

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That is near-impossible once monsoons set in, which means many of the sacks that make it to these centres are rejected. “An acre can supply us 40 sacks of rice, but today we just about manage 30 bags because of damage due to rains and rejected stocks,” says G Swaminathan, a farmer from the Cauvery Delta region.

“The North East Monsoon comes at the time of harvesting the Kuruvai,” says Swamimalai Vimalnathan, Secretary of the Cauvery Delta Farmers Protection Association. “We are facing problems because we are not able to bring the grain from the fields to the direct purchase centres,” he adds, “We are losing our grains”. 

Farm associations say the only way forward is if the government intervenes to get Cauvery water released on time. The Supreme Court ruling on the Cauvery crisis between Karnataka and Tamil Nadu mandates that 177 thousand million cubic feet (TMCFT) of Cauvery water be released into Tamil Nadu every season, but Karnataka claims this can’t happen unless its own reservoirs fill up first.

Harvesters now want lift and tunnel irrigation channels, to save the crop. “The water disputes act is very clear — the tail-end area beneficiaries should be given priority,” says Vimalnathan, “But that is not happening”.

The Tamil Nadu Government has not committed to state-level intervention, but has promised compensation for farmers with crop losses.

“As things stand today, the Kuruvai sowing and transplanting process has come to a close,” says MRK Panneersevlam, Tamil Nadu’s minister for agriculture and farmer welfare, “We understand there are issues with insurance pay-outs for certain farmers, and are looking at compensating them through the disaster relief route”.

The assurance still does not address the delay in release of Cauvery water. This season, the area under paddy cultivation in the Cauvery Delta has increased from 3.2 lakh acres to 5.2 lakh acres. This only means that the stakes are higher than ever before, especially since the uncertainties have not diminished in any fashion.

Also read: Paddy acreage down 13% so far this kharif season; oilseeds, coarse cereals area up

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

South Africa-based H2O Water Securities launches world-first crypto water token, receives $150M investment from GEM

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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H2O Water Securities, a South Africa-based company that combines finance, infrastructure and expertise in the deployment and operation of water plants, has launched a world-first crypto water token.

As per the company, globally, more than two billion people — almost 30 percent of the world’s population — live in water scarce conditions and this number is expected to increase to 50 percent of the population by 2030.

Compounding the problem is a lack of funding for water infrastructure. The global funding gap for water infrastructure could exceed $18-trillion by the end of 2030, as highlighted by a 2016-18 OECD report.

The crypto token, ‘H2ON’ (Water Network) is simply a means to raise capital to finance global water projects. H2ON has already attracted investment of $150 million from GEM Digital, a digital asset investment firm based in the Bahamas that invests in utility tokens listed on over 30 centralised and decentralised exchanges around the world.

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“The focus with the H2ON token is mainly on the financing of water projects internationally and not so much on the technical engineering and construction of such projects,” said Julius Steyn, CEO and founder of H2O Holdings.

It will be listed on global cryptocurrency exchange Bitmart on Monday. It will be available on secondary markets by Thursday, allowing people to invest in water infrastructure. The token has been available on decentralised cryptocurrency exchanges for the past few months.

“Our initial decentralized listing provided us with proof of great interest in the concept of a digital H2O Securities token. With an initial listing price of about $0.75 and a trading volume of $100 000, it increased to $5.00 within just a few hours and exceeded $11.00 in less than 24 hours later. During the initial listing stages, it was the fastest growing token globally and peaked at a trading volume of over $450,000 in 24 hours. The initial listing was tracked on Coin Market Cap (CMC) and the debut Centralized Exchange listing will also be tracked by CMC,” added Steyn.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow