Water systems are growing old and inefficient. A select few providers have a monopoly on water services, and aging pipe networks are expensive and slow to clean and repair—which deteriorates water quality and accessibility over time. Waterig will counter this by gradually decentralizing urban water, energy, and food resources with a network of hubs and incentivized contributors.
These hubs harvest renewable solar and waste energy, and then use this energy to capture and treat water or power nearby food facilities. To further support decentralization, Waterig’s network is backed by a blockchain system that supports crowdfunded hub micro-ownership and facilitates the exchange of surplus energy, water, and food.
- Centralized water systems have a higher leakage rate, with 15 to 20 percent of total consumption wasted because of poor pipe infrastructure.
- 70 percent of countries reported to UN Water that tariffs do not cover the costs of operation and maintenance of water services, risking declining service levels.
- Service providers have a monopoly on water, with a global cost of water and wastewater management of US $540 billion per year.
- Round 1 team for the Water Abundance XPRIZE
- Hardware prototype installation and technology with different partners in southeastern China
- Shift Waterig from a hardware focus to a platform focus
- Develop a blockchain system and exchange platform that can incentivize localized water and food production and facilitate peer-to-peer water and food trading
- Develop a detailed business plan
Waterig currently partners with:
- Chinese U. of Hong Kong’s Agrobiotechnology LabVertical farm in Hong Kong
- Additional team members: technical, business development, sustainability expertise, and water industry
- Technical and legal advisors for blockchain work
- Partnership with decentralized water production operators
- Additional partner sites that could benefit from decentralized water or energy supplies
Hong Kong, China
China; Hong Kong
- Patrick Suen Chief Executive Officer, Waterig