Category Archives: California blockchain news

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Thirsty California Seeks Blockchain-Based Water Solutions

California

California, a state known for the divisive nature of water politics courtesy of the omnipresent danger of a drought, is now looking to implement a blockchain solution to alleviate the crisis to some extent.

California’s research organization, Pacific Institute has opened a nonprofit called The Freshwater Trust in collaboration with IBM and SweetSense to create a water management project employing a blockchain-based system. The system aims to install Internet of Things (IoT) sensors across water pumps around the Sacramento San Joaquin River Delta to track groundwater usage in real-time. The aim is to monitor and manage the water supply and incentivize responsible usage by agricultural and business users to ease pressures on the water table.

The aquifers in California are depleting fast due to intensive farming and heavy industrial usage; at a rate that cannot be replenished through natural resources, making conservation the key in resolving the problem. The IoT sensor-based solution will track levels of groundwater sucked by individual pumps, and then it will upload the data via satellite to IBM’s blockchain without any internet connectivity. The data will be used to calculate and grant water credits as per the usage, which will allow its owner the right to pump a set volume of groundwater. Similarly, if people need less water for some reason, they can treat these water credits as an asset and sell them for profit.

This could be great for streamlining the distribution of already scarce water resources as per the consumers’ customized needs, as the AI-backed blockchain system could recognize the potential water credit trading opportunities and notify administrators and relevant businesses.  It also gives the consumers an incentive to save water as it will now be a commodity with clear economic value. In essence, this entire system can prove to be an efficient method to improve the groundwater scarcity crisis in the region and hopefully avert the state-wide ecological catastrophe that’s looming large.

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California Governor Talks Blockchain During State of the State Speech

California Governor Talks Blockchain During State of the State Speech

California governor Gavin Newsom singled out blockchain and a few other emerging technologies in his state of the state speech this year and expressed his desire to help progress them and thus create more jobs.

In his speech, Newsom said:

“California needs a comprehensive statewide strategy to uplift and upskill our workers, to ensure technological advancements in AI, blockchain, big data, are creating jobs, not destroying them, and to reform our institutions so that more workers have an ownership stake in their sweat equity.”

The speech aired on Tuesday this week offers more investment and focus on blockchain technology from the state government, something that has not achieved much success in California despite the position of the state as a global tech hub. Silicon Valley, the center of innovation and innovation in the IT sector, is in this state but will need more support from the government before becoming one of the top blockchain promoting areas in the world.

Governor Newsom himself is one of the most progressive leaders at the state level when it comes to cryptocurrencies and blockchain as he started accepting Bitcoin donations as early as 2014. But, at the same time, Newsom has proactive positions on the protection of big data and consumer privacy and giving workers ownership stakes in companies. While these positions aren’t exactly anti-crypto, they do present several challenges to the blockchain sector that need to be overcome.

Newsom has outlined several new moves to help progress blockchain in the state. However, the SEC’s indecisiveness and other issues out of his control will also affect the performance of this sector which isn’t in his control.

 

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