Built on Rootstock, WakeUp Labs has teamed up with Kilimo, a leading digital agricultural irrigation management platform, to create a system for issuing non-fungible tokens (NFTs) in the form of water saving certificates. This means that companies that want to offset their impact on water resources may buy NFTs that reflect farmers’ water savings. Those farmers who benefit from their irrigation systems will benefit financially from this process.
WakeUp Labs, a component of the Rootstock ecosystem, will facilitate the creation of NFT certificates that will be registered on the blockchain, providing indisputable evidence of the water savings that have been achieved. With more than half of the Bitcoin hash rate going to Rootstock, the first Bitcoin side chain to offer smart contract capability to the Bitcoin network, this entire ecosystem is among the most secure in the world.
Kilimo founder, Jiro Trad said:
“We are excited that Kilimo’s technology will allow farmers to receive income to save water, and at the same time companies can offset their water footprint. This is how we can make Everyday DeFi a reality”
A ClimTech startup, Kilimo validates and improves water use in agriculture. In order to make the most of these assets, they are using big data and machine learning technologies in the agriculture sector. More than 2,000 farms use regular irrigation methods. According to a projection by the World Wildlife Fund (WWF) in 2020, 51 percent of the population could be at risk of severe flooding by 2050. More than 72 billion gallons of water has been saved thanks to Kilimo’s efforts across Latin America.
Augustin Pandolfini commented:
“It is amazing to see these two influential players harnessing RSK for a great sustainable cause that helps enable innovative DeFi every day for farmers.”
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