Rootstock-based NFTs Will Power The Ongoing Water Neutrality Push By Kilimo And WakeUp Labs
The use of non-fungible tokens applies to many business opportunities. WakeUp Labs, a project running on top of Rootstock, is partnering with Kilimo to tokenize water savings. It marks a crucial step toward achieving water neutrality and creating a more sustainable environment.
Water Neutrality Through Rootstock
The vision by WakeUp Labs and Kilimo is a rather interesting one. Kilimo has positioned itself as a leading digital platform for irrigation management in agriculture. The team wants to start issuing water-saving certificates but use immutable technology to achieve that goal. Using the blockchain, and more specifically, NFTs, will play a key role in these proceedings.
By tokenizing these certificates, farmers can have their water savings represented as an NFT. Companies looking to compensate for their water footprint can acquire these NFTs, similar to how many firms try to offset their carbon output. More importantly, these NFTs will unlock a new revenue stream for farmers performing irrigation efficiently.
Kilimo Founder Jairo Trad adds:
"We are excited because Kilimo's technology will allow farmers to receive income for saving water, and simultaneously companies can offset their water footprint. This is how we can make Everyday DeFi a reality."
The project is another feather in the cap of the Rootstock ecosystem. Built on Bitcoin, Rootstock enables various new technologies one wouldn't traditionally find in Bitcoin, including smart contracts and NFTs. WakeUp Labs is one of the dozens of projects leveraging Rootstock to create NFT certificates registered on the blockchain. Moreover, Rootstock has over 50% of the Bitcoin hashrate, making it one of the most secure ecosystems worldwide.
A Strong Push By Kilimo
Kilimo has acknowledged the importance of proper irrigation in agriculture and its role in achieving water neutrality. The ClimTech start-up wants to help verify and improve water consumption in the agriculture industry with the help of Big Data and Machine Learning. There is a tremendous effort going on by farmers worldwide, yet that data has not been harnessed properly. Kilimo aims to change that narrative and emphasize the importance of adequate resource usage.
To date, Kilimo's irrigation practices have been used by over 2,000 farmers. The tea aims to expand its market presence over the coming years, as 51% of the global population could be at high water risk by 2050. There is no time to lose on this front, and saving every drop will count. To date, Kilimo and its partners have saved over 72 billion liters of water in Latin America, confirming their approach is more than viable.