en
Back to the list

World's First Crypto Water Token Launched by South Africa's H2O Water Securities - Crypto Economy

Finance

crypto-economy.com 05 July 2022 08:02, UTC
  
Reading time: ~2 m

A South African company called H2O Water Securities, which combines finance, infrastructure, as well as expertise in the design, construction, and management of water plants, has launched a world-first crypto water token in order to cover the costs associated with the project.

Approximately 30 percent of the world’s population – approximately two billion people – live in water-scarce conditions. This number is expected to reach fifty percent of the world’s population by 2030. This number is expected to increase to two billion people by 2050.

What is the Use Case?

The lack of funding for the construction of water infrastructure is further compounding the problem. It has been highlighted by a recent report by the OECD that there will be an estimated funding gap of around 18 trillion dollars for water infrastructure by 2030.

There are several reasons why the crypto-token H2ON (Water Network) is being used. One of them is in order to raise capital in order to finance global water projects. As part of the process of raising $150 million for the development of H2ON, GEM Digital has already invested $150 million, one of the largest investments in the digital asset industry, by a global company based in the Bahamas. GEM Digital invests in digital assets listed on over 30 decentralized and centralized exchanges worldwide.

In an interview, Julius Steyn, CEO, and founder of H2O Holdings pointed out that the focus of the H2ON token is first and foremost on financing the water projects in the international market and less about the engineering or construction of such projects on a technical level.

There will be an addition to the Bitmart cryptocurrency exchange list of cryptocurrencies on Monday. As of Thursday, it will be available on secondary markets, thus allowing people to invest in the development of water infrastructure. For the past few months, decentralized cryptocurrency exchanges have been offering tokens on their platforms.

Steyn added:

“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 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.”

We should wait and see if the new water token can help the challenges of water distribution. It can be another success story of cryptocurrency helping real-world projects.


   Source
Back to the list