BANKEX Community Q&A Week 25
BANKEX Team
WaterCoin is a Supply Chain for water distribution for instant access to fresh water in Africa. The project can not only save millions of dollars but millions of lives.
Let's find out more about this project.
Q: Is it planned to implement the project in other cities in Africa?
A: If successful, new WaterCoins will be issued or previously issued WaterCoins diluted for use with new public access clean water systems installed in other towns and villages.
Q: Is the water dispenser connected to the Internet?
A: Yes.
Q: How will the problem with fraud be solved?
A: Locals can use NFC Smart Cards and QR Codes. The NFC smart cards are more durable and registered to individuals, making them harder to misuse. The cost of each contactless smart card is less than $1. In order to complete QR-code verification, you need to have a mobile device. The information on a QR-code can be easily copied, corrupted, or stolen. It is not comfortable.
The water dispenser is equipped with a security camera. Here is a sample video: https://www.youtube.com/watch?v=rRIoI2oc2uQ.
A unique feature of WaterCoin is that it is a true utility token. This means that WaterCoins can only be redeemed for water and so the potential for waste and other forms of abuse is greatly reduced.
Q: How much does WaterCoin cost?
A: Just $0.02 buys 1 WaterCoin redeemable for 1 liter of drinking water for the person in need. A donation of $1 provides 50 liters of clean drinking water — much more affordable than many other sources of clean water.
Q: Can I donate my funds?
A: Yes, you will be able to contribute in the nearest future. A donation of $1 provides 50 liters of clean drinking water — much more affordable than many other sources of clean water.