#waterresource

At Maxwell GeoSystems, we too recognise that water is not only essential but also a crucial foundation for economic development and improving our standard of living. 💧 We're proud to support PUB, Singapore's National Water Agency, in their noble mission to ensure the responsible management of water resources. Through collaborative efforts, we've been involved in numerous water-based projects alongside PUB, leveraging innovative technologies and expertise to address complex challenges and promote efficient water management practices. 🏗️ From enhancing reservoir monitoring systems to optimising water distribution networks in projects such as DTSS2 (Deep Tunnel Sewerage System), our partnership with PUB exemplifies our shared dedication to safeguarding this invaluable resource. Together, we're not just shaping projects; we're shaping the future of water sustainability.

There is a growing need for the water sector to address global water scarcity and water quality challenges through new approaches. Water utilities face acute challenges at a local scale to meet the needs of growing urban populations. Costly centralised systems might not be the way forward and if (or when) the predicted trend towards decentralisation and digitalisation becomes a reality, then blockchain technology will be fundamental to this new digital water world.

Some fascinating projects are coming about, facilitated through blockchain, that aim to build decentralised, resource-based economy networks. Blockchain technology can help mediate payments between producer and consumer, as well as record exact exchanges of water resource assets and payments through new digital financial systems like cryptocurrencies. This technology has the potential to decentralise and democratise the use and management of resources and put communities at the centre of sustainable development. If this seems like a far way off, think back to the early 2000s – how many people had a mobile phone?

Cutting costs and speedy transactions

Even for our current centralised systems, blockchain can help to create more efficiencies and cut fees by providing a system through which transactions are quickly settled at a low cost. Santander found that implementing blockchain into bank transactions dramatically cuts costs while allowing for relatively immediate payments, reducing the delays and fees incurred by traditional banking systems. Utilities that automate their processes through blockchain and remove the intermediaries that distribute payments and process transactions would benefit from improving speed and efficiency of payments for customers as well as reduce their own operating costs and risks of errors. By providing a secure, immutable system, blockchain could help to streamline transactions for water utilities.

Water-resource security a key mission this year

Head of the ministry's Department of Water Resources Management Hoang Van Bay said that a lack of capital was blamed for delays in several projects, such as observing fluctuations of water resources or making plans to provide water nationwide due to …