Rootstock NFTs Will Enable WakeUp Labs and Kilimo To Achieve Water Neutrality For Farmers Worldwide
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Doing something good for the planet is possible in many ways. Even non-fungible tokens (NFTs) can play a key role in these proceedings, despite this technology’s criticism. WakeUp Labs has tapped Rootstock to reward farmers for their proper water practices in agriculture.
Another Big Step For Rootstock
Most people may know the name Rootstock as the sidechain to Bitcoin. However, it is more than just an extension of Bitcoin, as Rootstock brings new functionality to the table. That includes the opportunity to build smart contracts or issue non-fungible tokens. Although NFTs may not have the best reputation due to their environmental impact, the new NFTs coming to Rootstock will make a positive climate impact.
More specifically, Rootstock has been chosen by WakeUpLabs to create water neutrality-oriented non-fungible tokens. WakeUpLabs is built on Rootstock and will partner with Kilimo, a leading digital platform for irrigation management in agriculture. Creating water-saving certifications through NFT technology will introduce many new opportunities to help save the climate.
Kilimo Founder Jairo Trad explains:
“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 new NFT certification serves a multi-pronged purpose:
- It will enable companies to buy these NFTs and offset their water consumption.
- It introduces an additional revenue stream for farmers who conduct proper water practices in agriculture.
- It highlights the need for paying more attention to saving water whenever and wherever possible, as 51% of the world’s population will be at high water risk by 2050.
It is evident that something needs to change to help save the climate, and this venture moves that narrative in the right direction.
Immutable Certificates On The Blockchain
WakeUp Labs, Kilimo, and Rootstock join forces on this venture to benefit from the immutability of blockchain technology. Having the security of the biggest blockchain network in the world is a crucial bonus. In addition, the NFT certificates will be registered on the blockchain to provide transparent records of water savings. It is a crucial step toward achieving water neutrality on a global scale.
Kilimo specializes in verifying and improving water consumption in agriculture. The company has seen tremendous success in Latin America, helping over 2,000 farmers save more than 72 billion liters of water to date. With the help of Big Data and Machine Learning, the company can effectively use its resources and help farmers achieve their goals.
