GEM Digital, a Bahamas based investment company, has invested US$150 Million USD in a new cryptocurrency-based program to finance water infrastructure projects in regions with poor access to fresh water.
The project is run by South African company H2O Securities which, through the use of blockchain technology, intends to use the H2ON token as a means to facilitate investments in water infrastructure, mainly in Africa. The project aims to provide a tool that facilitates investments coming from all over the world by eliminating barriers and making the transfer of funds easier.
H2ON does not focus on engineering or the more technical aspects of water infrastructure. Instead, it is intended to be used as a way to settle bills between investors and contractors.
H2O Securities claims that this process, by being quicker and more efficient that the traditional method, will allow for infrastructures to be implemented more quickly and efficiently.
Julius Steyn, H2O Securities CEO, said in an announcement: “Water is the most important commodity on earth, and how we manage it now and in future is crucial for humankind.” He then added: “We believe that through H2O Securities’ s H2O Water Network (…) we can produce more water infrastructure faster and more cost effectively, thereby contributing to a more sustainable future”.