Fujitsu's Blockchain Solution Applied to New Water Trading Platform to Tackle Global Water Shortages
Enabling Botanical Water Technologies to offer a new sustainable and circular source of clean drinking water
TOKYO, Nov 18, 2021 - (JCN Newswire) - With global water supplies under severe pressure from climate change and growing worldwide demand, Fujitsu and Botanical Water Technologies (BWT) signed an agreement and initiated the creation of a blockchain-based water trading platform, "Botanical Water Exchange" (BWX), on November 8, 2021. Fujitsu will help businesses achieve sustainability commitments and alleviate water shortages through the development of the world's first water trading platform for the exchange of plant-derived water, which is based on the concept of sustainable water offsetting.
BWT leverages its patented technology to purify and re-mineralize water that is normally discarded during the production of vegetable and fruit juices and the processing of sugarcane, providing this plant-derived purified water to areas where it often proves difficult to secure safe drinking water.
The new BWX platform will rely on the FUJITSU Track and Trust service, which uses blockchain technology to ensure end-to-end transparency and traceability of processes including the refinement, sales, purchase, delivery and usage of the product. With a planned launch date of April 2022, both companies envision the new BWX platform contributing to the realization of greater safety and security in water trading, and ultimately aim to create an open market in which companies including juice concentration facilities, sugar mills, alcohol distilleries, and beverage manufacturers can sell water purified by the patented Botanical Water process.
Terry Paule, CEO at Botanical Water Technologies comments, "Reducing all wastage from industrial processes is a key pillar of a "circular economy". The focus of Fujitsu to create a better society through innovation and their breakthrough methodologies are the main reasons for our co-creation journey with them. With our Botanical Water technology we can, for example, recover up to 60% of the water in sugarcane that is still accessible after sugar extraction and produce clean, environmentally green and safe drinking water. Food and beverage manufacturers with excess water produced by the Botanical Water process can either put it to circular use as a sustainable ingredient, market it as AquaBotanical plant-based water or offer water credits on the BWX platform as part of their water positive ESG programs and non-financial indicators."
Frederik De Breuck, Head of the FUJITSU Track and Trust Solution Center comments, "Our new blockchain solution, the FUJITSU Track and Trust service, has been developed and launched at the FUJITSU Track and Trust Solution Center in Belgium. To realize the groundbreaking initiative of net-zero water trading with BWT, we have proposed a private and permissioned blockchain-based platform that leverages the Track and Trust solution. With this solution at the core, our multidisciplinary team continues to build blockchain solutions that support the realization of our customers' management visions and the optimal resolution of global social issues under a global structure of co-creation and collaboration with our bases in India, the United Kingdom, and Japan."
According to the UN, about four billion people - nearly two-thirds of the global population - experience severe water scarcity during at least one month of the year (3). The UN's Sustainable Development Goals (SDGs) for 2030 recognize the urgency of addressing this water scarcity.
Amid growing interest in the environment and the SDGs, beverage manufacturers are focusing their efforts on reducing the environmental impact of their business through actions like the reduction of CO2 emissions, the conservation of water sources, and the reduction of water consumption at production facilities.
About Botanical Water Exchange
The new BWX platform will deliver unprecedented supply chain traceability using blockchain technology. Juice concentration facilities, sugar mills, and alcohol distilleries equipped with BWT's equipment will be able to purify water that would otherwise be discarded during the production process. Manufacturers can sell this water to other food and beverage manufacturers on the BWX platform or put it into circular use at their own facility.
Companies that want to use Botanical Water in their factories can purchase it via the BWX platform from the nearest Botanical Water refinery. In this way, companies can lower transportation costs, reduce the environmental footprint of their operations, and ultimately contribute to the achievement of both carbon and water neutrality targets.
By purchasing "water credits" (4) that can be redeemed on the BWX platform, companies can also donate the same amount of water consumed at their facilities in order to reduce their environmental impact to zero as part of their water positive ESG and corporate compliance programs.
For example, companies that use a large amount of water for their business can offset this water usage through the purchase of water credits, which allow them to provide clean drinking water to water-scarce communities and run charity activities through the Botanical Water Foundation not-for-profit organization.
About "FUJITSU Track and Trust"
The FUJITSU Track and Trust service leverages blockchain technology and draws on a variety of open source software, industry knowledge, information on trends, as well as Fujitsu's know-how gained through the management of systems operations for tens of thousands of customer cases.
In addition to authentication and account management, which are required when applying blockchain technologies to business operations, Fujitsu builds on its extensive industry knowledge and integrates its expertise in areas including UI, infrastructure, and networks to offer small-start platforms tailored to its customers' businesses by adopting an agile approach.
(1) up to 3 trillion liters annually:
Botanical Water Technologies estimated drinking water production capacity.
An environment necessary for long-term corporate growth and for the realization of a sustainable world with three principles: "Environment", "Social" and "Governance"
(3) about four billion people - nearly two-thirds of the global population - experience severe water scarcity during at least one month of the year:
(4) Water credits:
A concept similar to that of carbon credits where companies trade mainly for use in water offset. When a company purchases water credits to offset its water use in the manufacturing and distribution of products and services, and the same amount of water is donated, it is offset and the company's water use is reduced.
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 126,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$34 billion) for the fiscal year ended March 31, 2021. For more information, please see www.fujitsu.com.
Source: Fujitsu Ltd
Sectors: Environment, Blockchain, Technology
Copyright ©2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
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