A world-first crypto water token has been introduced by H2O Water Securities, a South African firm that combines financing, infrastructure, and experience in the development and management of water facilities.
According to the firm, more than two billion people worldwide—nearly 30% of the world’s population—live in water-scarce conditions, and by 2030, that percentage is predicted to rise to 50%.
Lack of investment in water infrastructure exacerbates the issue. According to a 2016–18 OECD analysis, the global investment need for water infrastructure might reach $18 trillion by the end of 2030.
H2ON (Water Network), a cryptocurrency token, is only a way to generate money to fund international water projects. GEM Digital, a digital asset investment company located in the Bahamas that invest in utility tokens traded on more than 30 centralized and decentralized exchanges worldwide, has already invested $150 million in H2ON.
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According to Julius Steyn, CEO, and creator of H2O Holdings, “the focus with the H2ON token is mostly on the funding of water projects abroad and not so much on the technical engineering and building of such projects.”
On Monday, it will be listed on the major cryptocurrency market Bitmart. By Thursday, it will be accessible on secondary markets, enabling anyone to make investments in water infrastructure. Since a few months ago, the token has been traded on decentralized cryptocurrency markets.
“Through our maiden decentralized listing, we were able to demonstrate the broad appeal of the idea of a digital H2O Securities token. With a listing price of around $0.75 and a trading volume of $100,000 at first, it quickly rose to $5.00 and then topped $11.00 in less than 24 hours. It was the fastest-growing token in the world during the early phases of listing and reached a 24-hour trading volume high of over $450,000. Coin Market Cap (CMC) was used to track the original listing, and it will continue to do so for the debut Centralized Exchange listing, according to Steyn.
