AquaKraft Digital Ventures Pvt. Ltd., a AquaKraft Group Ventures (www.aquakraft.net) today announced that it has received a USD 500,000 grant from Newrl (www.newrl.net) for its digital innovation, AQVERIUM (www.aqverium.com) – 1st Digital Water Bank. A brainchild of Dr. Subramanya Kusnur, Chairman & CEO of AquaKraft Group Ventures, AQVERIUM leverages the rich expertise of AquaKraft’s decade-long journey of advocating sustainability and impactful Water & Sanitation interventions across India. It enables to the creation of a Water Balance Sheet that accounts for every drop of Water making stewardship more accountable and rewarding, powered by a unique blockchain platform Newrl.
Speaking on occasion Vinay Rao, Co-Founder AquaKraft Digital Ventures Pvt. Ltd., said, “AQVERIUM is a next-generation cutting edge digital innovation that looks to leverage AquaKraft’s expertise in water & sanitation along with an optimum blend of Web 3 and various other technologies. One of the main factors for us to collaborate with Newrl is that it is the only public blockchain in the world to have an identity at the chain protocol layer. This mitigates the risk emanating out of anonymous participants on the blockchain. This grant will be used to create a mainstream defi ecosystem which involves tokenization of real-world assets such as Water which enables a high degree of governance and also helps with easier monetization.”
Newrl is a ‘trust network’ – a highly scalable, memory-aware, and multi-token blockchain with a rich protocol layer of template-driven transaction types, smart contracts, and DAOs. It is focused on effective tokenization of real-world assets/contracts and their frictionless financing on-chain ready to be used in institutional as well as DAO-based setups.
“We built Newrl with a specific focus on real-world applications of blockchain. We believe that many of the web3 innovations can add a lot of value to the mainstream. However, such use cases need to be compliant with regulations as well as KYC-AML norms. Newrl is the only public blockchain that enforces identity at the chain layer. We found AQVERIUM to be a fit use case for us to demonstrate our technological innovation and prowess with a real-world solution. It is a matter of great privilege for us to partner with the 1st Digital Water Bank.,” said Swapnil Pawar – Founder Newrl.
A lot has been talked about Water and the imminent crisis the world is facing. Everyone across all stakeholders acknowledges the fact that Water is precious and must be saved and conserved. Governments are trying their best to ensure per capita water adequacy with concrete and definitive steps in policy and action. It is time that every stakeholder realizes and acts in this direction. Water Stewardship needs to be an all-inclusive process across all stakeholders with forcing functions around the use and reuse of water.
Sharing his vision, Dr. Subramanya Kusnur, Founder Chairman & CEO, AquaKraft Group Ventures said, “We are delighted to partner with Newrl as it addresses all the challenges faced by networks today and enables KYC at the chain protocol level enabling a marketplace of qualified and bonafide participants. Water being core to sustainability will play a major role in the way Climate Control & ESG will evolve, and it was very important to create a trusted network that will enable the entire water ecosystem from generation to monetization.”