WakeUp Labs teams up with Kilimo to generate water-saving certificates using NFTs and save up to 40% in water for irrigation

If you think non-fungible tokens (NFTs) are just about funny monkey JPEG images, think again. Although the technology is still in its infant stage, NFTs can be used to represent ownership of any digital assets. Because each NFT is unique and cannot be replaced by another token, NFT can be used in different industries including arts, decentralized marketplaces, and supply chain management.

NFT can also be used in agriculture, water management, and environmental causes. An example of this is how two startups are working together to use NFT to help save up to 40% in water for irrigation.

Kilimo is a big data startup that provides solutions for water management in agriculture. The startup features climate monitoring by using satellite and site data to provide prescriptions for each crop and increase water use efficiency.

Kilimo and WakeUp Labs recently joined forces to tokenize water savings through NFTs to achieve water-neutral goals and reward farmers.

Today, WakeUp Labs, which is built on Rootstock, announced it has partnered with Kilimo, one of the leading digital platforms for irrigation management in agriculture, to provide the technology infrastructure for generating water-saving certificates using non-fungible tokens (NFTs).

This means that farmers’ water savings will be represented by an NFT, which can be bought by companies that want to compensate for their water footprint. This mechanism will generate additional income for farmers who use irrigation efficiently.

WakeUp Labs, part of Rootstock Ecosystem, will support the creation of NFTs certificates that will be registered on the blockchain, thus providing clear evidence of the water savings achieved. Rootstock, the first Bitcoin sidechain that brings smart contract functionality to the Bitcoin network, has more than 50% of the Bitcoin hash rate, which makes this entire ecosystem one of the most secure in the world.

Kilimo is a ClimTech start-up that verifies and helps to improve water consumption in agriculture. They use Big Data and Machine Learning to effectively use these resources in agriculture. Their irrigation practices are used by over 2,000 farmers. By 2050, 51 percent of the population could be at high water risk according to a report made by the WWF (World Wildlife Fund) in 2020. And here Kilimo saved over 72 billion liters of water in Latin America.

Kilimo Founder, Jairo Trad, said: “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”

“Amazing to see RSK being tapped by these two influential players for a great sustainable cause that’s helping enable innovative everyday DeFi for farmers,” commented Augustin Pandolfini.