Abstract
According to the World Economic Forum, the water crisis ranks among the five most dangerous risks to global welfare. In this context, water governance is becoming increasingly vital in various regions, especially as the multiple and competitive uses of water mount increasing pressures on its supply. Despite the evolution of water governance rationales, global water resources are, unfortunately deteriorating. Current water governance models are limited by two intertwined aspects: financial sources and trust. In this context, the objective of this paper is to discuss how blockchain technology can aid in improving water governance, increasing financial transparency, and stakeholders’ trust. Such an improvement could be achieved, for example, with the creation of cryptocurrencies to encourage actions aimed at the conservation of water resources, and also via the adoption of smart contracts.
Keywords:
Blockchain Technology; Management of River Basins; Cryptocurrencies; Smart Contracts