Watr Foundation Launches Pioneering Blockchain Ecosystem, Enabling Physical Resource Industry to Achieve ESG Goals
Watr to Leverage Algorand Sovereign Body, Bringing Revolutionary Transparency to Raw Material Footprints
Zug, Switzerland, November 9, 2021 / PRNewswire / – The Watr Foundation, in partnership with Algorand, today announced the launch of the Watr Ecosystem: a next-generation Layer 1 open blockchain ecosystem, controlled by KYC-AML with verified identities that will bring the decentralized finance technology (DeFi) to commodities. Verified identities will allow the resource industry to take advantage of blockchain and DeFi technology. They will enable the industry to reach new levels of environmental, social and governance (ESG) transparency, give consumers choice in purchasing and investment decisions, and democratize end-to-end financing in chains. supply of commodities. The Watr ecosystem is designed to spark a race to the top in creating new commodity contracts and products, dramatically expanding differentiation into what are today considered fungible commodities. The Watr blockchain ecosystem is expected to be operational in early 2022.
The Watr ecosystem will be a one-of-a-kind public and sovereign body of the Algorand MainNet that aims to become the destination for sustainable products and applications across supply chains, shippers, buyers, financiers and producers. .
It is developed through a strategic partnership with Algorand, a leading corporate protocol developed by the award-winning founder of Turing. Silvio micali, and based on proven and innovative pure proof-of-stake technology. Although sovereign, the Watr blockchain will still be connected and interoperable with the Algorand ecosystem, allowing Watr’s liquidity and ecosystem dapps to operate seamlessly on both chains and vice versa.
âWatr’s vision of enabling a commodities market based on transparency, environmental responsibility and the activism of all participants is aligned with Algorand’s leadership as a carbon negative network,â said W . Sean Ford, COO of Algorand. “We congratulate the deeply experienced team as they reach this next step in digitizing the core components of raw materials on Algorand and creating abundant transparency regarding the footprint of each raw material in the ecosystem.”
Watr will be the first multi-institutional and autonomous public blockchain designed to meet the requirements of confidentiality, auditability, compliance and commodity finality. It will be set up to support and develop a vast network of decentralized applications (dapps), including transaction execution, exchanges, tokenized assets, new commodity classes and contracts, issuance of stable coins and decentralized lending capacity (DeFi).
âThis is the digital inflection point and transparency for commodity markets. With clear compliance safeguards and a cross section of frontier industries at the table, Watr’s mission is to foster financial inclusion, transparency and customer choice, âsaid Maryam ayati, Chairman of the Board of the Watr Foundation. “We believe that this next iteration on resource models should be co-created in models of mutual benefit. It is a privilege and a comfort to collaborate with the pioneers of decentralized technology, blockchain, industry. and environmental products to bring this blockchain ecosystem to life. “
On Watr, smart digital contract modules will govern the pricing, trading and financing of the physical resources consumed by society, including metals, energy and agriculture, as well as the transportation and financing that underpins it. these industries. Watr’s integrated identity module allows consumers (and financiers) to define the specific footprint they want their consumption to finance. At the same time, suppliers will be able to create new classes of resources based on the environmental footprint their products leave behind. The end goal is to create a transparent market using new technologies applied within existing regulatory frameworks, where each ESG attribute itself is transformed into a commodity with a market-based price, starting with a decentralized carbon market. .
Watr will be launched with Fiat currency and a host of traced and compliant cryptocurrencies, including stablecoins, integrated as a means of payment and transaction.
TrustToken, the creator of the billion dollar TUSD stablecoin, has invested in Watr. Since the inception of TUSD, TrustToken has developed a strong expertise in compliance and digital assets and will act as an advisor to help the Watr Foundation develop a powerful compliance and stablecoin strategy to bring the commodities industry in the chain.
“What Watr is doing is extremely exciting – bringing the efficiency and transparency of blockchain to the $ 5,000 billion raw materials industry. We believe this is a fundamentally better way to deal with these assets, and therefore industry-wide change is inevitable, âsaid Rafael Cosman, CEO of TrustToken.
On behalf of the Watr Foundation, Neo has assembled a cross-sector coalition to cover consumer goods, mining, energy, agriculture, shipping, commerce, blockchain giants and capital markets. .
Through a partnership with HC Group, the coalition brings together individual commodity and blockchain leaders to co-create, build and invest in new blockchain business models for sustainable commodities and to trade on Watr.
For more information on Watr and its ecosystem, please visit: www.watr.org
About the Watr Foundation
The Watr Foundation is a foundation registered in Switzerland aiming to organize, motivate and sponsor the design, development, maintenance and promotion of the Watr Protocol. Its aim is to support the economy’s transition to digital, transparent and sustainable supply chains, and to encourage and sponsor the development of new business models and apps on this protocol. Therefore, it serves as the foundation of the ecosystem and the focal point for the ecosystem and the community of Watr. For more information visit: www.watr.org
Algorand is building the technology to power the future of finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless and secure. Founded by Turing Prize-winning cryptographer Silvio micali, Algorand has developed a blockchain infrastructure that provides interoperability and the ability to handle the volume of transactions needed by the challenge, financial institutions and governments for a smooth transition to FutureFi. The technology of choice for more than 700 organizations worldwide, Algorand enables the simple creation of next-generation financial products, protocols and value exchanges. For more information visit www.algorand.com.
TrustToken frees up money to create more value. TrustToken’s TrueFi Loan Marketplace brings unsecured on-chain loans, providing borrowers across industries with maximum capital efficiency at competitive rates. TrueFi is one of the top 10 lending protocols by total value locked, with + $ 1 billion in assets under management and nearly $ 1 billion in total origination value of the loan since its november 2020 launch, while enjoying a perfect repayment history.
TrustToken’s TrueCurrencies (TUSD, TGBP, TAUD, TCAD, THKD) are the most transparent stablecoins in the world. TrueCurrencies are fully secured, attested live on-chain, and move billions of dollars in monthly trading volume to over 100 trading partners, including major exchanges, banking partners, and over-the-counter offices.
About the HC Group
A retained research, consulting and networking firm, HC has served for 20 years the senior talent needs of a range of organizations active in global energy, metals and agriculture supply chains. .
About Neo Holdings
Collaborating with industry, commerce and crypto giants, Neo Holdings is the initiator and ecosystem developer for the Watr Foundation.
Neo’s goal is to ensure that industry leaders are at the table alongside DeFi, Blockchain and sustainability innovators to drive the next iteration in resource delivery, transparency and decentralized commerce. .
Keli callaghan, Algorand – [email protected]
Michael gasiorek, TrustToken – [email protected]
Damien stewart, Group HC – [email protected]
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