Consumer Staples Exchange (CSX), a Blockchain Ecosystem sector Exchange, announced its strategic acquisition of a water concession in Azores, Portugal, today. “The idea of a blockchain company acquiring a nation-state water asset might normally seem odd”, said Harry McCue, CEO of Consumer Staples. “By leveraging the ability to connect and optimize from source to the customer provides tremendous value to the overall market. Our process addresses future scarcity, secondary market opportunities, and access to water in an egalitarian, ecological, elegant, and efficient way”.
CSX is deploying a global team to leverage the power of the blockchain. The entire water supply process can be put into a digital world using CSX's shared services technology. The company is deploying IoT sensors to connect and track water in its blockchain. Specialized artificial intelligence, big data, and compaction fuse to create the H2O Clearinghouse located in the Azores in partnership with local market support.
CSX has successfully entered into several agreements with other nations to transfer over 100 million gallons of water through the H2O Clearinghouse.
“The Consumer Staples H2O Clearinghouse is a new kind of intermediary between a buyer and seller in a financial market”, said McCue. Our blockchain validates and finalizes the transaction, ensuring that both the buyer and the seller honor their contractual obligations in a transparent and immutable way. Each one of the Exchanges in our Blockchain Ecosystem has a clearinghouse to handle this function”.
The H2O Clearinghouse operates on the blockchain using decentralized applications (dApps) and smart contracts. It clears and finalizes water transactions, settles trading accounts, collects margin payments, regulates delivery of water assets to the purchaser, and reports trading data.
The H2O Clearinghouse acts as a new kind of organization to support the activities of water trading countries. It creates a function to work with third parties for futures and options contracts in the water market. The Blockchain Ecosystem model of using asset-backed tokens, silver, and digital securities ensures the clearing of sellers and buyers in a real-time, immutable, and transparent standard.
The Consumer Staples Exchange is passionate about the success blockchain technology will have on this sector. CSX focuses on delivering a solid public-private blockchain-powered assembly of marketplaces that focus on more efficient e-commerce.
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