The Pasig River Rehabilitation Commission (PRRC) is proving that blockchain and cryptocurrency are not only useful in finance but can also improve rehabilitation. The PRRC recently inked a memorandum of understanding (MOU) with Cypher Odin, a local blockchain company, in helping the commission achieve a cleaner and greener Pasig river.
This article is originally published by BitPinas on October 2, 2018.
With the MOU signed, the two will work hand in hand in rehabilitating the 25-kilometer long river back to its glory. It will link both networks and will also have regular meetings to assess, identify, and provide solutions to Pasig river-related problems.
Mr. Mariano Villafuerte IV, CEO of Cypher Odin, hopes that the distributed ledger technology (DLT) from his company8 will help bring back the former Pasig river. A river where people can enjoy swimming, fishing for livelihood, dine and cruise with friends, travel, and a place where couples can hold their wedding ceremonies. The dream is to make the place lively and make it sustainable even for dolphins to visit.
Mr. Villafuerte proposes to deploy modern Internet of Things (IoT) and Internet of Underwater Things (IoUT) in order to monitor the amount of garbage, water quality, tide levels, and other relevant data. The information gathered will be relayed by a trusted, peer-to-peer, and inter-agency platform. A form of blockchain technology that will provide transparency and accountability for all stakeholders.
In addition, Cypher Odin will also launch its own cryptocurrency to help save the river. The token will be called BOTcoin. It is a token that will help reward communities and companies that would help in the cleanup. He said that putting incentives and rewarding people to stop polluting are initiatives that will quickly adapt to a positive change.
“This initiative will be funded by cryptocurrency. Through BOTcoin, we plan on building SMART Islands, which will be centralized through blockchain initiatives to clean up the islands and alleviate poverty as well. BOTcoin is also running the Smart River Initiative (SRI), the world’s first SMART Rivers program, which will be the pilot program used to create the framework we need to clean out the pollution from every river, bay, and ocean.” – Mr. Mariano Villafuerte IV, CEO, Cypher Odin
Cypher Odin’s CEO also wants to tap on the Laguna Lake Development Authority (LLDA) and relevant agencies under the Department of Environment and Natural Resources (DENR) to have an involvement in protecting the country’s bodies of water.
“As the saying goes, you cannot clean the sink if the faucet is still running,” – Mr. Mariano Villafuerte IV, CEO, Cypher Odin
Notable people present during the MOU signing were Cypher Odin’s Director for Environmental Innovations, Mr. Alfredo Lorenzo Roa; Cypher Odin’s CEO, Mr. Mariano Jose Diaz Villafuerte IV; PRRC’s Director, Mr. Jose Antonio Goiti; and Deputy Executive Director for Operations, Mr. Anshari Lomodag Jr.