ASX tech behind Civic Ledger's water trading blockchain

Technology developed by ASX is being used by blockchain startup Civic Ledger in a pilot that aims to improve the trading of water rights.

It’s hoped the initiative in far North Queensland may provide a model for IT infrastructure to manage the fractious national water market.

Irrigators in the Atherton Tablelands will test the new Water Ledger platform to trade temporary water allocations. The trial will be of interest to policy makers seeking to improve transparency of water management in the Murray-Darling Basin.

Civic Ledger is running the pilot with the Cooperative Research Centre for Developing Northern Australia. The CRC is seeking to unlock $13 billion of agricultural opportunities for the north of Australia including the potential water market between Western Australia, the Northern Territory and north Queensland.

The project will determine if distributed ledger, or blockchain, technology is the right system to improve transparency in a market currently run by multiple operators with different rules and difficult-to-access data.

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Source: ASX tech behind Civic Ledger’s water trading blockchain