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A senator in Colorado wants the state to study the potential use of blockchain technology in water rights management.
A bill submitted by Republican senator Jack Tate, alongside representatives Jeni James Arndt, and Marc Catlin, outlines the reasons why the Colorado Water Institute should be authorized to explore how the technology could help maximize operational efficiency, CoinDesk reports.
According to the bill, the institute should look at possible use cases including applying the technology to manage a database of water rights and facilitating the establishment or operation of water markets or water banks.
The submission of the bill comes a month after IBM announced a collaboration with Freshwater Trust and SweetSense, which saw the companies leverage blockchain and IoT
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