Award

The broader/commercial impact of this Small Business Innovation Research (SBIR) Phase II project is to advance the United Nations Sustainable Development Goal (SDG) 6: Clean Water and Sanitation, particularly in addressing water scarcity exacerbated by climate change. By establishing a transparent and accountable platform for water rights trading, the outcomes of this Phase II project will enable efficient water allocation and management, fostering fairness, encouraging market participation, and empowering businesses to optimize water usage. Moreover, it elevates the competitiveness of water-dependent industries such as agriculture, energy, and manufacturing. The potential deployment of digital water markets across the USA could result in estimated daily savings of up to 64 billion gallons of water. The culmination of Phase II's efforts will facilitate the fast deployment of digital water banks and markets, delivering significant benefits to all stakeholders involved. This transformative project serves as a model for leveraging technology to create efficient and equitable water markets, offering a scalable solution that positively impacts water resources, public health, industry competitiveness, and sustainable development. This Small Business Innovation Research Phase II project builds technology to manage digital water management and transactions. Leveraging a pioneering SaaS-based solution, Distributed Ledger Technology, and Decentralized Distributed File System (DDFS), this initiative integrates Internet of Things (IoT) and Supervisory Control and Data Acquisition (SCADA) sensors to provide comprehensive insights into water rights and usage patterns. This Phase II project aims to refine the Phase I-developed solution by automating processes and seamlessly incorporating external devices like IoT and SCADA. Rigorous testing in real-world scenarios will facilitate an iterative process of improvement until the proposed Key Performance Indicators (KPIs) are achieved. Successful completion of Phase II will yield a transformative solution, reshaping water banking and markets, acting as a potent policy instrument for enhanced water management, allocation, productivity, and availability. Targeted outcomes include a potential 20% increase in water use efficiency, up to a 60% reduction in water transaction costs, increased transparency, and deeper insights into water usage compared to traditional water banks. This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.