INITIAL TECHNICAL ARRANGEMENTS
WaterCoin will initially be issued as a digital token on the Ethereum blockchain via the ERC20 protocol. WaterCoin issued into circulation will be asset backed by the ownership of water assets meaning water springs and/or water in botteling plants. WaterCoin will partner with leading globally recognized institutions in order to cost-effectively and securely build and monitor the pool of Water reserves benefiting all WaterCoin holders. Holders of WaterCoin will have the ability to exchange their holdings, in full or in any decimal form, for equivalent spot value of any actively traded digital currency. Once an WaterCoin has been issued, it can be held, transferred or exchanged, subject to applicable law, either in whole or in part, in the same manner as Bitcoin, Ether or other digital currencies. This simple configuration most easily supports a reliable audit of Water reserve assets; a process which is fundamental to maintaining the price parity between WaterCoin in circulation and the underlying assets held in reserve. As this information is expected to be publicly reported on www.sec.gov and WaterCoin will be supported by verified commodity reserves WaterCoin will present a far more reliable store of value than other digital currencies where proof of coins is limited to exchange and wallet audits.
The initial coin offering of WaterCoin will allow users to purchase WaterCoin directly from WaterCoin.io (our dedicated site and web-wallet). Users can also transact and store WaterCoin with any ERC20 enabled wallet. WaterCoin will promote and encourage integration into other exchanges, wallets and merchants and will encourage them to collaborate to integrate WaterCoin as a surrogate for traditional Fiat payment methods.
Because the entities carrying out the WaterCoin enterprise will act as a custodian of reserve Water assets, the operation and maintenance of WaterCoin (like many other digital currencies) is not completely decentralized. WaterCoin’s commitment to regulatory compliance, maintenance of asset reserves and price stability sets the cornerstone for building future innovations that will create a robust platform for new products and services, and support the growth and utility of WaterCoin over the long run. Institutions and individuals who wish to maintain their digital currency holdings in digital form but also seek the most reputable, stable and secure digital currency will see WaterCoin as the best alternative.
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As an emerging digital currency, WaterCoin seeks to be easy to buy, sell, use and hold. In particular (i) WaterCoin exists on the Ethereum blockchain, and avoids the limitations of operating within a less developed blockchain or within closed-source software running on a centralized, private database, (ii) WaterCoin may be used in the same manner as other digital currencies, held as a store of value or transferred from peer-to-peer in a pseudonymous, decentralized, cryptographically secure environment, (iii) WaterCoin can be easily integrated with merchants, exchanges and wallets, (iv) WaterCoin inherits the properties of the ERC20 protocol which include decentralized exchange; clearly defined and auditable contract structures; browser-based, open-source, wallet encryption; and blockchain-based transparency, accountability, multi-party security and reporting functions, (v) the purchase and sale of WaterCoin is less likely to face material pricing or liquidity constraints as the supply of WaterCoin and its supporting Water reserves will expand and contract to maintain an equilibrium price of a single WaterCoin approximating the price of a single cubic meter of Water, and (vi) each WaterCoin is supported by a single reserve cubic meter of Water making its value proposition straight forward and easily understood.