OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign Up / Login or Learn more

Unlocking the true value of water to build a resilient future!

Enable smart water markets with data and IoT devices to increase the efficient allocation of water while enhancing agricultural value.

Photo of Chris Peacock
4 2

Written by

How does your idea apply new technologies to make agriculture and water systems more resilient in the face of climate threats?

By increasing the transparency and unification of disparate data sources and devices, we will begin to more accurately account for our water and where it is being used. Combined with market mechanics, we can unlock the true value of water, encouraging conservation and the efficient allocation of water in the face of extreme weather events and urban growth while protecting our food supplies and social contracts with agriculture.

AQUAOSO is a water rights management and trading platform. Our platform provides market insight, automates water transactions and provides transparency to all stakeholders. We help customers identify, manage, buy and sell water rights and quality credits while significantly reducing transfer transaction times.

Our tool is designed to better manage water resources in a world of water scarcity, climate variability and population growth. By enabling smart water markets, we can more effectively allocate water resources through market pricing. This relieves pressure on our natural and social systems while increasing transparency around the value of water.

Our platform is designed to enable transparent, stakeholder engaged, water markets. It connects buyers, sellers and water managers to robust tools and analytics to save money and make more informed decisions. The platform leverages IoT technologies, partnerships and data to:

·        automate buy/sell transaction services,

·        enable self-service auctions,

·        deploy on ground monitoring and reporting tools, and

·        provide transaction, valuation and policy analytics


What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

Engaging multiple stakeholders is a key element to successful water markets. We propose to launch a beta version of the platform to a group of water users consisting of agriculture, environmental, urban and regulatory agencies to identify ways in which smart water markets can enhance existing agricultural demands while mitigating the conflicts that currently exist. Of primary importance to the agricultural community, smart markets can mitigate future risk of water availability.

We are excited to learn about ideas at diverse stages of development. At what stage would you currently classify your idea as? (multiple choice)

  • Prototyping: I have done some small tests or experiments with prospective users to continue developing my idea.
  • Operating Business: I have fulfilled the stages of testing, undertaken a full scale roll-out, and am currently operating this idea as a business.

How do you plan to grow or scale this idea?

We are beginning in California and building a platform that can scale across multiple water markets. The platform will incorporate best practices and integrate with ecosystem partners who provide sensors and data services to the agricultural community.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

Defining smart water markets is a multi stakeholder process, requiring significant expertise in both system thinking and stakeholder engagement. We would love your help to evaluate best approaches to develop stakeholder workshops, that can scale to multiple environments. We also envision that the OpenIDEO community can help us identify additional beneficial uses of the platform that provide public benefit.

This idea emerged from:

The current state of water right transactions, combined with our prior experience in both water markets and advanced sensor analytics. The cry for transparency, unification of a fragmented system and the ability to automate decision making leveraging data and sensors was inspiration for this project.

Tell us about your work experience:

Chris Peacock is the Founder and CEO of AQUAOSO. He was most recently Vice President of Client Success at a SaaS based internet of water company. He is also the founder of The Water Innovation Project which develops high impact projects such as: H2.O, the 2015 Water/Energy Nexus Hackathon and the award winning book, Damned if We Don't! Ideas for accelerating change around water. He has more than 17 years of experience in the water sector. He is a regular presenter on the topic of smart water and mentors young professionals to build their leadership skills in programs like the Water Leadership Institute and most recently at the Water Innovation Lab in India.

4 comments

Join the conversation:

Comment
Photo of Catherine Griffin
Team

Hi Chris! Great to learn about AQUAOSO. What kind of signals do you see for demand for a water market? How would you generate revenue from this kind of thing?

Photo of Chris Peacock
Team

Catherine Griffin water markets exist today. For example, in California alone, more than $500M of water rights were traded last year in an unstructured, fragmented and informal market. Australia has a strong market in place already. Various states in the US are looking at market mechanics as are many developing countries, yet lack the appropriate technology to support such a market. Revenue can be generated in a number of ways - as a % of trade, as a recurring fee for the software or even % of water to give back to the local watershed. Thanks for the question! Happy to continue the discussion!

View all comments