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When Real World Assets (RWAs) were taking the cryptocurrency industry by storm, I stumbled upon a project that piqued my interest.
LAKE (LAK3) is an RWA ecosystem that aims to redefine the “traditional” definition of RWAs by decentralizing the water industry using blockchain technology.
Water scarcity is a major human interest issue. The WWF reports that 2.7 billion people worldwide find water scarce for at least one month a year, and 1.1 billion people simply lack access to water.
Aiming to make water accessible for all through the use of blockchain technology, we spoke with Laetitia Berthet, LAKE’s chief operating officer, to find out how that can be achieved.
About Laetitia Berthet, Chief Operating Officer at LAKE (LAK3)
Laetitia is the Chief Operating Officer of LAKE, a decentralized ecosystem that promotes equitable water access and aims to redefine the true definition of RWAs.
Laetitia joined the Web3 industry in 2019, where she actively engaged in pioneering projects centered around asset tokenization. Since then, she has been a passionate advocate for blockchain technology and its real-world applications, driven by her vision for a more sustainable and equitable future.
Key Takeaways
- LAKE aims to decentralize the water industry by using blockchain technology to create a new, inclusive water economy.
- LAKE prioritizes transparency as all transactions are recorded on a public ledger, allowing participants to inspect the fairness and security of their water-related activities.
- The plan involves offering access to water resources through digital tokens without tokenizing the water itself — broadening the concept of RWAs.
- The company’s first humanitarian mission in Senegal highlights the alignments of decentralization and aid, successfully highlighting LAKE’s mission to provide water access for all.
Stepping Into ‘New Water Economy’
Q: Can you briefly tell me about LAKE?
A: LAKE and LAK3 were created with one goal in mind — connecting as many individuals as possible to water sources.
Our co-founder and CEO, Jean Hugues, noticed that the current water economy is too centralized and heavily monopolized, with a few key players controlling a significant portion of the market.
In reality, a lot of people struggle to get involved in the current water economy, preventing them from benefiting from it. The global bottled water market was valued at $317 billion in 2023 and continues to grow rapidly, possibly reaching over $500 billion by 2030.
The centralized nature of the water economy needs to be disrupted in order to invite people to a new water economy where opportunities are for all, not just a few.
LAKE addresses these challenges by creating a new water economy.
Q: What does this new water economy look like?
A: We needed an ecosystem, LAKE, to connect both supply and demand in all its forms, as well as a borderless means of exchange — LAK3 — our cryptocurrency, which would enable everything else.
The LAKE ecosystem will foster the democratization of water access, empower individuals to be active participants and promote sustainable water management practices while offering many opportunities to all.
This is achieved through the integration of cutting-edge technology with a community-driven approach, which helps us pave the way for a new era of water stewardship – one that reconciles access with economic success for all parties involved.
Prioritizing Decentralization and Transparency
Q: How is LAKE using blockchain tech to achieve water decentralization?
A: Blockchain tech is the key to our decentralization.
To provide an example, the Community to Business (C2B) model allows individuals to collectively participate in large-scale deals, decentralizing the usual B2B sales process and making it accessible to individuals.
Smart contracts help automate the transaction process and manage users’ rights, eliminating the need for intermediaries and significantly reducing the risks of manipulation.
Q: What about transparency?
A: Since every transaction is recorded on a public blockchain, participants in the LAKE ecosystem can be sure that their transactions are properly processed, transparent, and fair.
This means that every action, from purchasing water to donating water, is recorded in a way that is secure and accessible to all. This is also a level of transparency that traditional water distribution channels have never achieved before.
Unlike traditional ‘water brands,’ we offer a Water Shop where users can choose Springs over Brands. Since transparency is key for us, LAK3 token holders will have access to comprehensive information about the water sources listed, including origins, composition, nutritional values, type of source, and water analysis.
LAKE Gives a New Definition to RWAs
Q: In a note shared with me last month, you mentioned that LAKE strives to provide a new definition of Real World Assets (RWAs). Could you reiterate that? How is LAKE giving access to water without actually having to tokenize it?
A: The current definition of RWAs implies only the tokenization of Real World Assets. However, we want to introduce a broader definition of RWAs so that we can provide access to RWAs without actually having to tokenize water itself.
Instead, we see RWAs as digital tokens that represent or give access to tangible or intangible assets from the off-chain world, such as goods, commodities, real estate, or any other asset of value. In our case, these assets are water.
This is achieved through our multi-utility token LAK3 and the LAKE ecosystem, which gives access not just to water but also to its economy. LAK3 token holders can buy, sell, secure, donate, or invest in water sources within our ecosystem. In no case does it imply tokenizing the water itself.
It is important to note that a unit of the LAK3 token is not equal to or represents a certain volume of water within the real world.
Polygon: The Tech Behind Water Decentralization
Q: Why did you decide to build LAKE on Polygon?
A: This decision was driven by several key factors that align with our mission to provide seamless and cost-effective water economy opportunities worldwide.
Firstly, Polygon offers significant improvements in scalability and transaction speeds, meaning it can handle a high volume of transactions without compromising on performance.
Secondly, the blockchain offers low transaction fees, an essential aspect of a platform that aims to democratize access to water-related economic opportunities. In addition, Polygon leverages the security of the Ethereum blockchain, providing a secure and decentralized foundation for the LAKE ecosystem.
The Bottom Line
While bringing our conversation to a close, Laetitia shared with me how LAKE has recently embarked on its first humanitarian mission to Senegal, where it partnered with Leeydi Men, a non-profit organization that constructs wells and supports education and reforestation efforts in the country.
Together, the two teams constructed five wells in five different villages aiming to make water access in the Kaolack region of Senegal as accessible as oxygen.
Indeed, decentralization and humanitarian aid naturally align, as both prioritize empowering local communities and can get aid to those who need it most. We wish LAKE luck on that mission.
References
- LAKE (LAK3) — Inviting People to the Water Economy with Web3 (Lak3)
- Water Scarcity | Threats | WWF (Worldwildlife)
