While the majority of innovators are preoccupied with such matters as incorporating AI into various areas of life, there are millions of people on the planet who experience a constant deficit of the most basic blessings of civilization. It this instance, it is the drinking water.
Mit-Ra, a startup registered in the United Arab Emirates and comprised of international specialists in fields such as energy and pharmaceuticals, figured out a way to make drinking water from the non-potable with the help of the blockchain technology. Moreover, the project insists that it pursues not only a noble goal of providing enough clean water to all those in need, but also seeks to develop a profitable business model.
Mit-Ra operates under the auspices of the UnitedHealth Group, the US-based public company which is the largest healthcare organization in the world with the annual revenue of around $200 billion. The project positions itself as an independent association, though it obtains the approval of all important decisions, like the 10% share of its annual profit, from the board of directors of the UnitedHealth.
The realization of the Mit-Ra project began in 2015 under the able leadership of the research staff from the University of Georgia. Together, they have designed the system for refinement of non-drinkable water that will be incorporated in the major cities of the countries that are on the brink of a profound water crisis.
Over this period of time, Mit-Ra has developed four innovative products, all of which will be integral to the projected water refinement systems:
Mit-Ra plans to erect 14 water cleansing sites in 7 different countries. Each site will have the system that collects the contaminated water that runs within its proximity and transfers it to AquaBoll, where it gets thoroughly cleansed. Afterward, the water goes through the set of membranes that performs the osmosis procedure, and then get properly mineralized and cooled. The treated water is distributed among the consumers in the amount of up to 100 liters.
Mit-Ra uses the Ethereum blockchain to gather and record the data about the purity of water and its content, followed by its thorough analysis. The results of this analysis are being sent via blockchain to the Bollfilter headquarters.
MTA is the ERC-20 compliant token that has two primary purposes: fueling the Mit-Ra ecosystem by maintaining the seamless flow of data and providing grounds for receiving the aforementioned share of profits. It is required to hold at least 10.000 MTA to be eligible for acquiring the perks.
Mit-Ra allocated 280 million MTA for sale, which constitutes 80% of the total emission. The main sale of tokens is already underway with the end date being set on November 30. The price of 1 MTA is $0.1. The minimum investment threshold is $10. Mit-Ra accepts BTC, BCC, LTC, DASH, ETH, and USD. No restrictions were imposed on potential investors.
| Start | October 1, 2018 |
|---|---|
| End | July 31, 2019 |
| Expired |
Certainly, Mit-Ra is not the ultimate solution to the problem of shortage of drinking water, and I am not entirely sure that it will achieve even a part of its objectives. But people have to understand that the supply of clean drinking water is getting smaller year after year. I don’t think that this project has what it takes to make a tangible difference, but at least they are showing people where the pain point is.
Mit-Ra is certainly doing a noble thing, but I don’t really understand the purpose of blockchain in this project. I seems that they are just trying to apply it as an excuse for launching the ICO. Moreover, if they plan to construct 14 water purifying sites in different countries, they would be needing way more funds then the estimated hardcap. Besides, every international startup that deals with physical products, in this case, the water filters, are bound to get stuck in the bureaucratic swamp. So, I am saying that even if Mit-Ra carries out a successful ICO and builds one or two sites, the red-taping will kill it off sooner rather than later.
Mit-Ra is doing a great raising everyone’s awareness about the importance of clean water. Those who live in developed countries, where even tap water can be drinkable, take it for granted. But should this supply be cut even for a week, people would start fighting for a bottle of water. So, I like Mit-Ra approach to this matter, and the fact that they have already designed a complete system. But I would like to see the wider scope of application for MTA. So far, it looks more like a supplementary thing, not as the lifeblood of the project.
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