Water Markets Agency

Looking ahead 

In 2021, the ACCC conducted an inquiry into the existing rules and regulation regarding the Murray-Darling Basin. Based on this report, the ACCC has proposed establishing a new Water Markets Agency to centralize and oversee all water market functions within the Murray-Darling Basin. 

It is yet unclear how this new regulatory body will function alongside existing state-wide systems and planning are underway to identify how this new proposed agency can act and contribute to ever-increasing need for transparency alongside the MDBA and NRAR.  

Blockchain encoded in water data to enhance capabilities for the agency

Decentralized mechanisms can enhance transparency for the new water market agency by allowing real-time data sharing across various platforms, reducing reliance on a single entity. Blockchain technology as a new bedrock for decentralised and secure information sharing avoids duplication and mismatches of data between all agencies, ensuring water data provided from decmecs is publicly accessible and tamper-proof for enhanced decision-making.