This concept of de-linking assets from value helped rescue Australian farmers from a drought more severe than that faced by California in 2015. Like California, Australia suffered from a patchwork system of water rights that limits the use of water to whatever an individual owner has in mind. The system was reformed beginning in 2003 by separating land ownership from water rights. With the help of a private company called Waterfind, Australia created a platform for water trading that greatly increased the economic efficiency of water use.
