You won't believe how well it works.
Water damage is a spectre that haunts all electronic devices. One ill-timed spill, one drop in the pool, one accidental submersion in the toilet bowl, and your smartphone is dead as a doornail. Even living in humid, salty coastal regions can be enough to corrode your gadget internals. It doesn't take long and, short of buying some sort of rugged phone with an ugly, blocky body, there's no real defense to it.
Until now. P2I has developed a new nano-coating that wicks water off of any device. To demonstrate how effective this coating is, they brought two test phone boards out for display. Both had been left out in a salty, humid environment for an extended period of time. The coated device was clean, shiny and still worked. The non-coated device was rusted, nasty and dead.
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P2I also had a more direct demo available. They coated several napkins with the same compound and and then dunked them in water. The non-coated napkins did exactly what you'd expect. But the coated ones wicked every bit of water off. Even extended submersion left them high and dry.
The nano-coating actually creates a covalent bond with the paper. It doesn't wear off with time or extended submersion. While these tissues are embarassingly useless for blowing your nose, they got the point across. P2I's technology works. It won't allow you to make calls on your submerged phone, but it will ensure that no amount of water permeation ruins the device.
No one at the booth could give me exact information on how much this treatment costs, per device. The coating can only be added at the end of the manufacturing process, so it is sadly not something you'll be able to buy and apply yourself. Something this useful shouldn't take long to gain widespread adoption. If it does, we deserve our ruined gadgets.