Hydrolysis catalyst

[SAZAR]

Shall it ever be possible (regarding chemistry rules) to make an alloy which acts like a catalyst in separation of hydrogen and oxygen in water (i.e. drasticaly reduces the amount of electricity needed to do hydrolysis)?

(PS: imagine someone grabs a piece of such material with bare hands...)

Or maybe not a catalyst but some kind of material that would be slowly dissolved in process (so you must replace it from time to time)?

[Astronuc]

Such a catalyst would be of great interest to many people considering the prospect of a 'hydrogen economy'.

The problem is two-fold: one is to reduce energy require to separate H and O in H2O, and two separate the products H2 and O2 so that they do not react.