Recycling Technology Innovation: Can BlockChain And Crypto Help Save The Planet?
In our regular blogs on the world of waste management and recycling – we are always looking for recycling technology innovation and ways that we can help the environment. In today’s blog – we will cover a potential idea – that would have been complete science fiction only a few short years ago.
green business) – we had looked at the huge energy requirement used by the blockchain process – which according to some accounts will take up the majority of the worlds energy if the currency continues to grow.
For this reason – we were pleased to see that there are also numerous environmental and recycling applications of the blockchain approach that lead to recycling technology innovation.
You can see a video by one of these new companies exploiting this recycling technology innovation as below:
So how would blockchain help with recycling technology innovation?
If you are like me – the concept of blockchain is not exactly obvious – so I will seek to explain the recycling benefits as simply as possible in today’s blog.
No matter what industry or activity the blockchain approach is applied to – it is a way of recording transactions without having one central institution like a central bank or government to regulate them.
The blockchain itself comprises a series of blocks – referring to a certain transaction.
According to the excellent website – theconversation.com:
“Various waste initiatives have seen potential to incorporate this technology. One is the Plastic Bank, a global recycling venture founded in Canada to reduce plastic waste in developing countries – so far Haiti, Peru, Colombia and the Philippines, with plans to extend this year.”
“The initiative rewards people who bring plastic rubbish to bank recycling centres, and one option is blockchain-secured digital tokens. These can purchase things like food or phone-charging units in any store using the Plastic Bank app.”
“The plastic is meanwhile bought by companies and recycled into new consumer products. The system attracts them because blockchain’s transparency means they can see where their investment goes.”
Other recycling technology innovation approaches:
The blockchain enables the collection and analysis of huge amounts of info – such as where, when and who collects certain types or waste or recycling commodities.
In a pilot programme run in the Lyon railway station in southern France – “this saved almost €2,000 (£1,746) in one month in one station by facilitating a new system for collecting five different streams of waste separately.”
Does blockchain give anonymity or destroy it?
One of the chief appeals of blockchain – at least I thought so – was the anonymity provided to buyers and sellers -i.e. people who value their privacy and do not want every activity of their live being viewed by credit card companies and banks.
However – one recycling approach is actually the complete opposite.
As we know – illegal dumping is a huge global issue – so wouldn’t it be great for us to know who was responsible for dumping the waste?
One idea as below:
“When goods are produced, responsibility for them could be assigned. This would be recorded as a transaction to be stored in a block on the blockchain, identifying the product and the responsible party. Every time the product was transferred – when it was sold, say, or when it was disposed of in landfill – this would be recorded in a new transaction. This could all be accessible via a QR code stamped on each product.”
“If the product then ended up as litter on a beach somewhere, the blockchain would provide a digital trail to identify who was responsible. It would be up to the government in question to determine where responsibility lay at any given time.”
Call me old fashioned – but this sounds like a horrendous idea – and one that would easily outweigh its benefits with invasion of privacy concerns.
Of course – we also need to work out if the electricity demands of blockchain mean it is something we want to pursue at all.
Waster is a new type of waste and recycling business for Aussie small and medium companies. We provide all your required waste and recycling services through flexible 30 day agreements – so you never need to worry about long term contracts or roll over clauses again.
You can easily and conveniently arrange your waste and recycling by simply clicking on the link below.
As we do not operate our own landfills – we are not financially motivated to keep dumping waste and always seek to find ways to increase your recycling and look at new options – a true recycling technology innovation.