Good Food News - Blockchain Recycling Incentives
Plastic has become such an integral part of our everyday lives that many of us aren’t sure how to get by without it. That reliance has turned into a worldwide environmental crisis. A Forbes Magazine article reports on Empower, a Norwegian startup using a blockchain-enabled system, backed by NGOs, corporate businesses, and governments to pay for projects to reduce waste.
For those of you unsure about blockchains, they are a decentralized, distributed, and public digital ledger that is used to record transactions across many computers. That means transactions are followed from start to finish.
Those transactions enabled by Empower, record the waste brought to collection centers and reward those who gather it about $1 for every kilo of waste. It also follows that waste back to the recycling centers. The plan is to give an incentive to recycle more and keep those plastics that we have become so reliant on out of landfills and oceans.