- RecylceGo aims to increase participation, product quality and sustainability throughout the product’s life cycle.
- RecycleGo started forming collaborations with international and household brands who pledged to reach 25% recycled content by 2025 which is currently 8%.
- RecylceGo’s solution became the world’s first all-in-one blockchain solution by which one tracks any kind of material and any kind of stakeholder can join.
Recycling is a difficult business with lack of proper plastic waste management globally. While many crypto experts are brainstorming on ways to venture recycling with blockchain, they are yet to come up with a viable solution that can meet the interest of all.
But RecylceGo’s partnership with DeepDive Technology to leverage Blockchain technology could change all that. Through this collaboration, it aims to increase participation, product quality and sustainability throughout the product’s life cycle.
Tackling the Global Issue
RecycleGo, world’s leading recycling company, will offer its blockchain platform in making government, citizens and business work together to reduce plastic waste in the environment with an impact. With this decentralised system, they aim to establish transparency and track recycling activity so that recyclers can track their materials while consumers can make sustainable purchases.
Stan Chen, CEO of RecycleGo and an eco-entrepreneur, explained that the more visibility one has in any kind of supply chain, the more one can be able to engage the resource planning, including pricing and purchasing choices, that has a direct impact on protecting the margins and creating one’s value as a whole.
RecycleGo started forming collaborations with international and household brands who pledged to reach 25% recycled content by 2025 which is currently 8%. The phase of this multi-phase project allows its project collaborators to understand the entire journey of a specific plastic bottle right from the mark of its creation till it hands in the manufacturer to become another one.
Inclusive Blockchain Solution
RecylceGo’s solution became the world’s first all-in-one blockchain solution by which one tracks any kind of material and any kind of stakeholder can join. Misha Hanin, CEO of DeepDive commented that throughout the recycling supply chain the blockchain technology will ensure good environment behaviour for each and every stakeholder.
RecycleGo plans to form a relationship with the partners that can extend to their customers and suppliers To complete a full flow on the blockchain. Chen asserted that with this new blockchain solution, their goal of making recycled content from 8% to 100% can be reached as they knew how well to use the blockchain.
Currently, the new blockchain product is in development and will be built using Hyperledger Fabric. This is an open-sourced blockchain framework initiated by the Linux Foundation in 2015 and supported internationally today by over 250 members including IBM, Intel and DeepDive.
Apart from RecylceGo, many recycling service companies unveiled pilot blockchain for recycling plastics. Plastic Bank has established recycling centres with a blockchain-based reward system in countries like Haiti, Ethiopia and South Africa. BASF has launched a novel approach to the recycling process involving a series of badges that will help recyclers with mechanical sorting of collected badges based on the scannable badges. Currently, companies are in discussions with the world’s largest plastic producing brands some of whom are already customers of RecycleGo.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.