Reward4Waste, ending the problem of single use plastic with an innovative blockchain
Deposit Return Scheme
Reward4Waste is CryptoCycle™’s first project that utilises blockchain technology to deliver a unique Deposit Return Scheme (DRS) that will eliminate fraud and dramatically increase recycling rates. In 2018 the UK government has committed to rolling out DRS across the country and it needs to be Reward4Waste.
Reward4Waste offers an easy way to redeem your deposit on your single use plastic bottles through an app, increasing recycling rates and improving the environment of your local area and the country as a whole. With trials running in 2019, this project is ready to take a running start and fight Britain’s single use plastic problem head on.
Why are we so excited about our unique technology?
- Great for consumers as it makes recycling rewarding easy and convenient
- Great for the environment in reducing waste and littering
- Saves £millions on expensive RVM machines
- Creates a clean waste stream for manufacturers to make more recycled plastic bottles
- Enables insight into the recycling behaviour of single-use bottle purchasers
- Eliminates fraud and the grey recycling market
- The technology can be used for many supply chain/tracking solutions
Deposit Return Schemes – Explained
Deposit return schemes (DRS) are now becoming an increasingly common recycling technique across the globe in a bid to reduce the amount of single use plastics and increase recycling rates. People of a certain age will be familiar with the glass deposit return schemes some drinks manufactures retailers have been running for centuries but now this is being extended to plastics. Simply put when you purchase a drink in a plastic bottle you pay a small deposit which is refunded when you return the bottle.
Although DRS have been around for a long time, they can prove inconvenient to the consumer and retailer, vulnerable to fraud and expensive to run when it comes to Reverse Vending Machines (RVM). Reward4Waste has a simple solution to the complex problems DRS schemes pose.
If you want to get involved with our project, visit the CryptoCycle™ website and see how you can become a part of this ground-breaking project.
Trials and Activities needing your help
Reward4Waste will change the way our nation recycles, and part of the development process involves local trials and related activities to ensure everything runs smoothly when it is rolled out nationally and possibly globally.
Trials like these need funding support and we are currently launching a crowdfunding campaign to raise the initial £300,000 needed to progress our research and development. We intend to run two local trials in England and Scotland in early 2019. If you are interested in getting involved financially with Reward4Waste visit our crowdfunding page or the visit the CryptoCycle™ website to read more about investing privately.