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CryptoCycle™ care about the environment, especially the UK’s contribution to the ever-growing, global problem of single use plastic which is polluting our seas and harmfully affecting our wildlife. Deposit Return Schemes (DRS) have proven to be a successful incentive for people to recycle more plastic in other countries across the world, reducing the carbon footprint of the country and increasing the cleanliness of the local environment. Reward4Waste is set to improve this further by improving the efficiency of the whole process using blockchain technology.

How much plastic is recycled?

A 2017 report by the BBC stated that of the 8.3 billion tonnes of plastic that is produced worldwide, only 9% is recycled and 12% incinerated. The remaining 79% is accumulated into landfills, our environment and the oceans. That’s over 6.5 billion tonnes of plastic going to waste every year.

Un-recycled plastic bottles take approximately 450 years to biodegrade and are accountable for a great deal of this waste, as of the 13 billion plastic bottles used each year in the UK alone, only 7.7 billion (59%) are collected for recycling. This is surprising as most bottles in the UK are made from PET which is largely recyclable and can be made into numerous, useful things.

How does this affect our environment?

A 2006 report by Greenpeace states that of the 260 million tons of plastic that was produced in the world every year, approximately 10 percent ends up in the seas and oceans, (Plastic Debris in the World’s Oceans, 2006). Seeing as this report is now 13 years out of date and the problem of plastic pollution has only increased since this report was published, the level of the problem is much greater.

Plastic pollution is damaging to wildlife both on land and in oceans and is affecting the ecosystem at an incredible rate. Looking at just the oceans, plastic pollution is now making its way into the food chain through many sea birds, fish and mammals ingesting the waste. Its even making its way into our own diets with a third of UK-caught fish being found to have plastic in them.

How will Reward4Waste help?

CryptoCycle™ has created a new DRS system, Reward4Waste, that will help to improve this problem, beginning with the growing problem of plastic bottle waste. Our new DRS system, Reward4Waste is designed to not only improve recycling rates of plastic bottles but by using blockchain technology allows governments and drinks companies to accurately see how many plastic bottles people are recycling as each bottle has the ability to be tracked.

This is not tracking in the way of identifying people’s personal data, but rather telling the people who need to know, the correct statistics of how many bottles are actually making it from store shelf to recycling point. By being able to provide this information accurately, these governments and drinks companies will be able to understand the level of the problem and work out ways in which it can be reduced further.

Here are just some of the other ways in which Reward4Waste aims to improve the environment through this new system of DRS:

  • Encourage more people to recycle by making the process fun through a reward-based system that suits everyone
  • Make it easier to recycle your plastic bottles by placing smarter reverse vending machines (Smart Bins) in convenient locations
  • Help governing bodies to understand the level of plastic pollution within their area so that the problem is solved with clear, accurate facts.
  • Increase the number of plastic bottles that are being recycled in the UK, tackling the 41% that are either litter or landfill, head on.

Have a question about Reward4Waste? You can visit our FAQs page or contact our friendly team at hello@cryptocycle.co.uk

Our Sources – for more information on the facts and figures that inspired us to create this new DRS system, you can visit these sites: