Here you will find some of the most commonly asked questions about Rewar4Waste, CryptoCycle™, Deposit Return Schemes (DRS), Reverse Vending Machines (RVM) and blockchain technology.
What is a Reverse Vending Machine (RVM)?
A reverse vending machine (RVM) is an apparatus that is used to return empty plastic bottles and receive a reward in return.
Using the example of a standard vending machine, you insert money and receive a drink or other item in return for your money. When using a reverse vending machine, you insert an empty plastic bottle and receive money in return for recycling.
Reward4Waste is developing a Smart Bin, which will work like a reverse vending machine but with a higher level of technology which will allow the consumer to recycle their bottle in return for a reward on an app.
What are Deposit Return Schemes (DRS)?
Deposit return schemes are becoming more and more common all around the world. When you purchase a drink in a plastic bottle (in some cases glass) you’ll be charged a small deposit. When you return the bottle, you will receive your deposit back.
How your deposit is returned to you is dependent on how the country runs their DRS. In some nations, you’ll need to return the bottle to a Reverse Vending Machine (RVM) at a superstore or other retail location. In other countries, the bottle will need to be returned to a designated recycling point (like a council run tip or waste management site). Regardless of the location, the deposit is always able to be claimed back.
Reward4Waste are developing a system where deposits for plastic bottles will be return via an app that gives an instant reward or loyalty card style collection of points dependent on how the consumer wishes to be rewarded for recycling.
Which plastics are most common in the UK?
Did you know there are 7 main types of plastic used in packaging?
You may have noticed the chasing arrows symbol with a number on any plastic packaging.
Each of these numbers represents the type of plastic.
1 – PET (Polyethylene Terephthalate)
2 – HDPE (High-Density Polyethylene)
3 – PVC (Polyvinyl Chloride)
4 – LDPE (Low-Density Polyethylene)
5 – PP (Polypropylene)
6 – PS (Polystyrene)
7 – Other (BPA, Polycarbonate and LEXAN)
Depending what type of plastic is used to create the packaging, depends if it can be widely recycled or not.
For drinks bottles the most commonly used plastic is number 1, PET.
What is PET (Polyethylene Terephthalate)?
Polyethylene Terephthalate known more commonly as PET or PETE is the most common plastic used in drinks bottle production. The easiest way to tell what a plastic bottle is made off is to look for the chasing arrows symbol with 1 inside it.
PET bottles can be recycled into a multitude of new products and materials, including automotive parts, clothing and of course, new plastic bottles.
On average in the UK, approximately 35 million plastic bottles are used every day. However, less than 20 million of these are recycled each day. This leaves over 16 million bottles not making their way to recycling and Reward4Waste is aiming to significantly reduce this number.
What is Reward4Waste?
Reward4Waste is CryptoCycle’s™ first project and it is set to change the way the UK recycles their single use plastic bottles. Reward4Waste, uses blockchain technology in a unique Deposit Return Scheme (DRS) that provides a revolutionary solution to the UK’s single use plastic problem.
Read more about Reward4Waste here