Reward4Waste and SPARS. CryptoCycle’s™ first applications for their blockchain technology to drastically increase recycling rates, reduce costs and end fraud

Reward4Waste is a Deposit Return Scheme DRS developed by CryptoCycle™ which uses blockchain technology to bring an end to Britain’s extensive single use plastic problem, recycling fraud and low recycling rates.

With additional SPARS (Smart Phone Activated Return Scheme) technology CryptoCycle has removed the technology from large expensive RVMs (reverse vending machines) to a smart phone app. Dramatically reducing the costs of producing RVMS to make them more widespread and accessible even down to home recycling.

CryptoCycle’s™ smartphone activated return scheme (SPARS) is technology that will enable you to scan and recycle your bottle to any bin with a SPARS chip through the Reward4Waste app.

At the moment DRS require you to return your bottles to a reverse vending machine (RVM) usually found in a retailer or a designated recycling place. This requires you to save and store your bottles and then take them to return them. It is not the most convenient way to recycle when the majority of single use plastic is used on the go and never makes it to home recycling or a RVM.

Smartphone activated return scheme (SPARS)

SPARS essentially passes all the functionality of a reverse vending machine (RVM) to a smartphone. The RVM becomes nothing more than storage, a bin. No need to carry round or store empty bottles to take them to an RVM;

We know that our technology will transform DRS and provides huge benefits to;

  • High accessibility to recycling
  • Using existing bins and containers to recycle and the existing collection infrastructure
  • Eliminate the need for costly RVMs
  • Low set up and operational costs
  • Lower retailer involvement – except for an over the counter alternative for those without smartphones
  • Extendable to the home environment
  • Applicable to any packaging using a unique Reward4Waste code

We are certain that our Deposit Return Scheme (DRS) is the answer the UK Government, and the world, are looking for to end the problem of single use plastic. By using blockchain technology to track each bottle Reward4Waste has eliminated fraud and made recycling more convenient and attractive to the consumer.

Investors

We are currently launching a crowdfunding campaign to raise the initial £300,000 needed for further research and development and to run local trials. If you are interested in getting involved financially with CryptoCycle visit our crowdfunding page or contact us directly if you’re a private investor via email hello@CryptoCycle™.co.uk

Reward4Waste

Here’s how it works:

  1. You buy a drink with a uniquely coded bottle and pay a small deposit for the bottle.
  2. Once you have consumed your beverage, that bottle is returned to be recycled at a designated return point or through a Reverse Vending Machine (RVM). The code attached to the bottle is then scanned and through the Reward4Waste app your deposit is returned to you – with possible additional benefits and bonuses, rewarding you for your recycling efforts.

One bottle, one code – no fraud, multiple rewards.

  • Higher recycling rates
  • High quality waste streams
  • Low capital and operational costs
  • High accessibility – recycling on every street corner
  • Positive public engagement
  • Changing recycling behaviours

Why Reward4Waste?

Reward4Waste provides an attractive incentive to recycle your plastic bottles in an efficient and convenient way through a reward-based system. Whilst the system currently has the incentive of receiving the initial small deposit back, Reward4Waste aims to eventually be able to give consumers further options to be rewarded through points-based incentives and money off vouchers in partnership with manufacturers and retailers via the Reward4Waste app. By having the power to decide how you receive your reward, the consumer is more likely to find a way of recycling that suits them.

 

A vision of the future for the circular economy

Imagine if a deposit was charged on all consumer packaging which is returned to the consumer when they recycle or return properly?

With Reward4Waste and SPARs technology consumers could track their recycling at home or when they were out and about, any packaging format, any deposit.  Totally flexible and trackable system to increase recycling rates and reward consumers for doing it.

Get involved

CryptoCycle™ is currently raising the capital needed to fund the initial trials for Reward4Waste and present it to the UK as the DRS solution the government has committed to find.

To support our trials through crowdfunding please visit our CryptoCycle™ crowdfunding page. Private investors or those in the industry looking to partner with this unique solution please visit our investors page or contact us directly.