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;