- Agora Tech Lab (ATL) uses blockchain technology to help tackle waste issues.
- Individuals who recycle will be rewarded with ATL tokens on the Binance Smart Chain (BSC).
- Agora Tech Lab (ATL) aims to help cities create decentralized waste management systems.
How Blockchain Technology Helps in Tackling Waste Issues
Waste is a rather serious issue that has had perpetual and adverse effects on goals toward sustainability. With the increasing consumption of consumers worldwide, primarily due to economic growth, waste management becomes much more difficult.
One primary solution would be to recycle as much as possible. However, the majority of people in the world do not stop to think about the indirect effects that waste has. Hence, recycling is not a primary task of citizens in some countries. Besides, the implication is that our environment is at risk, as such, our lives are vastly influenced. We are not necessarily incentivized to recycle and manual incentivizing would entail less efficiency, more regulations, more costs, etc. Thus, it is a simple process on paper but a much more complex one in practice.
Digitalization often leads to an increase in productivity. Perhaps the one technology that has proven to be efficient when it comes to decentralized regulations, higher security, and effective methods of incentivizing is blockchain technology.
Agora Tech Lab (ATL) — The First Global Decentralized Waste Management
With blockchain, there is no central authority, so the nodes would work collectively on identifying the initiative of recycling. Primarily, the reward would need to be conducted through digital tokens, as seen with cryptocurrencies.
One exemplary project that focuses on the waste issues through the use of blockchain is Agora Tech Lab (ATL). They reward people that recycle with ATL tokens on the Binance Smart Chain (BSC). Despite rewards through the use of blockchain to motivate people to recycle, there are other benefits that projects such as Agora Tech Lab offer.
Rewarding is distributed in an equitable manner. The ones who recycle more can be rewarded more. However, if this would be done through a centralized entity, rewards could have been unfairly distributed. Another area where blockchain helps is anonymity. Privacy would be respected when it comes to activity regarding this issue.
Blockchain technology is also efficient in keeping track of data. It is essential to monitor the amount of waste being recycled so that waste management can be controlled. A distributed ledger that cannot be manipulated such as blockchain is the best at doing so.
The only downside that this initiative can have is the waste identification process once it is placed at recycling areas. By sticking QR codes to each product beforehand or using radio frequency identification tags, actions would be recorded on the blockchain. However, if the package of a product is destroyed, hence making it impossible for the scanner to scan QR codes, this would not be recorded on the blockchain. Nonetheless, the advantages that blockchain technology and digitalization can bring on waste management clearly outweigh the minor setbacks.
It is just the beginning of blockchain implementation in various industries, but the initiative taken by some of the world’s promising enterprises can help the environment in many ways and also help people generate income through their actions.
Ultimately, blockchain has fuelled many innovations. It is essential that such a technology is prioritized if the problems are solved in an efficient, equitable, and secure manner.
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