There are approximately 400 million tons of plastic produced each year, with this number expected to double by 2050. In addition, around 40 percent of plastic packaging is landfilled. (World Economic Forum) Let’s face it – that’s a lot of plastic.
RecycleGO, a recycling technology solutions provider, is using Hyperledger Fabric, an open-sourced blockchain framework, to build a platform for any type of recyclable material to be tracked throughout its lifecycle.
The project will begin in Phase 1 by identifying the history of a particular plastic bottle, from its creation to collection through its conversion back to its raw material form and when it’s shipped back to the manufacturer to make another plastic bottle.
"What we have is the world's first comprehensive and inclusive blockchain solution that allows any kind of material to be tracked, and any kind of stakeholder can join," said RecycleGO founder Stan Chen.
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