What is best Hashing And Digital Signature In Blockchain?
A Glimpse of Blockchain Technology
In the simplest terms, a blockchain is a decentralized peer-to-peer ledger that maintains a complete copy of the transaction record in a transparent and immutable manner. Instead of relying on a third party intermediary or any centralized authority, it ensures complete decentralization.
This technology has many exciting features, but irreversibility among them is undoubtedly one of its key features.
Although many people still associate blockchain with cryptocurrencies, today, the technology has its footprint in almost all industries, including supply chain, healthcare, logistics, finance, and with continued advances in technology, garbage collection is no longer a necessity. is not an exception.
Implementing blockchain in waste management will enable governments to track and monitor waste from its production (source) to its disposal (destination), thereby bringing about a greener environment.
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How crypto and blockchain improve waste collection
Every day, the planet sinks under ever-increasing amounts of waste, wreaking havoc on human health, the economy and the environment. Systematic and effective waste disposal has emerged as a major concern in many countries including developing countries. The reason for this huge waste management is the increasing pace of urbanization and the accelerated rate of population.
Since the waste management process involves various steps such as segregation, transportation, recycling, disposal, tracking and monitoring, such complex processes are almost difficult even for government institutions. But such a process can be streamlined by having a single platform to track all the waste management activities from their origin to their disposal.
Let’s dig deeper and learn how blockchain can help tackle waste management.
Prevents fraud and manipulation
The current disposal of waste management is unfair, lacks transparency and proper documentation. What happens when contractors dispose of waste material, they submit a waste plan report to the municipality office to receive payment, which is based on the amount of waste they are collecting and submitting. There is no proper channel to verify the submissions made, and hence these reports are easily manipulated, leading to massive payment frauds.
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Blockchain Has Already Entered Garbage Collection: Here’s How
Seeing the potential benefits of blockchain, various players have entered the field to tackle waste management. Ivan Zubilewicz, an entrepreneur from Campo Viera in northeastern Argentina, has developed a cryptocurrency he hopes will improve and enhance local waste management.
Although the regulatory framework for cryptocurrency is not yet developed in Argentina, Viera will soon use Jellycoin (in limited capacity) to efficiently deal with waste collection.
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RecycleGO, based in New York City, is another blockchain-powered waste management project that aims to integrate software and technology into recycling. CEO Stan Chen believes the world needs widely scalable solutions in terms of attaching data to human activity to provide social impact behavior to monitor, measure and attribute.
