Our innovative solution, Recyclium, is a blockchain-based bounty system that meticulously tracks products and recyclables, and facilitates their return to producers while justly rewarding collectors.
OpsChain Blockchain Platform
Recyclium is powered by OpsChain, a cutting-edge, organization-focused blockchain designed by Ernst & Young, the global frontrunner in strategy and consulting services. This technology stack, customized specifically for Recyclium by EY and our tech partner, DataUnion Foundation, offers the technological bedrock for manufacturers, enabling swift adoption of tracing technologies in product manufacturing lines via a trusted platform tailored to customers’ needs.
The Recyclium App plays a pivotal role in the functionality of our system. Manufacturers can use the app to create campaigns for the products they upload to our database. In turn, consumers can monitor these campaigns, register purchased items, and determine product compatibility. Upon registering suitable products in the campaign, the consumer is rewarded for returning the product to a Recyclium-certified storer or recycling centre, easily locatable through the app.
Effective for Developing Countries
Recyclium is particularly impactful in developing countries that lack essential infrastructure, can’t afford automated systems, and have limited pollution awareness. To stimulate collectors, recycling systems must be incentivized and reward acts promoting environmental sustainability. With the proper integration of waste tracking and tracing, waste supply information, and geolocation, we aim to raise public awareness about the importance of recycling, increase the amount of recycled materials, and expedite the establishment of recycling centres.
Cost-Effective Marketing Strategy
The Recyclium bounty system doubles as a cost-effective marketing strategy, beneficial to both the manufacturer’s reputation and the environment. We’re committed to reducing the amount of waste that goes to landfills or incinerators, focusing on reclaiming valuable resources from discarded items like plastics, cans, and glass bottles. By implementing effective waste management metrics through tracking and recycling processes, companies can demonstrate their commitment to environmental responsibility while improving resource efficiency.
QR Code Tracking
Our tracking process begins when our customers, known as “Collectors,” scan the unique QR code from the bottle using the Recyclium app on their smartphones. This information is linked to their account, encouraging them to deliver the packaging/product to the nearest “Storer”, which could be a retailer, recycling facility, or even a manufacturer. The app locates the nearest “Storers,” who validate the ownership transfer of the stash by scanning a unique QR code with a complete set of recyclables recorded by the consumer for the transfer.
When the recyclables are finally delivered to the manufacturer or a specified recycling centre, the bounty is paid out in the form of a stable cryptocurrency such as BUSD/USDC/USDT. This not only incentivizes participation but also stabilizes the revenue gained through bounty in nations with unstable national currencies. For receiving a bounty, no bank account or KYC process is required, making it easily accessible to all participants.
The packaging is returned to the manufacturer by storers in larger batches to be reused or recycled, helping to mitigate possible shortfalls in sourcing raw materials. Our transparent technological solutions for product tracing can help companies achieve their sustainability goals, enhancing manufacturers’ positive reputations. Recyclium aims to manage all waste throughout its life cycle, aligning with international frameworks, and significantly reducing air, water, and soil pollution and its negative impact on human health and the environment. Through Recyclium, sustainable practices can be adopted and sustainability data incorporated into reporting practices, driving a more sustainable future.