Crypto Token Rewards for Ocean Cleanup? Norwegian Startup Nordic Ocean Watch’s New Offer
Rewards for Ocean Cleanup? Norwegian Startup Offers in Crypto
Cleaner beaches are great for everyone so says a Norwegian startup that is offering token rewards for recycling.
A Norwegian startup has come up with a way of using blockchain to clean beaches via token rewards for recycling. Dubbed Empower, the company is a product of successive work on the blockchain technology by Wilhelm Myer, one of the founders.
Myer’s company, Empower, has become a unique way of recycling using blockchain. The public, by removing plastic waste to any certified recycling station, is rewarded with waste tokens.
Incentivizing Waste Management on the Blockchain
Myer maintains it is just a matter of making picking up plastic an everyday activity, which simply means changing people’s mindsets when it comes to dealing with waste:
“The reason we have a high recycling rate in Norway is that you learn from being a kid that plastic has a value, you can pick it up and buy some candy with it… If we can do something like that in Indonesia, where people just drop plastic, we can give the value back to them.”
Empowers approach is not entirely new in Norway as the country has a practice where plastic bottles can be returned to shops for between 15 and 30 cents a bottle. Offering a decentralized alternative changes the landscape.
The company plans to make plastic recycling a global phenomenon with its first overseas collection point stationed on the Indonesian island of Bali in time for October’s Our Ocean Conference 2018 on October 29-30.
Myer started by working on a blockchain-based alternative to banking, trying to convince friends that decentralized methods of banking could not only be cheaper but actually safer. It was when Myer met Simen Knudsen, Nordic Ocean Watch CEO, that he began to formulate an idea which eventually blossomed into his current business. Knudsen broached the subject of cleaning beaches using blockchain and the rest, as Myer would say, is history.