US firm RecycleGO is building an open-source blockchain platform for tracking the life cycle of recyclable materials.
The first phase of the project allows collaborators to identify the history of a particular plastic bottle from the moment it is created to when it is collected, converted back to its raw material form and shipped back to the manufacturer to make a new bottle. RecycleGo is a technology company that supports the recycling supply chain.
The new platform is said to provide irrefutable proof of the correct handling of any material, which is then made available to the entire recycling supply chain.
‘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,’ says RecycleGO founder Stan Chen.
Chen expects those using the solution during this first phase to see savings of 15% to 20% from supply chain optimisations. His company is now focused on scanning QR codes on plastic bottles to support the technology. RecycleGO expects to complete the proof of concept phase by the end of this year.
Meanwhile, the tech provider is partnering with major international brands that are setting sustainability targets such as achieving 25% recycled content by 2025.
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