PALO ALTO, Calif., Dec. 11, 2019 /PRNewswire-PRWeb/ -- Addressing the global issue of e-waste pile up and pollution, HashCash Consultants is all set to assist enterprises and governments in systematic recycling of used technology through Blockchain solutions. The initiative will ensure that the e-recyclables are tracked throughout the supply chain till the end destination, instead of getting dumped in some landfill.
Speaking about the project, Raj Chowdhury, CEO, HashCash Consultants, commented, "HashCash's Blockchain initiative offers a comprehensive approach, which involves the management of the e-waste supply chain and bringing accountability through record-keeping and tracking of the recyclables. We are thinking of introducing an added feature where anyone can exchange their old gadgets for digital tokens. This will encourage them to refrain from dumping it just anywhere."
Importance of E-waste Recycle:
Frequently, used technology such as mobile phones, computers, DVD players, etc. end up in landfills. Minerals such as cobalt lithium, tungsten, etc. present in electronics demand responsible disposal as chemical reaction from these contaminates air, water, and soil, aggravating the global environmental pollution scenario.
Besides that these minerals can be extracted from old gadgets and recycled to be used for manufacturing new products. That is a sustainable and environmentally responsible way of sourcing minerals.
There are mandates in place concerning the recycling of waste electrical and electronic equipment or WEEE. That the e-waste is getting dumped in landfills, proves that the protocols are not being followed stringently, highlighting the loopholes in the present system.
HashCash's Blockchain-based E-Waste Management Solution:
Blockchain technology adds much-needed accountability in the recycling methods of e-waste. HashCash's initiative plans to work with governments, organizations, and manufacturers to register each recyclable electronic item into the Blockchain network.
The use of Blockchain in the supply and management of recyclables helps in effective tracking of the items, ensuring that it does not end up getting dumped in a landfill. The traceability of the system eliminates chance of ill practice or careless handling of recyclables.
HashCash's use of advanced cryptography in its Blockchain network makes all data entered in the blocks, immutable. It means that no one can falsify or tamper it. Above all, it allows organizations to track their progress in meeting the required recycling targets.
The proposed token system encourages consumers to exchange their old gadgets by contacting concerned network participants for digital tokens. Respective manufacturers can incentivize the tokenization process by offering special discounts on purchase of new gadgets and likewise.
Besides the aforesaid initiative, HashCash Consultants is working on an ongoing project concerning a Blockchain based waste management platform for monitoring, analysis, and management of waste disposal and recycle.
About HashCash Consultants:
HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing and more. HashCash runs US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers exchange and payment processor software solutions, ICO services and customized use cases. HashCash propels advancement in technology through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data and IoT though its platforms, products & services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for clients around the world.
SOURCE HashCash Consultants
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