RECICLOS & smart contracts

RECICLOS & smart contracts

RECICLOS & smart contracts

RECICLOS uses smart contracts to manage the rewarding programme in a transparent and efficient way

The RECICLOS system combines new digital technologies and blockchain technology, to acknowledge and reward those who perform recycling in a correct, transparent, efficient and effective way.

It is an innovative model that rewards sustainable incentives and also makes technology its main advantage. The citizen takes a picture of the waste, recycles it as usual in the corresponding container, and accumulates points to receive sustainable rewards.

The points accumulated by the people who participate in RECICLOS can be exchanged for discounts on public transport, bicycle rentals for a greater contribution in reducing the environmental impact, discounts at local shops, collective projects that improve the municipality through environmental and social collaborating entities or donations to NGOs.

 

Blockchain technology

Blockchain technology is among the most disruptive forces of the past decade. Its power to record, enable, and secure huge numbers and varieties of transactions, is unmatched. The same distributed ledger technology (DLT) that powers bitcoin also enables better execution of raffles, lotteries by purchasing tokens with RECICLOS for the participation to the said raffles and tokenised lottery participations, and for donations and crowdfunding.

To keep up the reward impetus, there is a need of total trust in the rewarding programme, and its transparency is key for both citizens and funding organisations. Thus, DLT are the right solution for providing such demanded transparency, traceability, auditability, in a distributed, compliant, and scalable way for the many local public administrations and companies involved in the waste management.

In RECICLOS, the truly and untampereable random choice of the lucky winners was developed in smartcontracts to contribute with transparency and equality the lotteries and raffles process, as well as to track all transactions among users.  The advantage of using smartcontracts is that they contribute strongly to the trust and confidence by citizens into the necessary belief that the rules are fairly applied to ALL.

A smart contract is a program that lives in a system not controlled by either party, in this case on the Alastria.io network and runs automatically: When a pre-programmed condition is triggered, not subject to any type of human assessment, the smart contract executes the corresponding contractual clause, in the case of RECICLOS to designate winners out of the participants, with a level of efficiency, transparency, and security so high that it does not need human notaries to inspect or witness the draw. Alastria is a non-profit association that promotes the digital economy through the development of decentralised ledger technologies/Blockchain.

The application of Smart Contracts is intended to reduce or eliminate the 24/7 management of the RECICLOS rewarding program, and the expenses and efforts to recruit and mobilize the citizens and public organizations on an increasingly larger geographic scale.

 

See more at positiveblockchain.io:

https://positiveblockchain.io/database/reciclos/ 

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