Turning waste into a resource is key to a circular economy

Waste as one of the essencial keys in economy

Waste is a significant global issue. Increasing volumes of waste are being generated as the global population and living standards rise. Just in terms of household waste alone, each person in Europe is currently producing, on average, half of tonne of such waste. Only 40 % of it is reused or recycled.

Although the management of waste in the EU is improving all the time, the European economy is  currently still losing a considerable amount of potential ‘secondary raw materials’ such as metals, wood, glass, paper, plastics, which are present in waste streams.

The objectives and targets set in European legislation have been key drivers to improve waste management, stimulate innovation in recycling and limit the use of landfilling. Most importantly we need to create incentives to change consumer behaviour. If we re-manufacture, reuse and recycle, and if one industry’s waste becomes another’s raw material, we can move to a more circular economy where waste is eliminated and resources are used in an efficient and sustainable way.

WaCo – Solution for better awareness and accountability

A fundamental problem of improper waste management is the unavailability of awareness to consumers about disposing waste properly. People are not enlightedent enough about the effects of improper waste management on the environment. Most waste management rules have included the separation of waste from the source to efficiently channel the waste for reuse, recycling, or recovery options. Industry and households are the primary sources of waste products, and wastes are not correctly separated into biodegradable and non-degradable because the goverment has not provided the proper infrastructure to achive the separation.

The consumers that generate waste have zero knowledge about the transportation of waste products after leaving the source. The reason is because of inferior technology for tracking waste disposals – and that’s where we come in!

There is no accountability after the waste products have left the source; therefore, there is a rise in the littering of streets. With the introduction of the blockchain, a decentralized solution, information can be transferred between stakeholders in a very secure manner. Collaboration and cooperation between members of the waste management cycles will be enhanced, thereby facilitating good decision making.