There is increasing focus on the utilization of Blockchain technology to track hazardous materials and hazardous waste. Blockchain technology allows for a system where records can be stored, facts can be verified by anyone, and security is guaranteed. The software that would power such a system is called a “blockchain”.
Blockchains store information across a network of computers making them both decentralized and distributed. This means no central company or person owns the system and that everyone can use it and help run it. This makes it extremely difficult for any one person to take down the network or corrupt it. This is why it’s so beneficial for so many industries to use blockchain software, such as blockchain technology in real estate.
In essence, a blockchain is a super-secure digital ledger, where transactions records are kept chronologically and publicly. According to experts, the technology would also make it easier to track shipments of hazardous materials and waste. It could even help with regulatory compliance.
The management of hazardous materials/waste through blockchain would result in more open and coordinated movement among generators, transporters, users, and and recyclers. It would also enable the government to more efficiently and openly regulate hazardous materials movement and hazardous waste management. The imbalance between the organized and unorganized sectors would shrink and lead to increased transparency throughout the process.
Tracking Waste Using Blockchain Technology
The technology that powers cryptocurrencies like bitcoin are slowly making way into hazardous materials transportation and hazardous waste management.
As reported in Hacker Noon, Jody Cleworth, the CEO of Marine Transport International said, “The shipping of recovered materials is necessarily heavily regulated, and we’ve had a real impact in simplifying the process while remaining compliant.” Marine Transport International is a New Jersey-based freight forwarder. The company just completed a successful blockchain pilot. This pilot created a common tracking system linking up recycling suppliers, port operators, and ocean carriers.
Phil Rudoni, Chief Tech Officer at Rubicon said that “A big issue the waste industry faces is the lack of accountability for the end destination of recycled material. Rubicon is an Atlanta-based tech startup that provides cloud-based recycling and waste services.
It has always been a challenge to track hazardous materials and waste. With blockchain, it is believed that it would be much easier. It wouldn’t be so difficult to design a system where hazardous materials could be tagged with scannable Quick Response or QR-Codes (two-dimensional barcode) and then tracked at each step of the recycling supply chain. The tracking could be done by the generator, regulator, receiver, the general public, and any other interested person.
Examples of blockchain technology in waste management
The Several waste initiatives have seen the potential of incorporating blockchain technology. One if such initiative is the Plastic Bank, a global recycling venture founded in Vancouver by David Katz and Shaun Frankson. Its main aim is to reduce plastic waste in developing countries like Haiti, Peru, Colombia, and the Philippines. It has plans to extend it’s territory this year.
The Plastic Bank initiative pays people who bring plastic rubbish to bank recycling centers. One payment option is the use of blockchain-secured digital tokens. The tokens can be used to purchase things like food or phone-charging units in any store using the Plastic Bank app.
The plastic brought into the Plastic Bank is bought by companies and recycled into new consumer products. This system is more attractive because blockchain’s transparency means all parties can see and monitor where their effort and/or investment goes.