Recycling Waste one block at a time
It’s no secret that blockchain applications are pushing the envelope well-beyond Satoshi Nakamoto’s initial use case as a cash alternative. To this end, the local director of KleanLoop, Ian Dawson, sat down with MBS’ Christopher Attard to discuss an innovative DLT-use case that focuses on a privatised recycling solution.
You’ve been in finance for a number of years. How does this project differ from your previous experience in the broader financial sector?
The clear and obvious need to incentivise environmentally sustainable practices. I think in general finance is still way behind where it needs to be with corporate social responsibility and stakeholder analysis. The mother of all inventions is necessity. Finance hasn’t needed to evolve nor have many businesses for many years. However, with the onset of mass extinction events and climate change, it is clear that any business that calls the earth home needs to evolve and use modern technology to reinvent, or at times revolutionise business practices. Sustainability, by many peoples reckoning, is one of the largest investment opportunities in history.
What is KleanLoop and why should I use it?
What happens to people’s waste and recycling after they bin it is somewhat of a mystery. In fact, most people don’t think about it at all. One of the founding principles behind the KleanLoop is transparency, which DLT allows for. This will prevent the ignorance and straight out corruption associated with waste and its surrounding industries. There have been many examples of articles by investigative journalists into the waste industry of late, and if you are at all concerned with the environment, then everyone should be interested in KleanLoop. Klean Industries has been in the ‘waste’ game for over 15 years and we know all about this situation and created the KleanLoop to circumvent the current inefficiencies and barriers to a more sustainable waste and recovery system. It will allow for the transparent and incentivised waste exchange between, individuals, businesses and governments and allow for more efficient and green solutions to our waste problems.
Malta director of KleanLoop, Ian Dawson
The ultimate goal of this application is to utilize technology to limit pollution, reduce waste, protect clean water and air, now and for future generations.
Clearly, there are many blockchain use cases. Could you explain how KleanLoop has used concepts of DLT to create a marketplace around recycled goods?
The ultimate goal of this application is to utilize technology to limit pollution, reduce waste, protect clean water and air, now and for future generations. With the creation of the KleanCoin, developing the KleanLoop DApp (decentralised application) and building out of the KleanLoop network, Klean Industries will streamline its operations and expand its existing presence. Eventually the company will also roll out a distributed ecosystem of agents participating in a connected, transparent and efficient network to optimize global waste. The KleanLoop will create an industry marketplace that provides a secure platform for buying and selling commodities and services surrounding waste management. In addition, A.I. analytics software integration will provide Klean Industries and other participants with accurate and valuable real-time data to facilitate industry growth and trade. Specifically, KleanLoop DLT will provide a payment medium and application to allow for fast, secure payments with significantly lower fees. This will remove the exchange barriers intrinsic to established waste and recycling systems. Enable real time access to accurate logistics, orders and sales information with complete transparency and access to all business information. This allows for greater efficiencies between users, which translates into faster and cheaper exchanges. Furthermore, we can create a transparent social voting system on businesses environmental performance to democratise the KleanLoop ecosystem. Users will also have a Klean Rating, which will be dependent and earned through best practices on the KleanLoop, allowing fellow users to make better exchange decisions based on current and past performance. Besides the obvious economic and environmental advantages, all users are further incentivized to reward network participants for beneficial actions.
Government recycling schemes already exist. Is it correct to say that your product is providing a privatised alternative to waste management?
In most parts of the developed world, yes, most local governments and municipalities do have collection schemes in place. However, many developing countries do not have that luxury, which presents an incredible opportunity and huge upside potential for the KleanLoop. In established systems, the KleanLoop will act as an alternative to largely inefficient and sometimes corrupt waste and recycling systems. Given our extensive experience in the sector around the world, we see a complete need for transparency and accountability in the way our waste is handled and how “green” it actually is. Unfortunately, a lot of recycled materials are either shipped off shore or secretly landfilled, this is unacceptable. We think DLT will allow the KleanLoop to correct and improve established systems and radically streamline and clean-up the entire industry in both developed and developing countries.
All blockchain projects have one thing in common – the importance of individual user responsibility. How does KleanLoop facilitate the aspect of personal agency in the marketplace?
We are all responsible for the environment and to make the best choices for the future. The KleanLoop gives users a choice and the knowledge, freedom and the responsibility to make the best possible best decisions about their waste. Whether you are an individual, business or government, access to all options especially when they concern the quality of our environment will become more and more important in the coming years. The KleanLoop DApp will provide three recycle options, drop-off, pick-up and KleanBid, offering the best possible options including, time, value and location to the user, based on KleanLoop resources. The KleanLoop will eliminate any fear of corruption and inefficiencies prevalent in current systems of waste management and allow all agents to participate in an empowering and inclusive system of recycling and resource management. Our application will make the buying and selling of waste products more accountable and profitable. The economic success of the DApp is also bolstered by ever increasing environmental regulations and political drivers that are desperate for this transparent solution. All users will know: where their waste goes, how it will be recycled, and by whom and how “green” it really is.
In its current state, KleanLoop is largely oriented around e-waste. Was there any reason you chose this specific area, and will the company expand into a broader marketplace?
Although our User Experience video is displaying a potential E-waste solution, users of the KleanLoop will be able to access all forms of waste and current industry information. As the ecosystem grows, the user data base will expand. The algorithm’s speed and accuracy will improve, eventually culminating in an all-encompassing, environmentally responsible waste exchange that not only is economically beneficial but will also solve the problems of our current waste and recycling disposal schemes. In short, all waste will have value.
You will be present at the Malta Blockchain Summit this fall. Do you have anything special planned for the biggest DLT summit on the island?
Absolutely, we will be in attendance and exhibiting at stand number 16, just to the left after you have entered the expo floor.
MBS will be the KleanLoop introduction to the world, the Team has been working very hard for their debut in Malta and hopefully will be well received by the DLT and Crypto community.
We have a packed agenda and look forward to meeting and discussing the project with all interested parties including key officials in Malta who we hope to forge a strong relationship with.
This is a sponsored post.