June 18, 2024

Biota Association will use IOTA blockchain for recycling

The German recycling association Biota has launched a Deposit system using technologyIOTA distributed registry for plastic collection and its further disposal.

According to Biota, the Deposy project, in fact, is an intermediary that brings together recycling consumers and companies that recycle waste.

In addition to caring for the environment, the systemprovides for a monetary reward, the amount of which depends on the amount of plastic collected. The award will be calculated using QR codes, after which the user will be able to receive a small amount from the waste recycling plant.

Biota said that when implementing thisInitiative, she encountered some difficulties. For example, most people do not have a cryptocurrency wallet, so Biota began working with a Swiss broker Omoku to convert cryptocurrencies into regular money.

In addition, the payment for the assembled plastic is sosmall that hardly reaches the "dust limit" of Bitcoin or Ethereum. The IOTA network has become the best solution for micropayments due to its high bandwidth and no fees.

In September, IOTA entered into an agreement with automaker Jaguar Land Rover to develop a proof of concept (PoC) to track the use of renewable energy for charging cars.