Chinese City Hangzhou Looks to Use Blockchain for Waste Sorting
Hangzhou, a city in east China, is reportedly looking to leverage blockchain technology in waste management.
Hangzhou, a Chinese city noted for its vigorous support for the fintech industry and home to the e-commerce giant Alibaba, has early taken the initiative in embracing blockchain technology by first writing it into its government report and backing a $1.6 billion blockchain fund.
An officer from the city’s Institute of Development and Planning disclosed that it is currently exploring to apply blockchain technology to waste sorting and disposal in collaboration with Hangzhou Association of Blockchain Technology and Application.
“A blockchain-based ecosystem will be built to get residential community, recycling companies, environmental groups and government authorities all involved, and we’ll also issue a corresponding token. It may provide a new model for waste sorting.”
According to the design, blockchain will be used in storing data related to waste disposal in a bid to record trash amount and trash tracking; all parties involved in the process will be a role in the public chain which records residents’ credit scores and token transactions.
“More than 10,000 tons of trash are produced per day in Hangzhou, blockchain could help get clear how waste is managed and what it costs to dispose these trash. On the other hand, residents will take more active part in the waste sorting process for the token rewards.”
Though no more details were disclosed, it marks the local government’s amicable attitude towards blockchain and token reward system.
Waste management becomes an urgent issue along with the unstoppable urbanization. It is expected that by 2050 world’s urban population will double, and by 2100 the growing urban population will be producing waste at a rate more than triple from today.
Prior to it, blockchain has been applied in the fields of finance, e-commerce and public welfare. Blockchain applications in more areas are expected and underway.