Blockchain based Waste Management

The environment is the most sought-after topic for discussion in global forums because of the alarming threat it faces. Waste Management is one of the major challenges after global warming that affects the environment and harmony of nature. Government and non-governmental organisations are working towards solutions for better waste management. Though in present-day technology is part of waste management, it is not an integral part of waste management in many countries. Current technology only helps in reducing manual intervention by automating waste collection and transportation. It also helps in the disposal of non-useful waste and recycles/reuse useful waste by converting them into raw materials. People are the major part of the waste management cycle, so without their involvement, it is extremely difficult to make any technology-based system successful. People’s involvement in waste management would increase if they are incentivized for proper segregation of wastes, reusing, recycling, disposal and even for spreading awareness. The supportive technology should automatically monitor waste management cycle, record important actions and react accordingly. Blockchain Technology with smart contracts, Artificial Intelligence and native cryptocurrency are sought after to address the challenges faced by the waste management industry. Blockchain provides immutability through cryptographically secure and distributed ledger method, incentivization and settlement in real time through native cryptocurrency. In this paper, we have analyzed the existing blockchain based solutions for waste management and how effective these solutions are in addressing the challenges the waste management industry faces.

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