Recytrust designed and developed the first-of-its-kind internet-connected digital weight scale that can be placed underneath any recycling bin to monitor weight at any given time. The hardware is also integrated with an RFID access control, to identify users and monitor their recycling performance.
Recytrust is the first matching platform, where businesses that generate streams of recyclables connect with recycling collectors to dramatically lower costs and increase profits for both parties.
Once a pickup of any measured volume of recyclable stream is confirmed then a unique tracking code is entered in Recytrust’ blockchain ledger that enables tracing of recyclables’ origin through their next life-cycles and background proof of circularity reports & certifications.
Recytrust’ blockchain-based smart contracts enables both sides to close the loop together by making a mutual agreement on every pickup and hold on to that agreement transparently, leading to long-term gains for all stakeholders. Every completed collection creates a unique smart contract on Ethereum blockchain to eliminate the need of other interactions, confirm service completion, and save time and money for everyone involved. In order to protect businesses and recycling collectors against the underestimated volume of recyclables, we leverage smart contracts to confirm and protect any credible collection service in a most transparent, trackable and irreversible way. Each smart contract only executes after both the 2 involved parties –business & recycling collectors- have agreed on the total weight and the type of recyclable stream that collected. That means that both parties approve the same hash, and the document hash (id) is copied to the approved list. Each Recytrust’ smart contract possess Blockchain properties.