INSPIRATION
I realized that Aptos has the potential to go beyond financial applications like token swaps, lending, etc. It can be a force for positive change in the real world. This inspired me to think about how blockchain technology could address pressing global issues like environmental sustainability and social impact. I wanted to harness Aptos's power not just for decentralized financial applications, but to make the world a better place.
PROBLEM STATEMENTS
Plastic bottles are among the most prevalent forms of waste pollution globally, with over 500 billion produced annually. Despite being fully recyclable, only around 7% of collected plastic bottles are turned into new bottles, while the rest contribute to environmental degradation. An estimated 8 million metric tons of plastic waste, including bottles, enter the oceans each year, posing a serious threat to ecosystems and human health.
The lack of sufficient public good initiatives has led to a decline in charitable donations. This reduction in funding further hinders efforts to address pressing social and environmental challenges, making it increasingly difficult to support causes that promote sustainable development and community well-being.
OUR SOLUTION
To address these problems, we are developing a smart reverse vending machine designed to accept any type of recyclable plastic bottle. These machines will be strategically placed in local areas such as malls and parks. Each machine functions as a specialized unit equipped to:
Authenticate users via RFID cards or QR codes.
Reject non-recyclable waste.
Determine the weight of recycled materials.
Operate with energy-efficient features.
The machine is connected to the GreenBack server, which will credit users with $GCoin for their recycling efforts. Users can then manage their earnings through a web application linked to their Aptos wallet. The $GCoin can either be donated to selected charities or swapped into Aptos coin for personal use.
This approach addresses the plastic waste problem by providing a tangible incentive for recycling, thus encouraging more individuals to participate and reducing the amount of plastic waste that ends up in landfills and oceans. Simultaneously, it offers a seamless way for users to earn rewards and contribute to charitable causes, fostering a culture of giving and support for public good initiatives.
FEATURES
Donation through DAOs
Charitable donations within GreenBack are managed using a DAO-based approach. Users receive voting power proportional to the amount of $GCoin they donate. Charitable causes needing funding are presented as proposals, which contain information about the cause and the required amount. Users with voting power can upvote or downvote these proposals. If a proposal is upvoted and meets the required threshold, it is executed, and the funds are transferred to the cause. This method allows for quicker responses to charitable needs, as it leverages community voting rather than waiting for individual donations.
Easy of Use
Intuitive interfaces for both the reverse vending machines and the web application, providing a detail metric of user's recycling activities inform of charts and figures.
Public Good Integration
Seamlessly combines recycling efforts with charitable contributions. Users do not need to spend from their limited income to donate to charity cause, we simply provide means to Earn And Donate.
Keyless Connect
Sign in with Google, rather than from a traditional secret key or wallet interactions. Keyless helps us to improve our user experience, helping us to onboard users from any internet background and especially in the regions where plastic pollution is extreme.
BENEFITS FOR USERS
Coupons and Achievements
Earn coupons from our partners for e-shopping, software, bills, and more.
Earn achievements NFTs for using GreenBack regularly to flaunt on your social media profiles.
TECHNICAL COMPONENTS
Reverse Vending Machine
Hardware for collecting and processing recyclable plastic bottles.
Smart Contracts
Blockchain-based contracts that manage $GCoin distribution, DAO voting, and fund allocation.
Web Server & Application
User interface for managing $GCoin, participating in DAO voting, and accessing rewards.
MARKET OPPORTUNITY
The market for sustainable and blockchain-based solutions has been expanding. The global recycling market is projected to reach $600 billion by 2030, driven by increasing environmental regulations and consumer demand for sustainable practices. Simultaneously, the cryptocurrency market continues to grow, with an estimated 420 million global cryptocurrency users and a market capitalization surpassing $1 trillion.
GreenBack leverages these trends by combining blockchain technology with recycling incentives, addressing both the need for enhanced waste management and the growing interest in digital rewards.
⚡ PROOF OF SUCESSS by EXAMPLE (POSE)
Sweat - Sweatcoin ecosystem
Sweat’s achievement in integrating blockchain with fitness rewards shows how effective incentivizing can be. By rewarding users with cryptocurrency for their physical activity, Sweat has proven that blockchain can drive engagement and value. Similarly, GreenBack’s use of blockchain to reward recycling with $GCoin and convert recycled waste into liquidity mirrors Sweat’s successful model. This success demonstrates that blockchain can effectively address both environmental and financial goals.
POTENTIAL IMPACTS
Reduction in Plastic Waste: By incentivizing the recycling of plastic bottles through the smart reverse vending machines, the project aims to significantly decrease the amount of plastic waste that ends up in landfills and oceans. This will help reduce environmental pollution and its associated harms to ecosystems and wildlife.
Increased Recycling Participation: The reward system, which provides $GCoin for recycling, encourages more people to engage in recycling activities. The convenience of having machines in local areas such as malls and parks, combined with the immediate feedback of earning rewards, makes recycling more accessible and appealing.
Enhanced Charitable Contributions: The integration of a donation feature allows users to easily contribute their $GCoin to selected charities. This seamless method of giving not only supports charitable causes but also promotes a culture of philanthropy by making it simple for users to direct their recycling rewards towards public good initiatives.
SUSTAINABILITY MODEL
We collect the recycled plastic bottles from the reverse vending machines and sell them to our partnered recycling companies. The revenue generated from these sales is added to the $GCoin liquidity pool, meaning that increased recycling leads to a higher liquidity for the $GCoin.
RESOURCES
Website | GitHub | Pitch Deck | Demo Video
PHOTOS
