Delving into the innovative practices of a Dubai-based startup that harnesses blockchain to combat landfill problems through incentivized e-waste recycling.
In Brief
Blockchain startups This initiative aims to foster a deeper connection between people and the natural environment.
Electronic waste presents an opportunity for creating more sustainable alternatives.
BANTgo’s innovative GO-CYCLE solution is designed to tackle the pressing issue of global electronic waste.
In 2021, the number of active mobile phone users reached approximately 5.3 billion, according to StockApps, while Statista estimated around 6.3 billion devices, projecting that number to grow to about 7.7 billion within five years. It's clear that there’s a gradual upward trend.
We talked to CEO BANTgo Siarhei Zhyltsou Despite the differing estimates, if we consider even the lower numbers, it implies that nearly 67% of individuals globally own and utilize mobile devices.
- What market trends do you see?
- Each mobile device is composed of multiple circuit boards and connectors that rely on rare metals mined from the earth. As indicated by Phys.org, the environmental consequences of these practices could be far more significant than we currently acknowledge.
- Each electronic device is made up of many circuit boards and connectors sourced from rare metals that are extracted through mining. According to Phys.org, the environmental ramifications of this could be much larger than anticipated.
- Let's clarify what 'electronic waste' means, defined as a type of refuse comprising discarded electronic devices and their components (known in English as WEEE, or waste electrical and electronic equipment). These wastes are categorized based on their hazardous material content.
- Who exactly is your ideal customer?
- How do you plan to sell your product?
- In simpler terms, electronic waste includes old gadgets we no longer use, like smartphones, refrigerators, washing machines, televisions, and other electronic devices. The Global E-Waste Monitor reported that in 2019 alone, the world generated 53 million tons of such waste. The UNU contributed to a study on recycling electrical equipment across different countries.
What market trends do you see?
Currently, e-waste comprises more mass than 350 cruise ships or the combined weight of all adult individuals in Europe. The Global E-Waste Monitor emphasizes that this waste could stretch in a single line for 125 kilometers.
Our organization has assembled a competent international team of professionals from the US and Belarus specializing in IT, advertising technology, product development, and talent acquisition, all with experience in launching and nurturing VC-backed startups.
Further, we have established a local presence in Dubai, working closely with leading food delivery services and logistics applications to bolster our fundraising, business development, and sales efforts in the local market.
Our local team collaborates with leading food delivery services and logistics applications to support our fundraising efforts, business development initiatives, and sales strategies in the area. electronic waste According to the 2020 Global E-waste Monitor report, only about 17.4% of electronic waste is recycled. Experts estimate this waste contains around 50 tons of mercury and 71 thousand tons of brominated flame retardants, yet only seven countries are actively managing this waste. The value of the recoverable materials exceeds $57 billion, indicating a significant amount of valuable—and costly—resources.
The founders face a personal dilemma regarding the disposal of electronics, batteries, and damaged chargers. To fully understand the problem, the BANTgo founders personally tested their primary product, GO-OOH, by working as couriers for several months. United Nations University We successfully engaged over 1,500 users of food delivery services in Belarus, discovering that more than half of them, much like ourselves, are willing to pay for the transfer of recyclable electronic waste to delivery personnel. Our blockchain technology facilitates tracking and accounting from the user to the recycling endpoint through the courier and intermediary storage locations at catering points visited by couriers. Our personal experiences show that the existing delivery system suits the transportation of valuable recyclables; food couriers can efficiently transport these items.
In our business model, we cater to companies as a B2B solution. Our ideal clients are food delivery services grappling with fierce competition and seeking ways to expand their market presence. They must adopt eco-friendly marketing strategies to resonate with a younger demographic.
Each mobile device is composed of multiple circuit boards and connectors that rely on rare metals mined from the earth. As indicated by Phys.org, the environmental consequences of these practices could be far more significant than we currently acknowledge.
GO-OOH is tailored for food delivery services that are aggressively competing and struggling to expand their market influence.
Moreover, it’s important for our business clientele to elevate their Environmental, Social, and Governance (ESG) standards to attract and retain employees keen on working for environmentally conscious organizations. Electronics manufacturers, legally mandated to recycle a certain percentage of their products, can also generate additional revenue by disclosing data on the types and quantities of devices collected at recycling facilities. digital marketing In this B2B context, GO-OOH acts as a complementary offering to existing popular services.
Additionally, we have a local team in Dubai The system is designed for multiple stakeholders who initially may not trust one another, ensuring reliable data for processing and evaluation. This framework provides an excellent opportunity to implement GO-OOH across various continents. In many regions, the necessary infrastructure is already in place, such as food delivery services, valuable yet unrecycled electronics, and individuals motivated to adopt more sustainable living practices without geographical constraints.
Each electronic device is made up of many circuit boards and connectors sourced from rare metals that are extracted through mining. According to Phys.org, the environmental ramifications of this could be much larger than anticipated.
By guaranteeing that recyclables are directed toward recycling facilities rather than ending up in landfills, this initiative not only rewards users but also delivers accurate data to electronics manufacturers regarding the volume, types, and recycling rates of their products.
Let's clarify what 'electronic waste' means, defined as a type of refuse comprising discarded electronic devices and their components (known in English as WEEE, or waste electrical and electronic equipment). These wastes are categorized based on their hazardous material content.
This initiative ensures that recyclables find their way into recycling facilities instead of landfills, rewarding participants while providing electronics manufacturers with precise insights on the quantity, species, and recycling rates of their items.
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Please be aware that the content on this page is not legal, financial, or investment advice. It's crucial only to invest what you can afford to lose; if you have any uncertainties, consider seeking independent financial guidance. For more information, please review the issuer's terms and conditions as well as the support resources. MetaversePost strives for accuracy and impartial reporting, but market situations can change without prior notice. Media-as-a-Service Damir serves as the team lead, product manager, and editor at Metaverse Post, focusing on topics including AI, machine learning, the metaverse, and Web3. His articles draw a massive audience of over a million readers monthly. With a decade of experience in SEO and digital marketing, Damir has contributed to renowned publications like Mashable, Wired, Cointelegraph, The New Yorker, and others. As a digital nomad, he travels among the UAE, Turkey, Russia, and the CIS while leveraging his physics degree to navigate the complex digital landscape. games and metaverses .
In simpler terms, electronic waste includes old gadgets we no longer use, like smartphones, refrigerators, washing machines, televisions, and other electronic devices. The Global E-Waste Monitor reported that in 2019 alone, the world generated 53 million tons of such waste. The UNU contributed to a study on recycling electrical equipment across different countries.
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