BantGo and Verofax have joined forces in a strategic partnership aimed at promoting environmental sustainability through the recycling of electronic products. BantGo, a UAE-based startup, specializes in rewarding individuals for their recycling efforts, while Verofax is a blockchain traceability company also based in the UAE.
The primary objective of this partnership is to develop a project that incentivizes users to recycle their electronic devices by offering them both physical and digital rewards. These rewards will be in the form of NFTs (non-fungible tokens) through the impact2earn scheme. To ensure a seamless service delivery, a built-in validation system has been implemented, and recyclers will also receive a digital blockchain certificate.
The validation system assesses the condition of the electronic device and determines the recoverable materials it contains. This process may require secure bins and the use of smartphones preloaded with AI technology to identify the state of the item.
BantGo recently participated in the RawMaterials Accelerator program, which is supported by the European Union and offers grants to selected participants. It is worth noting that the concept of using tokens to incentivize recycling is not new. In 2019, the Catalan Ministry for Digital Policy and Public Administration organized a “Blockchain Challenge” that rewarded participants for presenting solutions to track, monitor, and encourage selective waste collection. This initiative was part of the Blockchain Strategy of Catalonia.
BantGo has been actively expanding through various partnerships. One such partnership was announced with Eco Way Holding, a CO2-free electric vehicle solution for the food and parcel delivery industry. The aim of this collaboration is to promote sustainability and innovation in deliveries and revolutionize e-waste recycling. As part of this partnership, Impact2Earn will be integrated into the delivery process, battery replacement points will serve as e-waste collection spots, and Impact2Earn NFTs will be minted.
BantGo has also partnered with the Association of Belarusian Business Abroad (ABBA) to accelerate the realization of its mission and expand its presence in key markets such as Finland, Poland, Estonia, and the United States. This partnership demonstrates their shared commitment to sustainability, innovation, and responsible business practices, all of which are essential for driving significant change in the recycling industry.