The WaCo project is a blockchain-based solution for the problems facing the waste management sector. WaCo focuses mainly on household waste, which is one of the biggest sources of municipal waste.
The focus point is to put the center view in the WTS APP with the ValueGo® Blockchain can easly support handling and processing of household waste, done in an efficient and eco-friendly manner.
How WaCo will Revolutionize Waste Management
Some of the byproducts of the waste management cycle are timber, paper, glass bottles, and electricity. The WaCo projects will utilize a decentralized ecosystem that is governed autonomously using smart contracts to bring efficiency to the waste recycling sector.
WaCo relies on various innovative technologies that will ensure waste management is highly productive, efficient, and sustainable. The data generated using their revolutionary solutions will be used to enhance the process of managing household waste to reduce its environmental impact.
A key focus of the WaCo ecosystem will be data management. Huge volumes of data will be generated directly from users. The data will be processed using advanced analytical tools for improving efficiency in the waste management industry. By analyzing the data, it will be possible to make suggestions and develop solutions for the betterment of the waste management sector.
One of the main problems plaguing the waste management sector is data management. Today, there is too much data and too much waste generated daily for it to be handled with optimal efficiency. One reason for this is that data handling practices used in the sector are inadequate. It often entails recording data on physical paper, which has to be delivered to various entities within the ecosystem. That data could be lost or damaged as it is being shipped.
Another issue with data processing in the waste management sector is that data is generated incrementally. As the waste moves higher up the processing chain, more data is generated. Most of the different steps with the waste management sector have different systems for recording and analyzing the data. Consequently, not only is there a huge volume of data, it is highly fragmented.
The WaCo project will release an app that will ensure all data handling within the waste management sector takes place within one platform. It can collect data, analyze it, and share it with relevant stakeholders within the sector. These stakeholders can then analyze the data and come up with coherent solutions for waste management. Various members of the ecosystem can work better together since they will all be reading from the same script.
Members of the ecosystem can communicate with each other and suggest improvements that need to be made in different steps to improve the efficiency of the sector. Most of the data obtained within the waste disposal sector is often unreliable. However, the use of the WaCo blockchain could change all that. It will ensure that stakeholders within the sector receive high quality and reliable data, which is actionable and verifiable.
Incentivizing Members to Participate
Due to the highly fragmented nature of the waste management sector, profit margins are often low. However, WaCo has a plan to turn waste into gold for participants. They will achieve this by incentivizing members to be part of the ecosystem. Participants within the ecosystem are paid using the WaCo token.
The use of the WaCo token is a great way of ensuring that those who take time to generate the relevant data are rewarded for their effort. Besides that, they will be incentivized to provide accurate data to protect the value of the tokens they receive. Members will understand that the token is only as valuable as the quality of the data generated within the WaCo ecosystem and its real-world applications.