The technology of blockchain has helped initiate a lot of projects recently. With the success of cryptocurrencies, new startups keep introducing their tokens in the digital market. One such project is that of 4NEW.
The main aim behind 4NEW is to solve two major global problems of waste surplus and energy shortage. According to their website, 4NEW is the world's first eco-friendly, tangible, waste to energy blockchain solution.
With the help of the blockchain technology, they can eradicate cash dependency, inefficiencies, and fraud as everything is recorded on a decentralized, transparent, and secure public ledger. Moreover, it would allow this sustainable platform to grow globally and on a larger scale.
How it works
The main working of the project includes converting the waste generated by households on a daily basis to energy, which is then either sold to the national grid or back to the same household from where it was initially generated. 4NEW plans to operate in the utility sector owing to its services.
The end product of the converted waste is processed in the 4NEW plant, which will help turn turbines to generate electricity. In this way, the waste gets converted as soon as it is received and ensures zero to landfill. The electricity generated is then sold to either the end customer or the national grid.
The project also ensures that their 4NEW plant is located close to urban areas, which usually have a high carbon footprint and responsible for a higher proportion of the total waste contribution. This would, in turn, allow the carbon footprint of transportation and delivery of waste to be minimized.
The people behind the working plan of 4NEW have ensured that minimal waste is generated throughout the whole process. For instance, they don't use any landfills in their business model, they ensure the water used during the process is kept to a minimum and isn't wasted, and that whatever water is generated as part of the end process, is clean and treated for further consumption.
4NEW plans to launch operations on three separate sites in 2018.
The problems faced and solutions provided
Since the 1970's one of the major problems of the world includes general waste management. Due to the industrial revolution, growing population and its demands, and the problem of limited resources, manufacturing of goods have noticed a high. This has, in turn, led to the disposal of these products by the world population into landfills. However, with the growing population also came a growing demand for land. As a result, setting up landfills for all our waste is not a long-term viable solution.
According to 4NEW's whitepaper, the world population is estimated to grow to 10 billion by 2050, thanks to the improving healthcare. However, it is important to understand that the planet will not have sufficient resources, infrastructure or solutions available to solve the burdens of this increasing population.
With the 4NEW project, a much-needed solution can be implemented. The main idea is to have the blockchain technology built on top of the underlying treatment infrastructure, covering the entire supply chain from the collection of waste generation to sale of energy units to the national grid or between consumers and industry peers. This will even help them to support the energy consumption costs and will help make it a profitable endeavor.
Conclusion
The world is in a dire need for sustainable projects. Sustainability development has been an important area of study recently and seems to be the solution for all the current world problems. The current situation of increasing pollution, growing population and diminishing natural resources is a cause for concern.
It is important to address these issues now, before the consequences increases. Coming up with such solutions and implementing them is the first step towards sustainability. Despite having plenty of projects focusing on water surplus and energy shortage, 4NEW is the only one to tie up the ecosystem with the blockchain technology. They plan to revolutionize the waste and energy industries by offering services as a wholesaler within the utility sector that is fully integrated with the decentralized platform of blockchain.
This startup shows a lot of promise. The demand for such a project is high, which is why it will prove to be a profitable endeavour for investors and users of the platform.
Website: https://www.4new.co.uk/
Whitepaper: https://www.4new.co.uk/assets/4new_whitepaper-f786c0073569fb0026aebe363b4dd78cc8263aae4c5b26e27f8413e8c48df370.pdf
Blog by ollivander7
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