BantGo and Verofax have recently announced a strategic partnership aimed at promoting environmental sustainability through the recycling of electronic products. BantGo, a startup based in the UAE, offers rewards for recycling, while Verofax is a blockchain traceability company also based in the UAE.
The partnership intends to create a project that will incentivize users to recycle their electronic products by providing them with both physical and digital rewards. These rewards will be in the form of NFTs through the impact2earn scheme. To ensure a smooth service delivery, a built-in validation system has been developed, and recyclers will receive a digital blockchain certificate.
The collaboration between BantGo and Verofax involves the assessment of the condition of electronic devices and the recoverable materials they contain. This process requires a secure location for the bins and a smartphone preloaded with AI to identify the state of the item.
BantGo recently participated in the RawMaterials Accelerator program, which was supported by the European Union and included grants. The use of tokens to incentivize recycling is not a new concept, as demonstrated by the Blockchain Challenge organized by the Catalan Ministry for Digital Policy and Public Administration in 2019.
In addition to their partnership with Verofax, BantGo has also formed an agreement with Eco Way Holding, a CO2-free electric vehicle solution for the delivery industry. The goal of this partnership is to promote sustainability and innovation in deliveries and revolutionize e-waste recycling. Some of the initiatives include integrating Impact2Earn into the delivery process, creating battery replacement points as e-waste collection spots, and minting Impact2Earn NFTs.
Furthermore, BantGo has partnered with the Association of Belarusian Business Abroad (ABBA) to accelerate the realization of its mission and expand its presence in important markets such as Finland, Poland, Estonia, and the U.S. These partnerships reflect BantGo’s commitment to sustainability, innovation, and responsible business practices in the recycling industry.