The process of collection of solid waste, from the point of production to the point of treatment or disposal is known under the name of Waste Management.
Global waste management market was valued at $285.0 billion in 2016, and is expected to reach $435.0 billion by 2023. It has increased due to globalization and a surge in population and GDP. Solid waste management has increased largely at a global scale.
A European Union report indicates that during 2014, 2,503 million tons of waste produced in households and other economic activities were produced:
47% of these wastes were incinerated,
36% of these wastes were recycled (without recovering energy from them)
7% of these wastes were incinerated (recovering energy from them)
10% of these wastes were landfilled
“Circular Economy” enables the automation of global trade transactions, manages large numbers of business partners and documents. BlockChain supports global trade activities with the tools needed to participate in the most highly-available and highly-scalable network in the most secure way. It alleviates costly delays and financial risks involved with imports and exports.
BlockChain and Internet of Things (IoT), are two of the most popular and powerful emerging technologies currently and the most suitable to solve the arising problem of Waste Management.