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, has been actively engaging in various partnership agreements, including a collaboration with the Association of Belarusian Business Abroad (ABBA) to fulfill its mission. The partnership announcement between BantGo and Verofax has sparked new use cases on VeChain, a blockchain platform.
The primary objective of this partnership is to develop a project that incentivizes users to recycle their old electronic devices by offering them both physical and digital rewards. These rewards will be in the form of non-fungible tokens (NFTs) through the impact2earn scheme. To ensure a smooth service delivery, a built-in validation system has been designed, which assesses the condition of the electronic device and determines the recoverable materials it contains. Additionally, recyclers will receive a digital blockchain certificate.
The validation system necessitates secure bins, as it requires a smartphone equipped with artificial intelligence (AI) to identify the state of the item. BantGo recently participated in the RawMaterials Accelerator program, supported by the European Union, which also provided grants. It is important to note 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.
BantGo’s expansion through partnerships is evident in its recent collaboration with Eco Way Holding, a prominent CO2-free electric vehicle (EV) solution for the food and parcel delivery industry. The aim of this partnership is to promote sustainability and innovation in deliveries, as well as revolutionize e-waste recycling. As part of this initiative, Impact2Earn will be integrated into the delivery process, battery replacement points will be established as e-waste collection spots, and Impact2Earn NFTs will be minted.
Siarhei Zhyltsou, Founder and CEO of BantGo, expressed his enthusiasm for the partnership with Eco Way Holding, emphasizing their shared commitment to sustainability and innovation. The company has also partnered with the Association of Belarusian Business Abroad (ABBA) to accelerate its mission and expand its presence in key markets such as Finland, Poland, Estonia, and the United States. Zhyltsou believes that these partnerships reflect their dedication to sustainability, innovation, and responsible business practices, ultimately driving significant change in the recycling industry.