To adequately understand the application of Ethereum DAO in waste management, an examination of the basic concepts becomes necessary. One such concept is Ethereum. Ethereum refers to a decentralized platform on the blockchain technology that allows developers to build and deploy decentralized applications (dApps). Ethereum runs smart contracts and these smart contracts are applications which run exactly as they are programmed. As such, they eliminate the possibility of third-party interference, censorship, downtime, and fraud.
According to Vitalik Buterin, the co-founder of Ethereum, the Ethereum dream began from the imagination of a platform that transcends just the financial use cases that are allowed by Bitcoin. Buterin has expressed hope that Ethereum will become the solution for all the use cases of blockchain that do not have a specialized system to aid their operations.
Since its inception, it has gone ahead to experience rapid growth and has also enjoyed rapid adoption by a lot of developers. Several companies are also contributing directly or indirectly to the adoption of Ethereum. For instance, JP Morgan and Microsoft are reportedly some of the organizations that have committed to support Ethereum development through the establishment of the Enterprise Ethereum Alliance. This alliance has the sole purpose of ensuring that the potential of Ethereum is realized across all industries.
Ethereum has contributed to the development of advanced solutions across several industries and the waste management industry is not left out. Waste management refers to all actions and activities involved in dealing with waste right from the production of the waste to its final disposal. That would include, waste collection, transportation, treatment, disposal, and even recycling.
Among other things, waste is managed so as to reduce the adverse effects of improper waste management on health and the environment. However, there is an inadequacy in the current waste management systems. Problems such as lack of proper collection mechanisms, disposal methods, and even lack of in-depth knowledge by the individuals about the environment have all contributed to the inadequacy of the current system. There is, therefore, a need to adopt a system that can foster proper waste management globally. It is in this sense that the application of Ethereum DAO in the waste management system becomes highly relevant.
DAO also was known as a Decentralized Autonomous Organization is simply an organization operated on smart contracts. Ethereum DAO is one of Ethereum applications and is designed to eliminate the need for middlemen. It can be programmed to digitally achieve all that traditional companies can, even in a more efficient manner. Smart contracts on which the Ethereum DAO operates are simply programs that execute functions just the exact way the creators developed them. Smart contracts can be used for different purposes, including but not limited to transferring of funds and can also be used in the waste management industry. For instance, the smart contracts can be set up to automatically transfer rewards to individuals that have properly managed their waste.
How Swachhcoin Projects Solves Waste Management Issues Using Ethereum Blockchain
Swachhcoin was developed on the Ethereum Blockchain and that endows it with the general innate features of the Blockchain technology. Swachhcoin was specifically built to solve waste management problems using the Ethereum Blockchain and it seeks to do that through different methods.
For one, Swachhcoin uses an extensive infrastructure that comprises of different smart contracts where all actions in the waste management process will be initiated and recorded in a transparent, traceable and irreversible manner. This gives room for adequate transparency in the waste management process. The fundamental properties and nature of the blockchain technology are such that altering codes, influencing or tampering with them are impossible.
Also, several DAO based actions are being carried out using the Ethereum blockchain so as to streamline the traditional functioning of the current waste management industry that is run on an obsolete infrastructure. This, in the long-run, will aid a faster and more effective waste management process while also eliminating all the issues characterizing the current waste management system.
The Swachh DAO, asides the typical features of a blockchain, also has advanced features. For instance, the SwBIN is programmed in such a way that it allows the feature of decentralized advertisement. With this feature, a Swachh token holder can use his tokens to pay for the advertisement of specific content on SwBIN at any location of his choice.
Swachhcoin also has the Rural Welfare program, the operation of which will be aided by the Swachh DAO. The Rural Welfare Program is a program which is neither philanthropic nor charitable. It is majorly an innovative program to set up waste storage facilities in some villages (and subsequent expansion to other villages) to encourage the villagers to store their waste in the waste storage facility. The waste will be collected and the village will receive the monetary reward in the form of Rural Welfare Funds based on the calculations done by the SwBIN reward calculator. It is expected that the reward will be used for the development of such villages. This process is aided by the Swachh DAO.
Another feature of the Swachh DAO is the Autonomous Philanthropy, where Swachhcoin funds for donation purposes are transferred to specific organizations in a manner which is fair and transparent. The infrastructure that exists on the Swachhcoin eliminates the possibility of funds not being distributed to the organization or person for which it was originally intended. All these are made possible as a result of the implementation of the Swachh DAO infrastructure.
In conclusion, the Swachhcoin through the robust application of Ethereum DAO has a lot of potential benefits both in the short term and in the long run. Such benefits include the creation of a global decentralized waste management ecosystem, the provision of a network that offers extensive infrastructure necessary for proper waste management and the positive alteration of people’s perception about waste to see it as a profitable untapped resource. In addition, it will also benefit the environment as it will lead to an improvement in the environment and ultimately contribute to the profitability of the waste management industry.
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