Technology is constantly evolving. In every industry, new discoveries are made and new skills are learned, which is how companies of all kinds are able to advance. Cryptocurrency is a fairly recent creation in comparison to most technology, but it can actually provide benefits in more ways than you’d expect. While it might seem like advanced and confusing technology to some, it’s actually the key to kickstarting hazardous waste management. In fact, cryptocurrency and waste management are actually related more than people realize.

Block chain vs Cryptocurrency: What’s the Difference?

To better understand what cryptocurrency is, it’s important to distinguish it from the blockchain. Blockchain and cryptocurrency are two terms that are often used interchangeably. While the terms are related, they don’t mean the same thing. Cryptocurrency is a form of digital currency that can be exchanged, such as bitcoin. However, blockchain refers to the system that keeps track of the cryptocurrency transactions that are made.

How is Cryptocurrency Helping Waste Management?

A company called Benchmark International has a solution for waste management, and it’s all about cryptocurrency. They own their own cryptocurrency called Benchmark Token, which is often abbreviated to BMK. They are investing their cryptocurrency into a series of material recovery facilities, which are the key to properly managing waste.

Material recovery facilities take in waste a lot like a landfill does, but their goal is to reuse these materials instead of just dumping them. They sort the materials by weight and dimensions based on what the market wants to buy. Certain materials can then be sent to industries at a much more affordable price than buying them overseas.

Many places are running out of landfill space, so continuously dumping waste into landfills is not beneficial for our future. With material recovery facilities in place, more waste can be reused instead of dumped. Therefore, the damage to the environment will be greatly reduced.

In fact, even blockchain in general could help the future of waste management. Blockchain’s technology could make it easier to track waste and recyclable shipments. This would help keep reusable materials out of landfills. So, crypto currency and waste management should go together much more often to help reduce waste.

What Should People and Businesses be Aware of?

Investing in BMK can greatly impact the future of hazardous waste management. For everyone that invests in this crypto currency, more material recovery facilities can be created. With landfills, many valuable resources are being wasted, which hurts our environment. With these advanced facilities, waste management can become even easier though.

Even if you don’t want to invest in BMK, crypto currency and blockchain can still be a useful tool for better managing waste. While this technology might seem too advanced for some, it will only get more useful as the years go on. Therefore, it might be time to think outside of the box when it comes to waste management. Technology is constantly evolving in unusual ways, so it’s important to stay ahead of the game to keep our environment safe.

If you need help with or have questions about hazardous waste management, Hayward Environmental Consulting is here to help. We can offer comprehensive solutions when it comes to hazardous waste, so contact us for more information.