SigneBlock, a Grupo Signe spin off specialising in Blockchain, and Heura, an environmental consultancy and management company, have entered into a collaboration agreement to apply Blockchain technology to the optimisation of waste management. This is a pioneering project in Spain at both technological and environmental levels.
The collaboration agreement will enable environmental management processes to avail of the benefits of this technology and the implementation of systems that ensure compliance with extended producer responsibility requirements. The traceability and transparency offered by Blockchain helps to provide exact information on the entire process undergone by a waste stream, thus ensuring that it complies with all international legislation and facilitating traceability for all parties involved in the process.
The two companies will work together to provide integrated solutions that not only allow waste to be identified unequivocally but also allows the characteristics and geolocation of the waste to be incorporated into Blockchain. This will enable agile, secure monitoring, without the possibility of tampering, by all actors involved in the management of waste from production processes, be they producers, packagers or distributors.
The objective of this collaboration agreement is to act as a driver for the progressive development of the circular economy and help to achieve EU and UN targets for the period 2020-2030, a period in which changes in production models will be required for the purpose of protecting the environment.
Blockchain is a technology which, by means of interconnected distributed node networks in which all securely encrypted protected information can be traced, enables the construction of an interconnected ecosystem that is very resistant to cyberattacks, whilst providing complete transparency and reliability of information. The use of Blockchain in environmental management processes will give these processes a security that cannot be provided by any other technology.