Verifying green credits with digital transaction records
Certifying our promise to you: 1 Bottle Consumed = 1 Bottle Collected
You might be wondering, how can we possibly guarantee to fund the collection of one plastic bottle for each 16 oz (600ml) consumed through your REBO smart cap hydration tracker! Believe it or not, we can. Thanks to Blockchain technology.
Blockchain is essentially a digital transaction record that is duplicated and distributed across a network of computer systems, the chain. Each block in the chain has multiple transactions. Every time a new transaction is added, it gets added across the entire chain. This makes blockchain data nearly impossible to change, hack or cheat. Yet, straightforward when it’s used to reconcile and verify.
REBO and Plastic Bank can simultaneously reconcile blockchain data
REBO records the collective amount of water intake from its hydration trackers on a daily basis. Remember, the process of collecting this information was certified by the Gold Standard.
Simultaneously, Plastic Bank digitally records the number of plastic bottles collected in their block, which get sent along the same chain as REBO. Transaction data is reconciled between REBO and the Plastic Bank, ensuring the total number of green credits issued and sold are accurate. Once green credits are sold, the proceeds fund the collection of plastic pollution.
Blockchain allows REBO to maximize transparency and ease of auditing, decrease time needed for reconciliation, eliminate overhead costs for manual reconciliation and auditing, stay true to our values knowing 70% of blockchain is done with renewable energy
Public blockchain maximizes transparency and data-security
To get even more specific, REBO uses ethlereum public blockchain.
Our research found it the safest and easiest to program with the most developers and highest adoption globally.
Plus, ethlereum public blockchain is moving from a Proof of Work (PoW) to Proof of Stake (PoS) system that will have significantly lower energy consumption.
Now that our data flow design, engineering and links to blockchain are complete we chose to stay in the public system. The public blockchain system gives our stakeholders maximum transparency. Plus, data is most secure publicly.
Our choice in blockchain today, expands options for the future
We believe our choices in blockchain systems today pave the way for customer-focused improvements tomorrow.
We envision a future-state that issues REBO plastic credits directly in the form of a blockchain token, or currency.
But why stop there? As demand for sustainable, purpose-driven businesses only grows, we see opportunity to build an ecosystem using the same form of tokens.
Future-state tokens can integrate into multiple companies to fund sustainable efforts. Can you see it?
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