Roland Berger consultancy has partnered with the blockchain service provider DFINITY to address the growing global waste issue.
The global management consultancy firm Roland Berger has announced its partnership in the sphere of waste management with the DFINITY Foundation, a Swiss-based not-for-profit organization that promotes the Internet Computer blockchain.
Earlier this year, Roland Berger introduced the Voluntary Recycling Credits (VRC) standard for global waste management. With the help of blockchain technology, the firm hopes to not only incentivize recycling but also ensure secure and transparent tracking of these offset activities.
VRC standard is inspired by the Voluntary Emission Reduction (VER) model existing in the carbon market. The new standard for waste recycling defines standard units for an amount of recycled materials, like aluminium or plastic.
The incorporation of blockchain into the system is supposed to guarantee transparent, auditable, and secure records of recycling credits and transactions. Moreover, blockchain’s immutability ensures that credit records cannot be altered or duplicated, maintaining the integrity of the entire VRC system.
Roland Berger chose DFINITY as a technology partner for its new system. Therefore, the sustainability solution will be built on top of the Internet Computer blockchain. It is a general-purpose, layer-one blockchain that performs some functions similar to a cloud environment.
According to its developers, the blockchain processes over 750 million transactions daily in its second year of operations. It is also “capable of hosting social networks and enterprise systems, providing an alternative to the Legacy IT stack.” Furthermore, the Internet Computer blockchain boasts its high energy efficiency.
“Addressing the global waste crisis requires not just innovation, but collaboration at an unprecedented scale. With the development of the VRC platform, we are bridging the realms of technology and sustainability to forge a cleaner future. I am immensely proud of our contribution to this pioneering initiative, and we have a unique opportunity to redefine waste management and make tangible strides in environmental stewardship.”
Hani Tohme, Managing Partner at Roland Berger Middle East