PRESS RELEASE - Blockchain for sustainable development (at CES 2019)
How the Dutch blockchain startup Circularise will help communication in value chains to eliminate the concept of waste and accelerate the shift to a circular economy
Amsterdam, Netherlands, 08/12/2018 - Today, Circularise, a blockchain startup from the Netherlands, is showing its unique communications protocol (from here on system) that can be applied in virtually endless range of product value chains. Circularise system enables manufacturers, suppliers and recyclers in the value chain to share data in a secure way, get an oversight of the whereabouts of products and raw materials, get certifications, and to plan logistics and recycling activities for specific materials. Ultimately, Circularise communication system brings us closer to a more sustainable economic model, the circular economy, one product at a time.
Circularise and Circular Economy
Is there a reliable way for industries to create more value while reducing their dependence on natural resources? In recent years, research has shown that the circular economy—using and reusing natural resources as efficiently as possible and recovering as much value as possible of products, parts and materials at the end of each life cycle—is at least part of the answer. It is estimated that a circular economy can unlock USD4.5 trillion worth of economic growth in the coming decade. But its success heavily depends on more transparency and communication in supply chains.
The importance of communication among all economic actors: product designers, manufacturing industries, product distributors, the repair and reuse sector, and recycling and disposal industry cannot be overlooked. Wasted time, money and resources are just some of the issues companies face because of bad communication. Other outcomes include PR nightmares and missed opportunities for innovation, while efficient communication creates transparency and trust, and contributes to sustainable business. Hence, many companies nowadays want to share data to become more transparent but also stay in control of what exactly they share. This paradox seems almost too hard to solve, but it is possible. That’s where Circularise comes in place.
Providing a system where all stakeholders can be held accountable for their actions, audit results can be published and shared, and information can be exchanged in a flexible way, is key. Circularise is approaching this issue in an unique way, by using blockchain technology and zero-knowledge proof – allowing relevant stakeholders to come together and have direct access to any critical information they might need. Circularise communications protocol allows any stakeholder to add information and communicate about individual physical objects (products, parts, materials and so forth) in such a way that:
Users remain the owner of their data, even if they do not own the object anymore
Users decide whether they share the data and if so, with whom
Trusting a central party is not required
Since 2017 Circularise is working with multiple partners in the framework of H2020 C-SERVEES project backed by the European Union. Together these parties are developing a solution that aims to boost a resource-efficient circular economy in the electrical and electronic (E&E) sector through the potential synergies of two major revolutions of our time: the circular economy and the Industry 4.0.
Circularise has already conducted several successful pilot programs with the recycling plant in Italy and a furniture manufacturer in NL. In 2019, Circularise will be rolling out a number of new projects with partners from the fashion/textile and beverage industries.
Circularise has had many successes including:
Approximately $1M raised from several bodies of the European Union
Successful pilots with the recycling plant in Italy and a manufacturer in the Netherlands
Partnering with over 18 organizations
Numerous awards including EIT Awards, LAUNCH Innovator, Connekt Affiliation Awards, YES!Delft Startups Best Financial Case
Come visit us at CES 2019, Tuesday, January 8 through Friday, January 11, at the Holland Pavilion in Eureka Park, Sands Hall G Booth 51729 and learn more about our solution and the applicability for your industry.
The Circularise Team
For more information (interview requests):
Phone: +31 85 303 3972