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Zhejiang HiCarbon Network Technology Co., Ltd. is a company dedicated to environmental technology and digital innovation, It was established on December 16,2022, and is located in the Binhai New Area of Fenghua Economic Development Zone, Ningbo City, Zhejiang Province. The company focuses on addressing marine pollu tion issues and promoting the sustainable utilization of marine resources through technologies such as the IoT, blockchain, and AI
In the traditional plastic recycling and production processes, traceability information is easily tampered with and lacks transparency, making it difficult to ensure the origin and quality of the products. This leads to low consumer trust in recycled plastic products. For example, some unscrupulous merchants pass off ordinary plastic as recycled plastic for sale, disrupting market order and infringing on consumer rights and interests
In the traditional plastic recycling and production processes, recycled plastic products face challenges in market promotion. They struggle to achieve the same brand premium as conventional plastic products. Consumers' awareness and acceptance of eco-friendly products are limited, which affects companies' profitability and enthusiasm for market promotion. For example, high-end products made from recycled plastics are priced higher than traditional plastic products, yet they still hold a small market share and need to enhance their brand influence. Traceability information is easily tampered with and lacks transparency, making it difficult to ensure the origin and quality of the products. This results in low consumer trust in recycled plastic products.
Facing increasingly stringent domestic and international environmental regulations, plastic companies face high compliance costs in production, recycling, and sales. Even minor oversights can lead to substantial fines and reputational damage. For example, the EU’s REACH regulation imposes strict limits on the content of hazardous substances in plastic products. Companies must invest significant resources in testing and compliance management to meet these requirements.
The plastic recycling and reuse industry chain involves multiple stages, where the connections between stages are often inefficient. There is a severe phenomenon of information silos, making it difficult to achieve closed-loop management. As a result, problems of resource waste and environmental pollution persist. For example, recycled plastic waste often cannot be delivered to processing companies in a timely manner due to the lack of an effective sorting and transportation system.
Blockchain technology provides tamper-proof traceability records for the plastic recycling and production processes, ensuring data authenticity and transparency, and laying the foundation for a trust mechanism across the entire industry chain. IoT technology enables real-time monitoring and data collection of plastic waste from its source to the end point. For example, smart recycling bins can automatically record the volume and types of waste deposited, providing data support for precise recycling. AI technology performs in-depth analysis and prediction on the vast amounts of collected data, optimizing recycling routes and improving production efficiency. For example, image recognition technology can automatically sort plastic waste, enhancing the quality of recycling.
The Back2Circle Platform integrates the recycling process by connecting fishermen, recycling stations, and processing companies. This ensures efficient collection and transportation of plastic waste, reducing recycling costs. In the processing stage,the platform provides technical support and quality monitoring to ensure that the quality of recycled plastic products meets standards and satisfies market demands. During the distribution phase, the platform leverages blockchain technology to enable product traceability and logistics tracking, ensuring the safety and traceability of products throughout the supply chain. In the certification stage, the platform, based on international standards and its own technical strengths, offers authoritative certification for recycled plastic products, enhancing their market competitiveness.
By leveraging blockchain technology to record environmental, social, and governance (ESG) data related to plastic recycling and reuse, companies can obtain a basis for ESG performance assessment. This data can be converted into business value, such as accessing green finance, enhancing brand image, and boosting market competitiveness, thereby driving sustainable development. The platform also provides transparent ESG information to consumers, guiding green consumption and promoting the entire industry chain’s shift toward sustainability.
A blockchain node deployment diagram involving multiple roles such as fishermen, factories, and customs authorities clearly illustrates the data interaction and consensus mechanisms among various nodes in the plastic recycling and reuse process. Smart contracts automatically execute data validation and recording, ensuring data authenticity and immutability, thereby providing technical support for a trust mechanism across the entire industry chain.
Smart contracts automatically trigger the OBP certification process based on predefined rules. When plastic products meet the certification criteria, the certification is completed and a certificate is generated. This approach enhances certification efficiency, reduces the risk of human intervention, ensures the fairness and authority of the certification results, and boosts market trust in certified products.
Brand empowerment: improve the sustainable image of the brand, win the trust of consumers, 85% of consumers tend to environmental protection brands. Business value: The price of certified products will be increased by 15%-20%, which will meet the trend of green consumption and enhance the added value of the brand. Market recognition: Obtain high recognition from consumers and partners to increase market share.
Industrial upgrading: promote circular economy, reduce carbon emissions from plastic production, and reduce the carbon footprint of certified products by more than 30%. Policy response: In line with the EU Directive on Single-use plastics, the US Plastic Convention and other regulations to reduce compliance risks. Environmental benefits: significantly reduce Marine litter, raise public awareness of Marine plastic pollution, and promote global environmental action.
Recycled Content: Ensuring that products contain a certain proportion of recycled materials.
Chain of Custody: Tracking the production, sales, and end-use of products to ensure the use of recycled materials.
Social and Environmental Practices: Focusing on the social and environmental impacts during the production process to ensure sustainable practices
Chemical Restrictions: Limiting the use of harmful chemicals to reduce environmental and human health risks
