Wastemonie is a platform created by Utopia Crest limited. Wastemonie allows people to exchange all forms of recyclable waste for digital tokens which can then be exchanged for money or credit for basic needs. Wastemonie uses blockchain technology to ensure a safe, secure, and transparent platform.
Utopia crest is a for-profit social enterprise that promotes environmental sustainability, socio-economic development, circular economy, and community health and awareness by providing convenient recycling services in both rural and urban areas. We give households and commercial institutions an avenue to create a stream of income from their waste. We also give opportunities to recycling startups to manage their businesses through us. Nigeria is plagued by floods that result in the loss of properties, accidents, health issues, and deaths. These floods are caused by the dumping of waste into drainages. To help in the fight against floods and many other waste-related problems, Utopia Crest limited created Wastemonie to encourage people to recycle their wastes instead of dumping them into drainages.
Our partners exchange waste at local collection centers in different parts of Nigeria and are awarded digital tokens for secure income and life-improving benefits that include access to utilities, health, work, life insurance, digital connectivity, and banking services. By providing secure and traceable sources of alternative income, we're empowering vulnerable communities with a path out of poverty. The different collection agents give us access to raw premium feedstock ready to be recycled into various forms.
Our solution is our token-for-recycling platform that stimulates partners of both medium and low communities to gain more value from recyclable waste. The solution is built on blockchain technology for maximum transparency and security that covers classes of partners, agents, and businesses. Our partners return their recyclables to the nearest agent within their host community, who then rewards them with wastemonie tokens per kilogram of recycled waste, which they can exchange for various services through their registered portal on the wastemonie platform. We in turn pay a premium fee to our agents to take the collected recyclable from them.
Businesses can also register for a dedicated platform on our application to manage their different collection needs and partners while setting their rates independently at zero cost to the startup. We are trying to create a Zero waste environment by fostering inclusively of all relevant stakeholders to be responsible for their environment and fight against climate change.
