Monday, April 2, 2018

Eco-friendly gold: Gold backed cryptocurrency company to pay individuals in tokens for simply recycling

For the most part, people involved in recycling their trash do so for altruistic motives rather than for profit.  However over in Malaysia, a company that runs a gold backed cryptocurrency now wants to pay people for helping the environment by issuing them tokens each time they recycle their garbage.

Hello-Gold is launching 500 vending machines across Malaysia that convert plastic bottles and aluminum cans to investment-grade gold. The fintech company has teamed up with Malaysia’s reversevending machine (RVM) company KLEAN to bring about a recycling scheme that offers Malaysians 0.00059 grams of gold for each recycled plastic bottle or aluminum can. 
After depositing the recyclables, they can then convert KLEAN e-credits into gold through an integration between the KLEAN digital wallet and the HelloGold mobile app. The e-credits can also be exchanged for airtime, smart card credit, and food vouchers, according to KLEAN’s website. – Economic Times of India
Now, isn't it a better idea to encourage people to clean up the planet by offering them incentives like gold rather than through the use of scare tactics such as man-made global warming?


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