New blockchain system launched to aid compliance

Written by: Jo Gallacher | Published:
The blockchain technology allows recycling companies to provide essential information to numerous parties

A new data system has been developed to create greater transparency in the recycling market.

The Traca blockchain technology solution allows recycling companies to provide essential information to producers, recyclers, regulators and the end destination in line with requirements from the Resources & Waste Strategy.

The data currently includes the verified gross mass (VGM) and electronic Annex VII form and will eventually also detail information needed for compliance such as inspection data and photos.

It uses ‘smart contracts’ which write the terms of an agreement directly into the system.

This means that once the terms have been met, the next step of the agreement is automatically triggered.

With these contracts built into the blockchain ledger, all parties can trust each step will automatically occur once the previous conditions have been met.

Traca has been developed by The Recycling Association and Marine Transport International and is based on Activeledger- a distributed ledger technology.

It builds on MTI’s SOLAS VGM product, which it launched three years ago to allow users to quickly input, verify and share VGM data.

Jody Cleworth, MTI founder and chief executive, said: “Recycling logistics is a complex sector with a multitude of systems and processes. Employees can carry on with their normal processes, and the adaptor automates that data between the various actors, with the smart contracts verifying the information.

“This way, we have a clear operational cost saving between all parties that are using the solution and the ability to deliver trusted data into the multitude of industry systems.”

The recycling industry is increasingly regulated and given material is passed on to numerous parties, it can be challenging to be compliant.

Simon Ellin, Recycling Association chief executive, said: “We need a system that is transparent from cradle [the producer] to grave [the reprocessor].

“Everyone involved in the shipment, from load point to customs; carrier to port operator; and shipper to end user, can review, trust and update data as required, with every change captured for all to see.

The Government indicated in its Resources and Waste Strategy that the regulator will be moving to an electronic Annex VII system over the next few years.

Ellin added that the Traca is set up to facilitate this.

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To find out more about Traca and how it can work for your organisation, visit RWW's conference Smart waste, smart resources on 16 October in Birmingham.

MD of Prismm Mike Jackson, who has been highly involved in development, will be demonstrating the Traca system and taking part in a discussion panel to explore the issues around waste tracking more widely. The conference will consider the opportunities and efficiencies that digitalisation can generate for waste and resource management.

Click here to book your ticket now.

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