“Blockchain ecosystem” has become a common buzzword amongst cryptocurrency investors and traders globally. While everyone is talking about the blockchain ecosystem, one blockchain project is willing to take the leap and execute into the real ecosystem - that project is INVIZION.
Over the past few years, there has been a large amount of news about the supposedly “terrifying” environmental impact of the blockchain industry, specifically on the aspect of mining. Mainstream media outlets have been calling cryptocurrencies “an environmental disaster” and blockchains have even been compared to oil industry . It’s true, bitcoin mining, 1 2 and the cryptocurrency infrastructure in general, consumes a lot of energy. However, what critics won’t tell you is that it’s an extremely negligible fraction of the amount of energy that the fiat money and banking system uses. But what if we could reverse the equation altogether, and have a blockchain that actually produces energy instead of consuming it? And not just any energy: clean, renewable energy made out of waste. Sounds too good to be true? For INVIZION, this vision is a reality.
INVIZION is a project that combines blockchain technology, DeFi (Decentralized Finance) and IoT (Internet of Things) solutions to realize a single goal: recycling waste into renewable, green energy in the most efficient and technologically advanced way possible. The core of INVIZION is the NVZN token, built on the Ethereum network. Unlike many ERC-20 tokens, NVZN is not a sheer collectible without an intrinsic use value, but a utility token designed as a tool aiming to solve a specific problem: tracking waste to ensure effective accountability and compliance is maintained in the ownership process; while funding green energy projects that focus on a circular economy, with a waste to renewable mindset.
How exactly does INVIZION work?
The main idea is storing the entire lifecycle of waste on the blockchain - from its birth to its final resting place. When waste is produced, NVZN tokens are used to give it a certificate of origin - the waste can be as small as a bag of plastic bottles, that is then given a batch number. From there, every movement of the batch of bottles can be easily recorded on the blockchain using IoT devices. Using IoT to track packages is already a standard among tech giants - what INVIZION does is apply this concept to tracking waste, making it all easier and more efficient by adding blockchain technology into the equation. All suppliers, orders, invoices, shipments, quality checks and so on, is secured on the blockchain using smart contracts. Here’s where cryptographic advantages of blockchain technology come in handy: the smart contracts can be independently audited, but they can’t be forged, modified or in any way tampered with. Everything is transparent and nobody can cheat by disposing of waste in a way that’s harmful for the environment. The waste tracked, using NVZN tokens, has no other choice but to end up being used in a responsible, ecological way. In our example of the batch of plastic bottles, at the end of the cycle, INVIZION’s partner’s patented technology is used to microgrind the plastic into material suitable for building green energy farms, and the only byproduct of this process is water.
As of now, tracking waste is a semi-manual process that can be, and has previously been, exploited. INVIZION’s innovative method of using advanced Decentralized Finance solutions combined with Internet of Things devices makes the tracking process not only much simpler, but also more secure. By using smart contracts, blockchain technology can be applied to assure ethical disposal and recycling of waste. This is what NVZN has to offer - getting rid of ineffective, outdated methods of waste tracking, and replacing them with bullet-proof smart contracts that make every step of the tracking process as secure and reliable as a cryptocurrency transaction.
Making the waste tracking process fair and transparent is the core focus of INVIZION. Besides tracking the waste on the blockchain with the use of NVZN tokens, INVIZION enables additional methods of verifying that waste is really being turned into renewable, green energy. For example, the INVIZION website will not only keep up to date information on all the projects, but also supply live video feed from operation sites - holders of the NVZN tokens will be able to follow the entire process from start to the end, and see for themselves how industrial waste is being processed into material used to build green energy farms.
What INVIZION has to offer is not only a vision, but a reality - a reality in which the pinnacle of decentralized technology can be used to turn our planet into a better, safer, cleaner and greener place. Through an innovative combination of blockchain technology, Decentralized Finance solutions and IoT devices, INVIZION opens the door to a future in which waste is being turned into renewable energy in an efficient way. The future of the blockchain is green, and thanks to the NVZN token everyone is able to participate in this new, green future. No more empty talks about the “blockchain ecosystem”. Instead, let’s use blockchain to help the actual ecosystem.
New Scientist, Bitcoin has become an environmental, as well as financial, disaster https://www.newscientist.com/article/mg24032083-100-bitcoin-has-become-an-environmental-as-well-as-financial-disaster/
The Guardian, Bitcoin as big oil: the next big environmental fight? https://www.theguardian.com/commentisfree/2019/jan/17/bitcoin-big-oil-environment-energy