Circular economy – A new way of life.

KarmaCoins :
Thus, the journey to Zero waste begins at the source. The KarmaCoin App
will be the physical manifestation of the eco-blockchain operating at the
backend. This app will facilitate the data collection, monitoring, and
account keeping of wastes between individuals and enterprises based on
waste type and quantity through a user-friendly GUI. This app will enable a
transparent record-keeping ecosystem that rewards sustainable actions,
encourages users to set and achieve eco-goals for themselves and
challenge their peers, along with the ability to track carbon footprints over
time. The so-earned randomized tokenized rewards can then be used for
an in-app purchase of sustainable products and services.
Why do we do what we do?
We believe in technology-backed community-led action to bring about
systemic change leading to a climate-neutral society. Incentivization of
sustainable citizen behaviour can accelerate the pace of such action
through recognition and positive peer pressure.
How do we do it?
Good behaviour tends to wane if not acknowledged or rewarded. But we
can’t reward what we can’t measure. The ubiquitous nature of the mobile
phone makes it an excellent delivery platform for behavioural
interventions, education, monitoring, and encouraging positive behavioural
change. Hence, we aim to take the Goldilocks approach to apply
technology to make sustainable climate action a simple and enjoyable
social movement. The goal is to incentivise positive peer pressure to
encourage exponential actions creating a ripple effect toward a mass
climate movement, one global citizen at a time.
What are we doing?
While intentions form the basis, having companions motivates one to
champion a cause. Hence, having a virtual ‘habit crew’ of app users with
similar targets encourage them to keep pushing forward in the race to
sustainability.
The KarmaCoin App is our ClimateTech-based solution applying positive
reinforcement through incentivization of sustainable gestures, waste
management activities, up-cycling, and sustainability education. The
KarmaCoin App bridges individual sustainable gestures and sustainable
commercial services through a decentralised mobile application and
blockchain technology.
The process:
A blockchain-based unique automatic reward system is envisioned to
account for a user’s tangible and intangible sustainable behavior. The app
users would complete gamified challenges, earn awards and
achievements for every sustainable gesture, see how their carbon footprint
changes over time, challenge others, and inspire their network. These
rewards/coins would be converted to Blockchain-based tokens for
decentralised monetising within 18-24 months. These coins could be
utilized for in-app purchases of sustainable products/services to support
sustainable startups / MSMEs / organization.
Who will implement the idea and how :
For 1st phase we have our 700 households from Gurugram / Manesar area
who are receiving our services free of cost since one year . Just by
downloading our mobile application they can start interacting with their
waste and 3R ZeroWaste .
Post 1st phase interim = 3-6 months , we will go to full phase to entire
Gurugram/Manesar area wherein we are looking for 10% market share in 1
year ;
Phase 2 : 20 top Cities of India and UK .
Phase 3 : Global penetration country by country
Pre-requisites to the implementation if any :
Eco Conscious Individual with mobile phone with internet usage.