Sarah Kaplan - Washington Post
Blockchain Solutions for
Reverse Logistics in Recycling
Much like other cryptocurrency based projects, PlasticBanQ leverages its own PBQ token to provide functionality within the platform. PBQ is used to log recycling and logistics data to the blockchain and pay for transaction fees. The big difference is that PlasticBanQ is not performing an ICO, and will not set aside a predefined portion of the generated tokens. Instead PlasticBanQ will draw profits from transaction fees (on average 0.6 to 1.1% of transaction value) and data platform subscription fees, creating a closed-loop tokenized economy.
Note: PlasticBanQ will leverage a Proof of Stake (PoS) cryptocurrency platform. Unlike Proof of Work (PoW) cryptocurrencies like Bitcoin, PoS does not rely on raw processing power to secure the chain, making it far less energy intensive, and thus a more eco-friendly option for green projects.
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