Scrapify Objectives:
- Bidding Platform:
The platform operates as a bidding platform, enabling proper price discovery and options for selling and buying at a larger scale, without completely depending on a few sellers or buyers. Sellers can list their waste items along with their desired price, and buyers can bid their desired value for the respective waste items from the seller.
- Carbon Credit Rewards:
The platform rewards carbon credits to sellers who sell their waste to empaneled buyers, promoting carbon trading. Carbon credits are generated by calculating the carbon emission level of sold waste items and storing it as a carbon credit in the blockchain. The platform plans to decentralize carbon credits to the level of 1 kg of CO2 emissions, creating a more granular approach to carbon accounting, which can help more accurately represent the emissions associated with specific waste products.
- Machine Learning:
The platform plans to use machine learning for better traceability of waste/scrap in compliance with guidelines. It will also use blockchain techniques and artificial intelligence to forecast waste generation.
- Transparency:
The platform aims to promote transparency by connecting buyers and sellers directly, without middlemen. It also rates buyers by their past performances for sellers to evaluate.
- Partnership:
The platform will partner with government authorities, corporations, municipalities, and local bodies to create awareness.
Startup Description
Scrapify is an online platform that facilitates the trading of waste items, connecting waste generators to waste buyers, promoting a circular economy, and reducing landfill waste. The platform allows waste generators to post details of their waste items, and waste buyers can bid on those items, creating a competitive market.
Scrapify aims to create a sustainable waste management ecosystem by providing a transparent, cost-effective, and efficient platform for waste trading, thereby reducing waste disposal costs and promoting the conservation of natural resources.
Scrpaify has developed an innovative approach to incentivize and reward recyclers for their efforts in reducing waste pollution. As a part of this approach, recyclers are awarded carbon credits equivalent to the amount of waste they recycle. These carbon credits are then loaded onto a blockchain and transformed into carbon coins. This approach not only encourages recycling but also helps to mitigate carbon emissions.
Business Model
An online bidding platform for trading waste and promoting a circular economy.
Business
Modal Type
Maturity
Type of
Sales
B2C, B2B
Are all the founders full-time on this
project?
Yes
Looking for an
opportunity to invest in companies
like Scrapify Ecotech Private Limited?
