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WasteCoin is a blockchain application that educates and rewards users for their recycling effort with the wastecoin token which can be used to purchase Items at our marketplace. WasteCoin is hinged on SDG goal 11 - Sustainable Cities and Communities. We leverage technology to engineer and change perspectives towards recycling which have been a subtle yet a key driver in Climate Change and Environmental Degradation.
Development. We are currently doing internal test on some features done and getting feedback.
At WasteCoin, we strongly believe that if the social culture around waste disposal is changed for good, recycling will drastically improve. Thus, our long-term goal is to drive a global recycling renaissance which would in turn improve environmental sustainability. However we are quite aware, that it is a long shot and would require we start small:
Our immediate goal is to create a community of One million active recyclers within the UK, Saudi Arabia, and Nigeria as well as scan no less than 5000 tons of recyclables by the end of 2024.
As soon as we have a vibrant recycling community, we then proceed to share recycling bins within users’ communities for collection. These recyclables would be sold to our partnering recycling firms at current rates. Thus, the more communities we can capture the more revenue/profit.
Collaborate with more marketplace vendors and expand into more countries and collection of other recyclables
However, our goal in the next immediate six months (in line with the first milestone) is to be able to complete the development of the WasteCoin application and launch to gain no less than 250,000 users (recyclers) within the first six months of launch
To accomplish the above we are looking to raise funding to expand our product development team with
Problem
It is evident today that there is no significant improvement in world recycling rates which is still less than 20% for the past three decades. Over 90% of recyclable waste is either incinerated, dumped in landfills, or ends up in our water bodies. Thus, everyone is actively contributing to the degradation of the environment and accelerating climate change. Yes, there are various recycling efforts helping to mitigate. However, it is obvious that they are not effective for the following reasons:
Solution
At WasteCoin, we strongly believe that if the social culture around waste disposal is changed for good, recycling will drastically improve. Thus, WasteCoin is a blockchain application that educates and rewards users for their recycling effort with the wastecoin token which can be used to purchase Items at our marketplace.
How do you use Stellar in your solution?
In order to achieve our long-term goal, there is no better technology than Blockchain to help us. WasteCoin is a decentralized token application that would be accessible to anyone and everyone, thus, the tokenization process requires transparency, quickness, and real-time transactions that can be tracked. Here, the Stellar blockchain technology would be integrated to:
Target Market
Our Market Audience target is generation Z (less than 40 years of age). They are enthusiastic about technology, blockchain, and cryptocurrency. We chose to make them our core customers because they are the present and future parents. The recycling culture they would imbibe from wastecoin would be transferred to the younger generation as such we can be assured of a positive global social change towards recycling.
Revenue Model
We’ll make money via:
Sales and Financial Forecast
Based on our forecast, we won't be getting any revenue in the first two years as we are committed to growing sustainable communities of active recyclers. Thus, by the end of 2024, and with 1 million users, we’ll initiate milestone II, at which stage, there will income from the sales commission of the recyclables. Averagely per annum, we’ll make sales no less than $300,000. By year 5, with a user growth rate of 5% per annum, we’ll have achieved some financial stability with a net profit of $423,000.
Industry and Market Research
According to Statistica, the global waste recycling services market was valued at 55.1 billion U.S. dollars in 2020, and was estimated at 57.69 billion U.S. dollars in 2021. The market is expected to grow considerably in the coming years as consumer awareness about the environmental impacts of waste increases. By 2028, it is forecast that the global waste recycling services market will have reached a value of almost 90 billion U.S. dollars, registering a CAGR of 4.8 percent during the forecast period 2021 to 2030.
Competition
We have the likes of Plastic Bank in Canada with expansion plans in Asia and WeCycler in Nigeria with a typical traditional approach to recycling. While Plastic bank has a mobile app, both are limited to only areas of operations. For instance, Ade in Nigeria can’t use Plastic Bank because they have no operational base in Nigeria, while Ade needs to live in Lagos, Nigeria before he can use WeCycler. These are some of the loopholes WasteCoin would solve as a global platform of recyclers as we create communities of recyclers across the globe and empower them to recycle as well as reward them while at it.
Marketing and Sales
Thus, Our marketing strategy involves
Blockchain Engineer: $10,000
Product Designer: $9,000
Marketing & Ads: $16,000
App Hosting and Domain services: $5,000
Name: Olagunju Daniel
Position: Chief Product Officer
Bio: He has over 4 years of experience in Software Development, Project Management, and Product Design.
Name: Anthony Ajanaku
Position: Chief Executive Officer
Bio: He has over 4 years of experience in Marketing, Business Operations, Waste Management, and Plastic Recycling.
Name: Enad Talal Wafa
Position: Chief Operating Officer
Bio: He has over 4 years of experience in Business Development and is an avid enthusiast of environmental sustainability
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has been awarded to the project in XLM. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.