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Manila Teams Up with ConsenSys to Pay Its Residents in ETH for Cleaning Garbage

  • Yuri Molchan
    📰 News

    Philippine authorities to launch an Ethereum-based decentralized app to reward Manila citizens with Ether for cleaning garbage from local beaches


Manila Teams Up with ConsenSys to Pay Its Residents in ETH for Cleaning Garbage
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Ethereum co-founder Joseph Lubin, who is also the head of ConsenSys, the world’s major DLT software developer, recently tweeted that the new Ethereum-based dApp (decentralized application) is going to reward people in Manila for picking rubbish from the city’s beaches.

That is going to be achieved by using ConsenSys Impact and Bounties Network, which will create a new model for cutting out the middlemen, and from now on people will be funding causes directly.

Philippines is a good starting point

Bounty is believed to be a promising dApp, since its users can receive compensation directly and on a transparent basis via a DLT network and its public ledger. The dApp is based on the Ethereum protocol, and it allows anybody to launch a bounty system and then reward those who participate with ETH coins. This is a way to support different initiatives.

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Garbage for crypto

A while ago, a subsidiary of ConsenSys, ConsenSys Impact, implemented a non-commercial blockchain-based initiative in order to urge people clean up beaches from plastic garbage. It is dubbed “Bounties for the Oceans: Philippines Pilot – Sustained, Verifiable Plastic Cleanups”.

As per the organisers of this program, pollution from plastic objects kills one million seabirds and around 100,000 sea mammals a year. Then, people themselves get to eat fish that eats plastic garbage in the ocean. So potential users of the new dApp are expected to submit a proof of them cleaning beaches that can be verified with blockchain. They will be rewarded in ETH.

More tourists – more garbage

This initiative has been launched in good time, since just recently the popular tourist resort in Boracay has been reopened. This destination is famous for its clean water, spots for diving and sand of a special white colour. Until recently, Boracay has been suffering from heavy pollution. So cleaning beaches for crypto rewards seems to be particularly handy at the moment.

This was quite easy to set up, though, since the Philippines has adopted Bitcoin and other crypto coins as an official means of settlement, which has made way for an increase in crypto adoption in this area. The local central bank has allowed Bitcoin usage as an official method of remittance, too.

There is nothing new under the moon

Earlier, U.Today reported about a similar initiative arranged by a Norwegian entrepreneur who founded a startup to encourage local citizens to clean up beaches in the country and be rewarded with the company’s own coin for that.

Among his plans was a rollout to third-world poor countries where people can sell garbage for crypto by kilos.

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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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