Norwegian Oil Businessman Enters Blockchain, Buys Garbage for Crypto

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Fri, 10/12/2018 - 10:04
Yuri Molchan
Empower startup pays tokens for cleaning Norway’s beaches from garbage
Norwegian Oil Businessman Enters Blockchain, Buys Garbage for Crypto
Cover image via U.Today
Contents

A Norwegian startup Empower offers crypto to the public for cleaning the local beaches from garbage. This is an expansion of the current public scheme in which people are paid 15 or 30 cents for returning plastic bottles to shops for further recycling.

Find garbage, get some crypto

Wilhelm Myer, the founder, is the CEO of Nordic Ocean Watch, who is apparently well familiar with the ecological situation on the sea shore. About a year ago he entered the Blockchain industry. Now ordinary people are rewarded with “waste tokens” for bringing garbage to any registered collection point which send it on to be recycled. Earlier in his career, he got a lawyer’s degree, bought an oil field and set up a solar energy business.

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Going global

The startup’s CEO intends to boost his DLT business on a wider scale by launching his waste collection point on the Bali island by the time when Our Ocean Conference 2018, taking place on Oct. 29-30, begins.

Besides, he plans to bring crypto to the unbanked population of the third-world countries, offering coins to people for bringing plastic garbage for recycling and providing them will electronic wallets. One kilo of waste will be rewarded with a $1 equivalent in crypto.

He says that he is a strong opponent of banks and is happy with the idea of contributing to the financial system where banks are unnecessary.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.