According to CoinDesk, the Dfinity Foundation, a contributor to the Internet Computer blockchain (ICP), is collaborating with management consultancy Roland Berger to develop a technology for a global standard to incentivize recycling activities. The Swiss-based not-for-profit foundation is working on the Voluntary Recycling Credits (VRC) standard, which was introduced by Roland Berger in June and is inspired by the carbon credit market.

The VRC initiative aims to address global waste management issues that contribute to climate change. The foundation stated that out of the 2 billion tons of municipal solid waste produced annually, the recycling rate is less than 10% for global plastic waste. Dfinity will build a product on an Internet Computer for the buying, selling, and trading of recycling credits that can be tracked by recyclers, waste producers, and others.

Roland Berger views blockchain technology as a 'foundational element critical for its success,' due to its decentralized model guaranteeing 'a transparent, auditable, and secure record of recycling credits and transactions,' according to the statement.