An initiative of using blockchain technology to reduce disposable products

Pundi X, a leading developer of blockchain-based technology solutions, announced their participation in the Jeju Digital Social Innovation (Jeju DSI) project as a partner of Crypto Jeju. Crypto Jeju has been selected as a Jeju DSI project, promoted by Jeju Special Self-Governing Province and Jeju Techno Park, to offer solutions using digital technology to solve local issues.

At the Blockchain In Jeju 2019 conference hosted by Jeju Special Self-Governing Province on Tuesday 10 December 2019, Crypto Jeju announced the Blockchain Tumbler project, a solution to reduce disposable products through blockchain technology while encouraging the local community to use their tumblers instead of disposable products in the shops. Pundi X’s blockchain payment device called XPOS will be used to record and reward tumbler users.

Crypto Jeju will be providing tumblers with QR codes, known as “Jeju Love Act — Using Blockchain Tumblers.” Users of these Blockchain Tumblers will be rewarded with coins or offered discount which can be used to offset purchases at different stores. The tumblers will be representative of the impact they can have on environmental protection.

Through the XPOS device, QR codes can be recognized and recorded. The tokens can be allocated to calculate the number of tumblers used and provide an estimate of the reduction in disposable products used. Crypto Jeju will provide certification to merchants who participate in this initiative. A total of 20 cafes in Jeju will participate in this pilot program from February to March 2020 after a test period next month.

The Jeju Governor, Won Hee Ryong, delivered a congratulatory speech at the event and visited the Crypto Jeju and Pundi X booth to experience the use of payment devices XPOS and NFC-enabled multi-digital currency card XPASS.

Karl Hyun, Blockchain Developer of Crypto Jeju, said “Together with these projects, we will develop an architecture for sustainability and scalability by using blockchain technology. Moreover, we will also push our initiatives forward with Decentralized ID and Inter-Chain Solution.” He added, “we will accelerate the creation of the Blockchain ecosystem with Pundi X, and make blockchain technology work for the specific needs, such as creating true value to our society.”

About Crypto Jeju

Crypto Jeju, a company specializing in blockchain technology, locates in the W360, an innovation startup innovation center focusing on Blockchain and Big Data which opened in September. The company also signed in the “Digital Social Innovation Project,” a regional problem-solving platform using digital technology being pushed by Jeju Island and Jeju Techno Park. Based on these projects, Crypto Jeju will prepare an architecture for sustainability and scalability, and implement the project with a focus on Decentralized ID and Inter chain Solution. For more information, please visit https://cryptojeju.io/