Deposy 2.0: An Update – Part 1

Deposy 2.0 remains the project of an innovative deposit return system and an innovative, new way of dealing with waste. With state-of-the-art technology, Deposy makes more effective environmental and climate protection possible. For example, the system gives plastic products an ID that is retained throughout the entire value chain, right down to the waste product. In this way, waste becomes smart waste.

This product ID is combined with payment flows based on IOTA, a distributed ledger technology of the latest generation, to implement a deposit return or incentive system. Tracking the product from production to recycling helps implement the circular economy and is thus in line with waste legislation.

The Deposy project is based on the distributed ledger technology IOTA. This was fundamentally redesigned with the introduction of Chrysalis in preparation for the so-called Coordicide. With Coordicide, this technology will be completely decentralized in the future. Since the details of Chrysalis were published, Deposy has not released a new update. The reason was that the architecture of the Deposy system had to be fundamentally changed due to the innovations.

Switch to new IOTA software architecture

This was all the more dramatic because Deposy, which was built on the old IOTA software architecture and logic, was completely on schedule with the roadmap for a test system that was to be built in a university. So a lot of things had to be thought through in terms of the new software architecture. In the last few months, this was discussed with many experts in order to find the best possible solutions. In addition, there were numerous discussions with stakeholders in the packaging and recycling industries as well as with plastics producers in order to build a realistic system.

New Features

A new system, Deposy 2.0, is currently being developed, which goes far beyond the previous one. The following core elements were not yet present in the previous Deposy architecture:

Smart Contracts

They serve to assign a guaranteed deposit value / bonus value to the product, which cannot be manipulated.

Colored Coins

are purpose-built tokens that can be used to represent the Deposy bonus system on the tangle in a tamper-proof way.

QR Code and GS1 Standard

In addition to the previously implemented QR code, the GS1 code used by many companies can now also be linked to the system. This means that in many cases it is not necessary to change the codes.

IOTA and FIAT pool

These two pools are used to balance out volatilities (price fluctuations).

Payout options in FIAT, IOTA and Bon

In addition to the IOTA payout option, other payout options can optionally be implemented.

These core elements of the new architecture will be explained in more detail in the update -part 2, which will be published in the next few weeks.

Partnerships

Something has also happened in the area of partnerships this year. Deposy has entered into a cooperation with Recircula. Depending on the application, it is not necessary to install your own deposit return machine. In some cases, it is sufficient to convert an existing waste bin into one suitable for Deposy. This is very easy to do with the Recysmart system.

Annual Puma Meeting of the packaging industry

Deposy was represented at the Annual Puma Meeting of the packaging industry. Markus Gebhardt was able to present Deposy to a broad audience of 500 companies at the “5th Annual Puma Meeting” of the packaging industry on March 17th 2021. The resulting contacts could accelerate the realization of a test system in the industrial environment.

Support Deposy

You can easily support us by sending MIOTA or using PayPal.

IOTA address

iota1qz2xg83tfdjwrh0kq0auch07rck2lva635q9gnu4yaw09w8xy2f76u54xk6

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