Edinburgh-based cryptocurrency startup Zumo has joined forces with WasteAid to tackle plastic pollution across several developing markets.
The partnership with WasteAid, a waste management charity which operates across emerging markets, marks Zumo’s first charity partnership.
Zumo said the collaboration will support its ambition to use blockchain technology to enable nearly two billion adults globally to access modern financial services.
Through the partnership, Zumo users will be able to automatically donate funds to WasteAid every time they send, exchange, buy and pay with cryptocurrencies and fiat via the recently-launched Zumo app.
All funds raised will support WasteAid’s mission to share practical and low-cost waste management expertise to communities in a number of developing countries.
WasteAid is delivering positive impact for thousands of families in lower-income countries in Africa and is extending its reach through new international partnerships.
The charity has recently launched an initiative to empower green entrepreneurs in South Africa, India and Vietnam, in addition to its existing work in The Gambia, Malawi, Kenya and Cameroon.
WasteAid chief executive, Ceris Turner-Bailes, commented: “One in three people globally do not have a waste management service and have to burn or dump their waste, leading to serious health problems and adding to marine litter and climate change.
“This partnership with Zumo will mean we can better support the communities that will benefit most from safe and sustainable waste management and together we can help tackle the issues right at the heart of global waste pollution.”
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Developing markets are driving global consumer demand for digital payments platforms, and by 2021, are predicted to account for around half of all non-cash transactions worldwide.
For many communities in these markets, digital payment platforms and cryptocurrencies are a basic necessity in accessing financial services.
Digital platforms also play a crucial role in helping to reduce the use of plastics globally while still enabling consumers to protect their personal finances.
Nick Jones, the founder of Zumo, said: “Although blockchain technology and waste management appear to speak different purposes, in reality, they share a common vision to empower communities and create long-term sustainable livelihoods for people globally.
“There is so much that developed markets can learn from the communities that WasteAid supports – from the seamless use of digital payments in everyday life that make access to modern financial services inclusive to taking better care for our planet.”
Jones added: “Our partnership with WasteAid is one of common values and we can’t wait to get started.”