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Plastic pandemic: how distributed ledger technology and the internet of things can create a circular economy of plastics
Published on June 29, 2022 20 min
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Hello. I'm Krishnaswamy Sankaran, CEO of Radical Innovations Group. We are into industrial and regional transformations, emphasising energy, decarbonisation, circular economy, and digitalisation of value and supply chain. This talk is about the role of distributed ledger technologies and multi-sensor-based IoT solution to address one of the biggest challenges of our times, namely, the plastic waste pandemic.
I would like to begin this talk by asking two related questions. First, have you ever wondered why we call a solution to a problem, a solution? In other words, why do we call an approach or a procedure or a protocol we use or employ to address a problem a solution? The second question is, how do you differentiate a good approach from a not so good one? These questions are related to each other. If you understand the power of metaphors, you will be able to easily answer both of these questions. There is a compelling reason, I believe, why we call an approach to solve a problem, "a solution." I think it is because of the ability of our approach, method or procedure to dissolve the problem within itself.
Imagine a glass of water which dissolves a spoon of salt. In this case, the spoon of salt is a problem in our hand, and the glass of water is our solution. Of course, this is only half of an answer. Do you know why? Let me explain further. Instead of water, we can also use a glass of milk, oil or any other liquids. Some of them will be good ones, some of them will be less good ones. The quality of our approach depends on its ability to dissolve the problem at hand completely, and its ability to not precipitate other problems. Imagine a situation when you start dissolving a spoon of salt and then you get other unwanted residues in the glass of water. Of course, the particular problem we just solved has resulted in other unwanted issues. Hence, there is a good reason for using this metaphor and you will soon appreciate the power of this metaphor to identify the good solution to the problem at hand.