Forbes India 15th Anniversary Special

Crypto Miner Russ lema leverages the use of blockchain to solve the global waste crisis

They actively working on building partnerships with industry leaders developing solutions to revolutionise the energy industry

Published: Oct 29, 2020 04:53:52 PM IST
Updated: Oct 30, 2020 06:42:20 PM IST

Crypto Miner Russ lema leverages the use of blockchain to solve the global waste crisis
Can you introduce your company, INVIZION?

INVIZION is a US-based technology company that aims to address the global waste problem through
our revolutionary blockchain-based solution. Many people don’t seem to realize how serious the
waste issue is. The amount of waste our society produces is terrifying, and the numbers are expected to keep growing.

Because of outdated and ineffective technologies used in waste management, toxic waste ends up in
landfills, and from there, it goes into the oceans and possibly, even in our drinking water. It’s essential to realize that the waste problem is not only an environmental crisis - it’s also a health crisis. It affects us all.

Our company focuses specifically on one particular aspect of waste management which is waste
tracking. We develop a solution that tracks the entire lifecycle of waste - from the moment it is
produced up to the final destination. Our mission is to create a complete solution for the global waste
crisis, and drastically limit the amount of waste that pollutes our planet.

How did you first get into blockchain?

I was fascinated with technology my entire life. As a child, I used to build computers with my
grandfather. What started as a hobby evolved naturally into a profession which I’ve been doing for
over 15 years as IT support. I worked with government institutions and large corporations globally
including airlines, banks, oil and gas corporations, pharmaceutical companies and so on.

Understanding the potential that technology has in changing the world plus the in-depth knowledge on the mechanics behind it, made me want to use it to better our planet.

When I first heard about bitcoin, as a tech enthusiast, I immediately noticed the potential of blockchain technology. Since I was building computers all my life, initially I entered the blockchain ecosystem as a miner. Bitcoin mining consumes a lot of energy, and it made me think about taking the technology, infamous for its high energy consumption, and using it to actually help produce renewable energy. I wasn’t happy with the way the crypto community was going. The ICO rush seemed like gambling to me, and I wanted to create something with real life value, instead of another collectible token.

What made you think that blockchain can be used to solve the waste crisis?

I was always disappointed by how we deal with our waste disposal. When was the last time you
thought about what happens to the soda can you throw in the trash? We live in a technologically
advanced society, but when it comes to waste, we act like a cat in a litter box. For me, this is
unacceptable. We can’t go on like this if we want to preserve our planet for the future generations.

A breakthrough came in when I met my business partner Daryl Taylor, who is also a tech enthusiast
and an early blockchain adopter. We immediately noticed that we share similar ideas. We weren’t
interested at all in cryptocurrencies as penny stocks but instead as a use-case of groundbreaking
technology that can change the world for the better.

How exactly does INVIZION deal with the waste problem?

Our philosophy is inspired by decentralized finance solutions. In essence, DeFi means taking a
process that traditionally utilizes trusted third parties, and making it more efficient and more secure by replacing the human element with decentralized smart contracts. INVIZION applies this exact idea to waste tracking.

At the core of our solution is INVIZION’s cryptocurrency: the NVZN token. When a batch of waste is
produced, NVZN tokens are used to give it a certificate of origin and place it on a blockchain. From
there, every step of the waste handling process is registered using IoT devices and smart contracts.
All suppliers, orders, invoices, shipments and quality checks - everything is secured and tracked on
the blockchain.

As an IT professional who has dealt with audit and compliance within some of the largest companies
in the world, despite the reports that are generated out of any application, data at the core level can
be changed without anyone knowing. This is why blockchain technology is so revolutionary. If you
store data on the blockchain using smart contracts, it can never be modified or changed. When we
apply this to waste tracking, we can ensure that waste isn't mishandled.

INVIZION was the first blockchain/Crypto company to speak at the United Nations. Can you tell us more about it?

We are well aware of the potential that our technology has, so getting invited by the United Nations to present it was such a huge honour. The United Nations Global Compact is a massive event, attended by government leaders and the CEOs of major tech companies from around the world. Being able to share our vision to such an influential audience was extraordinary.

Our vision has met with universal acclaim and interest, and we got the green light to continue our
cooperation with the United Nations. Some very exciting things are brewing, but all I can say for now
is that we were invited for round two! Find us at the UN Leadership Summit in June 2021, where we
will discuss the next phase of implementing our solution.

What’s next for INVIZION?

The most ambitious enterprise we are working on at the moment with our partner CETS Technologies
is the Smart NetZero-Carbon Eco-Village project. Our Eco-Villages will use NVZN tokens to power up
a fully eco-friendly closed system. The technology provided by CETS will process all types of waste
including sewage, and convert it into renewable energy or useful by products such as fertilizer, fresh
water, noble gasses, glass, plastics or metals.

At the end of the day, our goal remains unchanged. We are committed to develop a waste tracking
method that’s all about accountability and transparency. We are actively working on building
partnerships with industry leaders developing solutions to revolutionize the energy industry.

Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.

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