Singapore’s leading bank, DBS, is more concerned about food waste and found a new way to mitigate the same in a fun way. The bank came up with a sustainable and high-tech solution for food waste, mainly in Singapore. DBS is a well-known purpose-driven bank that shared and recycled 1,300 tonnes of food in 2022 and is ready with a new plan to cut food waste using the metaverse concept. The Bank has been working with the mission since 2020, initiating Zero Food Waste (ZFW).
What’s the Plan
With the motive to reduce food waste, DBS on August 24, unveiled its metaverse experience in The Sandbox, expected to be accessible to the public by the year end. The bank is ready to come up with “DBS BetterWorld”, a metaverse experience.
The plan is to generate long-term value for the world in terms of managing businesses and working in a responsible way. Changing the view for consumption and production to do better with less is the only perspective of DBS with the plan. A Third of the world’s food is wasted every year, which is enough to feed three million people. With the increase in the world’s population, the issues related to food waste and environmental pressure are rising, making it a serious concern.
DBS is committed to zero food waste and to accelerate this purpose, the bank came up with the concept of DBS BetterWorld. The metaverse virtual experience is assumed to be accessible to the public by the end of 2023.
DBS BetterWorld Insights
DBS BetterWorld is a gamified adventure, going to be introduced with the purpose of demonstrating how virtual experiences can be used as a force for good. To do so, the bank developed a partnership with The Sandbox, an online gaming platform offering virtual and immersive gaming experiences. The partnership was announced by DBS in September 2022.
As a part of DBS BetterWorld, players must accomplish a series of activities, supported by the DBS Foundation and inspired by five businesses to cut food waste. The public can access the platform once The Sandbox’s Alpha Season 4 will be available.
DBS Bank made the decision after purchasing land in The Sandbox, last year. In addition, one of the giant banks of the UK, HSBC also purchased a plot on The Sandbox to connect with the virtual world of esports, sports, and gaming.
Also, DBS will also be expected to work with the community, government, technology, and businesses to develop a meaningful idea to enrich the DBS BetterWorld experience. Partnership with The Sandbox is expected to purchase carbon offsets such that the production on the land will be carbon neutral.
Conclusion
To make the world carbon neutral and cut food waste, DBS bank came up with a new idea, considering the Metaverse. Singapore’s leading bank, DBS, came up with a new plan to cut food waste using DBS BetterWorld. The platform is to offer a gamified adventure demonstrating how virtual experiences can be used as a force for good.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/27/dbs-betterworld-by-singapores-chief-bank-to-cut-food-waste/