Swot analysis of Recycleforlife project
Recycleforlife project is developed by a group of experts aimed at the toxic waste industry which has been said to worth trillions of dollar. This is registered in California, it is not some random unknown projects. The blockchain technology technically is being applied to all areas of human life and the recycling industry is not left behind. Recycleforlife targets the waste industry to integrate blockchain technology towards the aim of incentivizing anyone who recycles waste. In my previous articles, I have analyzed the swot analysis of different projects and today I will be doing a SWOT analysis of the Recycleforlife project to highlight her major strengths, weakness, opportunity, and threats.
Strength
The waste industry is ripe and Recycleforlife targets the industry which is known to have a huge user base as we get scraps from laptops and phones almost every day. Being a blockchain project which promises rewards to recyclers, Recycleforlife has an advantage in the industry because it is introducing blockchain which will create incentivization and will create fairness on how rewards are distributed.
Weakness
Blockchain has not been fully adopted due to the difficulties found in its use. Not all waste recyclers are tech-savvy or are able to relate with blockchain complexities. This serves as a major weakness of the Recycleforlife. The global and mass adoption of the platform will come at a slow rate until blockchain technology is fully adopted or made easy to use this is because not so many persons have the better understanding of how to keep their digital assets safe from hackers. One can lose or expose their keys to hackers which will make him/her lose their game rewards.
Opportunity
As I earlier pointed out in the strength analysis, the waste industry has lots of entry and profit avenue to those unveiling the ecosystem. Recycleforlife project will enjoy these opportunities of the massive user base who are enthusiastic about games. This will scale the projects as they will leverage on the vast eSports ecosystem to keep designing games.
Threat
The Blockchain industry not being fully adopted due to complexities and technicalities inherent in the system will pose a major threat to the success of this project. New competitors, already existing blockchain industries are also threats to the project.
###Conclusion
Recycleforlife is poised to override these as they are registered industry in California. These are some of the major strengths, opportunities, weaknesses, and threats I see for the project. The project can do well to utilize all the opportunities available in the eSports and blockchain industry to scale their project. The weakness and threats can be abetted through measures that create room for both blockchain and non-blockchain gamers.
Official Handles
https://recycleforlife.io/
https://reusealwaysnews.com/
https://recycleforlife.io/docs/RFLWPv1.pdf
https://www.youtube.com/channel/UCSKOEuJ1hq3ztLoWF9P-BjQ
https://github.com/recycleforlife/RFLtoken
https://medium.com/recycleforlife
https://twitter.com/life_recycle
https://www.facebook.com/Recycle-For-Life-Token-111236426901075/
https://t.me/Recycleforlife