Costa Rican system connects recycling, virtual currency

A recently introduced virtual currency called ecolónes has been introduced in Costa Rica as a way to encourage recycling.

According to an online article on the LatAm Tech website, the currency is a word combination of “eco” and Costa Rica’s national currency the colóne.

According to the writeup, when Costa Ricans turn in metal cans or glass or plastic bottles to collection stations, they can exchange the items for a pre-set conversion rate, such as five ecolónes for an aluminum used beverage can (UBC). One ecolóne is worth one actual Costa Rican colón, which currently equates to about one-eighth of a United States penny.

The organizers of the system also have partnered with corporations and retailers who have agreed to offer to exchange products and services displayed in online catalogue for ecolónes.

“Recycling is generally seen as an environmental issue, we are seeing it as an economic issue,” states Karla Chaves, director of the Ecolónes program, as quoted by the LatAm Tech website.

The organizers of the initiative say they are exploring starting similar systems in Peru and Guatemala.