Plastic Bank | PositiveBlockchain.io

Short Description

  • An initiative creating social and environmental impact in areas with high levels of poverty and plastic pollution by turning plastic waste into a currency.

Long Description

PLASTIC BANK STOPS OCEAN PLASTIC WHILE REDUCING POVERTY. WE DO THIS BY TURNING WASTE INTO CURRENCY.

By enabling the exchange of plastic for money, items or Blockchain secured digital tokens, we reveal the value in plastic. This empowers recycling ecosystems around the world and stops the flow of plastic into our oceans. All while helping people living in poverty build better futures. The Plastic Bank creates social and environmental impact in areas with high levels of poverty and plastic pollution by turning plastic waste into a currency.

To do this, The Plastic Bank provides a consistent, above-market rate for plastic waste, thus incentivizing its collection. Individuals who gather our plastic can trade it for money, items or services. Social Plastic® is plastic that has been verified by Plastic Bank.

The Plastic Bank also provides the ability for local entrepreneurs to set up and operate a convenience store for the poor, in which plastic waste is the currency. Plastic collected through The Plastic Bank is recycled and sold at a premium as Social Plastic®. The value of Social Plastic® goes beyond the commodity price of plastic: a ladder of opportunity is created for the world’s poor by providing access to income, goods and services and plastic is kept out of the ocean.

In addition to using our recycled plastic, both people and companies have the ability to off-set their own plastic footprint.

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Additional Details

  • SDG#:12
  • Other links:https://www.ibm.com/blogs/systems/plastic-bank-deploys-blockchain-to-reduce-ocean-plastic/ http://socialplastic.org/
  • Short Description:An initiative creating social and environmental impact in areas with high levels of poverty and plastic pollution by turning plastic waste into a currency.
  • Blockchain Technology:Hyperledger Fabric
  • Sponsors & Partners:IBM
  • Stage:live
  • Impact-first:Yes
  • Organization Type:start-up
  • Founders:David Katz & Shaun Frankson
  • Creation Year:2013
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