How Plastic Bank Is Reducing Plastic Pollution With Blockchain

Everyone knows: blockchain is useful. And we love seeing companies using blockchain to tackle painful problems. One such company is Plastic Bank, and it is using blockchain to stop plastic pollution all over the world.

In the recent IBM post, you will discover some interesting data in and around plastic pollution. First, over 80% of the plastic pollution originates on the land. Think of empty plastic bottles thrown around. Or crumbled plastic bags aimlessly floating in the middle of the ocean. Reducing such pollution has been the goal.

Plus, if we can reduce this plastic garbage, we save lives of marine creatures — millions of seabirds and over 100,000 marine mammals can live.

To solve this man-made problem, we already have organizations like Oceanic SocietyPlastic Pollution Coalition5 GyresAlgalita, and Plastic Soup Foundation working round the clock. Along with them, we now have Plastic Bank — a blockchain-based solution with a unique model.

Plastic Bank Rewards You For Fighting Plastic

Already operating in Haiti, Indonesia and the Philippines, Plastic Bank is using blockchain to reward people. They have setup recycle systems to assist local citizens in collecting plastics and then monetizing them.

Think this way: If you see any plastic around, you can give it to any nearest Plastic Bank branch. You will be rewarded through digital tokens on your mobile phone. This is the incentive you receive for saving the ocean.

All this is, of course, implemented over blockchain.

Plastic-Bank-Blockchain-Solution.jpg

In fact, this model also serves as a secondary income for people. One can find plastics around them and share it with Plastic Bank to make additional income.

The Other Side: The Social Plastic Revolution

There is another side to Plastic Bank concentrating on already-collected plastics. In fact, plastics are recycled and then sold to companies like Henkel and SC Johnson. This process is tracked through blockchain as well.

Such social plastic revolution is important to protect the ocean’s health.

The founders of Plastic Bank — David Katz and Shaun Frankson — are using IBM’s blockchain platform to develop this secure and scalable reward system. As you think about it, this is yet another blockbuster use-case of blockchain.

The ultimate vision, with this model, is to make plastic a currency. 

Related post

Leave a Reply

Your email address will not be published. Required fields are marked *