Blockchain

How can we clear the plastic choking our oceans?

Share this post:

Straight out of high school I joined a rock band. I thought I was living the dream. Then I woke up one day trapped in a bed. A car crash had almost killed me. I was 21.

I had an epiphany.

I had this revelation, a realization about what I wanted to do. I wanted to help change the world. I wanted to inspire, create and strategize solutions to help fight global problems like poverty and pollution.

A vision to help fight pollution

Global pollution is a tangled mass of problems, all of them desperate for strategic solutions. One of the problems is the rising flood of plastic that’s polluting our oceans. About 8 million tons of plastic go into our oceans every single year. Most people can’t envision that. They don’t see it at the beaches they visit. But there are people who see it every day.

The people who see this problem usually live in disadvantaged areas. They look out over layers of discarded bottles and other plastics that blanket their beaches, float in their water and wash up on nearby shores.

In 2013, an entrepreneur named David Katz envisioned a way to connect these people with recycling facilities so that discarded plastic would have value. He wanted to help people see plastic as money lying on the beach. I wanted to help David drive this paradigm shift.

The vision becomes a solution with blockchain

David and I co-founded The Plastic Bank. We launched our first solar-powered recycling market in Haiti. At this market, people can exchange plastic for solar mobile phone charging, sustainable cooking fuels and other basic needs. We created a brand for our recycled plastic, Social Plastic, so that companies can advertise when they use it and support our cause.

The Plastic Bank grew quickly, and suddenly we needed to process and track financial transactions with companies around the world. We also wanted to be able to pay people who collected plastic, so they could buy essentials whenever they needed. With a little cash reserve, they could escape the daily cycle of survival. But we knew that cash was risky for them. People who carry cash can become targets.

We needed a secure transaction system that could scale exponentially, serving both the most powerful companies and the most vulnerable people.

We realized that everyone—even families in disadvantaged areas—had mobile phones that could handle digital transactions. Digital transactions through blockchain technology are secure, avoid the risk of carrying cash, and create a permanent record that companies can track. We worked with IBM and IBM Business Partner Cognition Foundry to create a blockchain solution with a Hyperledger Fabric framework on an IBM LinuxONE system.

The refined art of recycling

Now, people with no other resources can go out and collect enough plastic to provide for their families and send their children to school. I feel like it’s bringing hope, pride and dignity to the art of recycling and cleaning the world at the same time. And that’s what blockchain is doing for us.

Once I knew that was possible, I had a moment of clarity and realized technology had bridged the gap. We could unleash creativity… every possibility now flooded in, and I saw that what we’re doing is more than a recycling system. It’s really a global platform that’s a conduit for change.

The platform has just unlocked the door for people to change the world in an exponential way.

This year, we’ve already expanded operations to the Philippines and are preparing operations in Indonesia and Brazil. We want to empower everyone to be a part of this change. It’s our goal to reach everyone on the planet.

There is no limitation on this vision.

  

For more, watch the IBM interview with Shaun Frankson below.

Co-founder and Chief Strategist, The Plastic Bank

More Blockchain stories

Why ANZ bank is optimistic about blockchain technology

With so much hype surrounding blockchain, we at ANZ bank have been keen to develop practical and deliverable use cases. We’re optimistic about one that applies distributed ledger technology to digitize financial guarantees between landlords and tenants in commercial property leasing. Working in a modest consortium with Westpac bank, shopping center operator Scentre Group and […]

Continue reading

How high-tech blockchain is helping boost global trade

A trade fan speaks In the realm of banking, I’m what you’d call a “trade person.” I don’t just mean it in the literal sense—my job: Global Co-head of Trade and Working Capital for the UniCredit Group —I mean it on a deeper, personal level. We “trade people” share a passionate belief that, in the […]

Continue reading

Daimler Trucks North America puts developers in driver’s seat

As the DevOps guy at Daimler Trucks North America, my vision is to align our IT organization to meet ever increasing application demand from the business. At the same time, my goal in life is to make my people’s lives easier without sacrificing quality, all while improving program speed! Replacing an unsustainable deployment model My […]

Continue reading