Plastic Bank: Recycling ecosystems

By | 2 minute read | April 29, 2020

At Plastic Bank waste has value. We create recycling ecosystems where our members receive a premium for the materials they collect which helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance. It’s a win-win situation: major international companies like SC Johnson and Henkel access ethically sourced, recycled Social Plastic® to be used in packaging, while improving lives in vulnerable communities. We are empowering the regenerative society.

Approximately 80% of ocean plastic pollution comes from countries with ineffective waste management systems. We are working to stop ocean plastic in Haiti, the Philippines, Indonesia, and Brazil, and we continue to gain momentum as we prepare to expand into Egypt this year.

Imagine the impact if all the plastic that is bound for waterways and the ocean is instead collected, recycled and reintegrated back into the supply chain as new products. By collecting and recycling plastic waste, the world’s most economically distressed communities tap into a new source of value, which helps them provide basic family necessities.

Together with IBM Business Partner Cognition Foundry, we’ve built a tool with IBM Blockchain Platform, IBM LinuxONE and hosted on the IBM Cloud that has been essential to our mission. This provides enterprise-grade capabilities, enabling us to deliver a digital wallet that is transparent, secure, and scalable. With Plastic Bank’s asset-backed tokens and the IBM Blockchain Platform, we bring trust and transparency to the informal recycling industry. In addition, with an ultra-secure, scalable reward system, we have the ability to add millions of new members and transform anyone with a phone into a recycling opportunity.

Though much of the plastic in the ocean comes from developing countries, there is still much to do in the developed world.

If you are interested in learning how you can reduce your plastic use, we’ve launched an IBM-Plastic Bank Activity Kit. IBM Activity Kits are grab-and-go resources that enable volunteers to engage students and communities with learning experiences on various topics that are essential to our society – from education and skills, to disaster resilience and the environment.

The IBM-Plastic Bank Activity Kit will enable volunteers to teach individuals about their plastic footprint and how to help reduce plastic waste globally and locally. It also demonstrates how technology like IBM Blockchain is being used for good.

Please take a moment to learn more about Plastic Bank and IBM Blockchain-for-good initiatives at www.ibm.com/blockchain/for-good. The Social Plastic Recycling Foundation is a registered Canadian not for profit. IBMers interested in supporting the foundation can do so through IBM.org and/or during local country campaigns.

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