By enabling the exchange of plastic for money, items or Blockchain secured digital tokens, Plastic Bank reveals 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 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 plastic collection is obviously possible without blockchain - but adding the tech into the equation not only raises the awareness but facilitates micropayments and international money transfers. Or as CEO David Katz says: it transforms plastic waste into social plastic - the bitcoin for the earth.
Why I like it
I don't know about you, but I am always sceptical when I hear about social impact schemes with big business and celebrity sponsors via flashy videos I become sceptical. Also in this case, despite the appealing combination of tackled problems (plastic recycling, ocean cleanup, fighting poverty, connecting industrialized and developing world)...
But then again, but talking about what you are doing good, you are also setting an example and raise awareness. And what would be the alternative anyway - not do anything?
I have once built a brick stove in a hut in the mountains of Guatemala: http://www.guatemalastoveproject.org/
This project is the opposite: small, privately financed, volunteers building stoves brick by brick. Just as valuable - so I thought I let you know about it ;-)