"Plastic Bank has stopped over 99 million pounds of plastic waste - the equivalent of more than 2 billion plastic bottles - from entering the world's oceans, and the pace of its collections is accelerating."
"David explains that a shift in mindset from extractive ownership to regenerative stewardship can break the economic mold and bring prosperity in regions where so much valuable material currently is treated as waste."
"Plastic Bank uses a blockchain-based data collection and reporting system that helps collectors track their earnings and which provides transparency and traceability for the plastic captured."
Plastic Bank, founded by David Katz, focuses on grassroots recycling programs to support low-income regions. The Vancouver startup compensates over 30,000 recyclers in countries like the Philippines and Brazil, preventing over 99 million pounds of plastic waste from entering oceans. With partnerships from major companies, Plastic Bank aims to create circular economies in plastic packaging. Their goal is to capture 10 billion bottles, utilizing a blockchain system for transparency. The collected plastic is transformed into SocialPlastic for new products, helping to recover costs and promote sustainability.
Read at Earth911
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