German plastics companies DOMO and Covestro are piloting a blockchain solution with Dutch startup Circularise for plastic traceability and enabling a circular economy. The companies first started working together back in October 2019 and demonstrated the blockchain platform at CES 2020.
The blockchain platform creates a digital version of plastic materials based on audited documents and enables end-to-end traceability and provenance. The goal is to track plastics from production to molders to OEMs and brand owners.
In the first step of the process, the plastics resin’s certificates and audit reports will be recorded by the blockchain. In the next stage where a product is molded, the solution will track what additives are used and file the ‘bill of materials’. Lastly, a brand owner will be able to prove the provenance details of the manufactured plastic used in the final product.
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