Mitsui Chemicals and IBM Japan have announced a partnership to explore the use of blockchain to recycle plastics resources.
Recycling resources is the foundation for a successful circular economy. The aim is to minimize (and eventually eliminate) waste through reusing, repairing, reshaping and recycling materials. Considering that the world produces 381 million tonnes of plastic waste yearly, a statistic that is expected to double by 2034 if nothing changes, promoting circular economic models, is becoming more urgent.
The challenge faced by companies and governments attempting to shift consumption behavior that encourages circularity is that it’s complicated to track the lifecycle of materials to ensure that they are sustainably being re-used. Additionally, it is essential for manufacturers to know the exact chemical composition used in production, which is tricky when using recycled materials.
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