US-based household cleaning supplies maker SC Johnson and
Plastic Bank are using blockchain to stop plastic waste from entering the ocean. Under the three year agreement, plastic recycled by Plastic Bank will be used in manufacturing Windex products by SC Johnson, with payouts to waste collectors in the form of digital tokens.
The project aims to clean up the environment while addressing the poverty issue. Plastic Bank has an initiative called Social Plastic, where citizens collect and exchange plastic for money, in this case, tokens. These tokens can then be used to access healthcare, pay school tuition and can be exchanged for local currency. Blockchain can be used to track the payments and reduce the risk of loss or theft.
Waste management systems in developing countries are inefficient, primarily due to a lack of awareness. SC Johnson and Plastic Bank already have nine collection centers in Indonesia. Now, they plan to open 500 more such centers in several countries including, Brazil, the Philippines, Vietnam, Thailand and Indonesia.
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