Plastic Bank is a for-profit social enterprise whose model is designed to reduce plastic pollution and alleviate poverty in developing countries. It does this by establishing plastic collection centers where communities exchange plastic waste as currency for income and life-improving benefits such as income, zero-interest loans, education, or other social benefits. Exchanges are recorded through their proprietary blockchain-secured platform, enabling traceable collection, secured income, and verified reporting. The collected material is processed into Social Plastic® feedstock for reuse in products and packaging. The company re-invests the majority of its profits into collection benefits, development and maintenance of recycling infrastructure, and technology development for material traceability for a greater social, environmental, and economic impact.
- blockchain
- community
- credits
- digital platforms
- digital wallets
- fintech
- plastics
- pollution
