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Canadian Organization Uses Blockchain In Combating Ocean Pollution

19:03 18/10/2018

Plastic Bank, a Canadian non-profit organization, suggested to solve the issue of global ocean pollution by means of blockchain technology, Euronews reports.

 

Plastic waste is one of the most nagging issues of poor countries, where the system of plastic disposal is often absent. In certain states, vast tracts of land are covered with bottles, bags, and plastic debris. All these eventually end up in the rivers and are carried away by the current into the world ocean, where up to 8 million tons of garbage are dumped annually. 90% of the plastic gets into the world ocean from eight Asian and two African rivers.

 

The attempts to clean the ocean are frequently discussed, but cases how to prevent garbage from entering the ocean are scarce. As a result, Plastic Bank decided to organize more than 40 plastic waste collection points in Haiti, where anyone can exchange waste to cryptocurrency by means of distributed ledger technology.

 

Blockchain platform was established in collaboration with IBM. Waste is exchanged for tokens, which are sent to the customer’s account using a mobile application, hence allowing payment for goods and services. Thus, it is possible to receive up to $5 each day at recycling stations, and this is quite a decent amount for the nation with average daily wage in the amount of $2.

 

Waste produced by the population is transformed into pellets and used for further production. Plastic Bank plans to expand its activities to the Philippines, Brazil, and Indonesia in the near future. The main aim is to create centers wherever there is a plethora of plastic waste.

 

As previously reported, the Government of Kenya will use blockchain in the housing program.

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