Revolutionizing recycling: blockchain’s role in creating a wasteless world

By Shaun Frankson, Co-founder and Chief Technology Officer, Plastic Bank

As dawn breaks over the Indonesian coast, Samsul, a collection community member, sets out to begin his day, sifting through discarded materials. Each plastic bottle he finds is not just trash; it's a step towards a better life for his family, a cleaner community and a healthier planet. This is the everyday scenario for collection communities in coastal areas of Indonesia, Brazil, Egypt, Thailand and the Philippines, where Plastic Bank's mission takes on a tangible form.

Samsul Arifin, Plastic Bank collection community member in Indonesia

Source: Plastic Bank

The challenge and the turnaround

In 2016, my colleague David Katz and I faced a couple of unique business challenges. We were three years into establishing Plastic Bank and had just opened up our first couple of collection branches in Haiti. Our vision was bold: transform plastic waste into a currency for the impoverished, simultaneously tackling pollution and pov…