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IBM and Plastic Bank using Blockchain for Haiti Recycling

Plastic Bank, a Vancouver-based non-profit organization, is committed to improving the lives of impoverished people around the world and simultaneously brings an end of plastic pollution on the earth. To prevent the flow of plastic to the ocean, Plastic Bank rewards people who hand over recyclable plastic waste with cryptocurrency or Blockchain secured digital tokens. To do this, Plastic Bank provides a consistent, above-market rate for plastic waste, thus incentivizing its collection. Individuals who gather plastic can trade it for money, items or services. This is the way they teach people to learn the value of plastic. IBM and Cognition foundry have joined Plastic Bank on this issue to design an innovative solution, creating a secure and smooth reclamation process. The joint platform allows waste collectors to choose their payment token, either with a US dollar token or a native token. These tokens can be traded with the basic supplies directly from Plastic Bank.

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