1. Computer Services
Business challenge
With the level of plastic waste entering the world’s oceans set to double by 2025, how could The Plastic Bank empower the world’s poorest to help in the fight against ocean plastic?
“Thanks to IBM, we are transforming the lives of millions of the most disadvantaged people on earth, and realizing our vision for cleaner oceans.”
—David Katz, CEO, The Plastic Bank
Transformation
As scientists predict more plastic than fish in the ocean by 2050, what can we do to protect the natural world? Working with IBM and service provider Cognition Foundry, The Plastic Bank is mobilizing recycling entrepreneurs from amongst the world’s poorest communities to clean up plastic waste in return for life-changing goods.
David Katz CEO, The Plastic Bank
The Plastic Bank
Tackling ocean plastic and global poverty with blockchain-based token rewards
Business benefits
Creates
secure asset-backed rewards to underpin the exchange of plastic waste for goods
Sparks
massive expansion from startup to global platform for cleaner oceans
Enables
the most disadvantaged to transcend poverty as recycling entrepreneurs
Solution components
IBM Blockchain
IBM® LinuxONE™
Ubuntu Server on LinuxONE
Client Name
The Plastic Bank
Company Background
Based in Vancouver, Canada, The Plastic Bank is a social enterprise that aims to use recycling to reduce ocean plastic and global poverty. Set up in May 2013, the social enterprise has been featured on over 200 media outlets, including the BBC, Forbes and TIME. Operations in Haiti launched in 2015, following pilots in Peru and Colombia.
Cognition Foundry is a UK-based managed services provider and systems integrator specializing in cognitive solutions and cloud platforms powered by advanced IBM and open-source technology.
Business challenge
With the level of plastic waste entering the world’s oceans set to double by 2025, how could The Plastic Bank empower the world’s poorest to help in the fight against ocean plastic?
Transformation
As scientists predict more plastic than fish in the ocean by 2050, what can we do to protect the natural world? Working with IBM and service provider Cognition Foundry, The Plastic Bank is mobilizing recycling entrepreneurs from amongst the world’s poorest communities to clean up plastic waste in return for life-changing goods.
Results
With secure token rewards underpinning its operations, The Plastic Bank is expanding globally to stop the build-up of ocean plastic and help the world’s most disadvantaged transcend poverty.
Pull Quote
"Thanks to IBM, we are transforming the lives of millions of the most disadvantaged people on earth, and realizing our vision for cleaner oceans."
—David Katz, CEO, The Plastic Bank
Case study Link
Based in Vancouver, Canada, The Plastic Bank is a social enterprise that aims to use recycling to reduce ocean plastic and global poverty. Set up in May 2013, the social enterprise has been featured on over 200 media outlets, including the BBC, Forbes and TIME. Operations in Haiti launched in 2015, following pilots in Peru and Colombia.
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