Blockchains and bottles create a new way to pay for it “with plastic” for the world’s unbanked
Novel blockchain use cases can transform lives and industries
(While this is not an electronics industry example, plastics make up between 17–25% of electronics products. We share it as a thought provocation around blockchain.)
While most electronics executives are looking at Blockchain for large enterprise participation, some of the more innovative use cases occur through simple, smart ideas executed at the fringe. This is one such idea that delivers a great idea, enabled with blockchain.
National Geographic reports that 91% of plastic is not recycled. (1) In the 6 or so decades since plastic has made our lives more convenient, we’ve netted 8.3 billion metric tons — most of which becomes trash. That’s more than a ton for each of us.
8 million metric tons of plastic ends up in the oceans every year. That is the equivalent to five grocery bags of plastic trash for every foot of coastline around the globe.
450 years — that’s how long it takes plastic to decompose — and that’s the low-side estimate.
Plastic waste is one of many types of wastes that take too long to decompose. Normally, plastic items can take up to 1000 years to decompose in landfills. But plastic bags we use in our everyday life take 10–1000 years to decompose, while plastic bottles can take 450 years or more (2)
Plastic Bank is enabling countries where plastic waste “pickers” will be able to trade in their collection of mixed plastics for food, shoes and other necessities. They’re using blockchain to enable those without bank accounts to receive and manage funds or credits. (3)
While we’re all looking for the big ideas around blockchain, some of the smaller and simple solutions are extremely valuable. That’s why we encourage people to view blockchain as a utility: a small lightweight insertable process step that connects parties in a trusted and transparent way.
Give thought to where you can cut out middlemen, process steps or facilitate new markets with blockchain that are simple.
PS — if you are interested in getting plastics out of packing but still being able to have really great protection, check out Ecovative. They’re using mushroom mycileum and agriculture by-products to create super-strong packaging. Also consider the Sustainable Packaging Coalition which has an electronics subcommittee.
Reach Cristene on twitter via @hermione1 or on linked in
https://www.thebalancesmb.com/how-long-does-it-take-garbage-to-decompose-2878033
http://ecosalon.com/plastic-waste-turns-into-currency-in-developing-countries/
