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The Plastic Bank – your trash someone’s salary – social enterprise for recycling

While big chains such as Walmart and its brands are incorporating How2Recycle labels into its products, the problem of recycling infrastructure remains. Especially in the US, where the recycling rate (including composting) is barely above the 34 percent mark since 2010.

While this is a task for the Governments in most countries the rise of social enterprise to solve the problem is emerging. There is money to be made out of trash.

A innovative social enterprise called The Plastic Bank is doing just that.

The Plastic Bank has created a Blockchain digital currency & exchange platform to incentivise the collection of plastic waste before it becomes Ocean Plastic. In addition to the benefits of recycling, the platform provides the ability for local entrepreneurs to operate a convenience store for the poor, in which plastic waste is the currency. It is a means for anyone to go out and collect enough plastic to provide for their families and send their children to school. All through the act of recycling.

We are looking forward to see more initiatives like this in the future!

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