Chemical giant BASF has launched reciChain, a pilot project for plastic recycling that implements Blockchain technology in British Columbia, Canada. The project offers a more sustainable alternative to reduce plastic waste while maximizing its value and improving resource efficiency.
According to Marcelo Lu, BASF Canada President, the economics of recycling plastic faces challenges from manual processes and material contamination. Brand owners and retailers also struggle to trace their recycled materials. The reciChain aims to provide solutions to address such problems.
The reciChain benefits from the power of blockchain combined with loop count technology and a digital badge. The technology allows market participants to share data, improve the sorting process, and monitor f plastics throughout the value chain. The reciChain offers transparency to brand owners on the validity of recycling certificates they obtain from recyclers and converters.
According to Anthony DiPrinzio, Head of BASF Blockchain Lab, the ultimate goal of reciChain is to make sure to keep the life of plastic molecules circular by delivering back products to the value chain. This can be achieved through a collaborative digital consortium involving plastic producers, suppliers, retailers, recyclers, government entities, and waste collectors.
Tags: AlwaysFree,Americas,Canada,EN ALWAYSFREE,English,Sustainability,Technology BASF,Blockchain,Plastic Recycling ProjectFebruary 13, 2020 4:43 PM