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Plastic is a real threat to the ocean environment, coastal regions, and sea life. The problem has greatly accelerated within the past few decades as the amount of plastic in the oceans continues to grow. But what if a piece of plastic was worth the right price? The result is the elimination of plastic litter, and the scavenged plastic can be exchanged for other goods.

 In developing countries, about 80 percent of plastic refuse comes from areas with high levels of poverty and no effective waste management systems. The founders of Plastic Bank are creating recycling systems in those areas. Stabilizing the reward for plastic at a fair price was often the tipping point, creating a dependable recycling activity that gives collectors a sense of pride.

 In addition, many people in developing countries lack bank accounts, and dealing in cash can be dangerous for them because of corruption and crime. But almost everyone—even in disadvantaged areas—has a mobile phone that supports digital transactions.

 Plastic Bank realized that to take this venture digital, it needs more expertise, so The Plastic Bank began working with IBM and IBM customer Cognition Foundry on a solution employing block-chain technology.