Indonesians will get cryptocurrencies in exchange for gathering wastes, to facilitate recycling in the country. This innovation is being facilitated through the partnership of SC Johnson and Plastic bank as revealed in an announcement by SC Johnson recently.
Crypto Payment For Plastic Waste
A partnership of SC Johnson and Plastic bank in Indonesia is set to deal with environmental pollution, create jobs, and alleviate poverty in the country. The project will be fostering plans to open eight plastic recycling centers in Indonesia as it’s aiming at reducing the global ocean plastic around the world and increase the recycling rate in impoverished communities in Indonesia. The first center is already opened on the 28th of October in Bali.
The remuneration will be facilitated with the local token of SC Johnson. The use of blockchain for remuneration was noted in the press release as helpful in the reduction of theft and risk of loss.
David Katz, Founder, and CEO of Plastic Bank noted in the release that the partnership between the firm with SC Johnson is the first of its kind in Indonesia and it will be creating more opportunities for people living in poverty and offer waste collectors an important sense of pride. Katz further noted that SC Johnson is the first CPG company to scale a program of this type in Indonesia that will benefit a wide range socio-economic demographics, inclusive of residents living below poverty level.
According to SC Johnson, it’s venturing into the project to recover plastic equal to the amount disposed into the world, through innovative recycling and recovery program. Also, the firm aims at neutralizing the environmental impact, while it also focuses on doing good in the communities that have excessive plastic pollution.
This scheme would be beneficial to the 28 million citizens of Indonesia that are presently living below the poverty line. However, the extremity of poverty could make most of the targeted populace bereft of the necessary technology for accessing the digital currency. The release did not note ways or measure for accessing the crypto remuneration, but it was pointed out that the token could be used to purchase goods and services through a Decentralized system.
About SC Johnson and Plastic Bank
S.C. Johnson & Son, Inc. is an American multinational privately held manufacturer of household cleaning supplies and other consumer chemicals based in Racine, Wisconsin. Plastic Bank is an environmental organization in Indonesia.