This week on the IBM Blockchain Pulse, your host, Matt Hooper, explores a totally unique use case of blockchain. He’s joined by his guest, Shaun Frankson, co-founder and CTO of The Plastic Bank. Together with his co-founding partner and the CEO of The Plastic Bank, David Katz, they’re working on converting ocean plastic into forms of currency. They’re creating a reward system for people to earn and spend plastic bank digital tokens — and using blockchain to realize this vision. This is a real-life, totally innovative example of blockchain being used for social good.

What Shaun and his co-founder David have created is nothing short of remarkable. They’ve created a new system of value. And is that not what blockchain can be at its most exciting?

Tune in to learn about all the good that The Plastic Bank has been up to in the past several years, the origin of their company, their mission statement and current goals, how blockchain is utilized in their company, and more!

Key Takeaways:

[:01] About today’s episode.

[2:25] What is The Plastic Bank? And how did Shaun and David come up with the idea to start it back in 2013?

[3:05] What is the root cause of ocean plastics? And when did they recognize the opportunity it provided and the possible value exchange?

[5:39] Shaun further explains his early quote after co-founding The Plastic Bank: “The entire idea almost starts with a metaphor that if you walked into the kitchen and the sink was overflowing … and all you had was a bucket and a mop, what do you do first? You turn off the tap.”

[8:23] Some of the first regions and communities they were first able to work with, and why.

[10:41] Join the conversation! If you want to learn more about how leading innovators and humanitarians are using blockchain to create new models for change, advance collective knowledge, and solve what impacts us all, visit IBM.com/Blockchain/For-Good.

[11:33] What were some of the first forms of exchange for ocean plastics when they first started up The Plastic Bank?

[14:50] When was their eureka moment?

[16:57] When did they realize that blockchain would help them realize their vision at-scale?

[19:20] What is the specific nature of The Plastic Bank’s collaboration with IBM?

[20:42] What “blockchain for social good” means to Shaun.

[23:42] Matt notes some of the key takeaways from this week’s episode.

Sources Mentioned:

The Plastic Bank

The Ocean Cleanup

IBM.com/Blockchain/For-Good

Follow-up with Our Guest:

Shaun Frankson’s LinkedIn

Looking for More Episodes?

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