FROM PLASTIC POLLUTION TO UPCYCLING ECONOMY
How do we enable more corporations to utilize the global renewable plastics supply chain by ensuring social benefits for communities sourcing plastic from the ocean and beaches?
September 11 – 13
September 11 – 13
Build a solution that incentivizes corporations to source used plastic from communities in developing countries in order to create a socially inclusive and beneficial plastic sourcing process, encouraging corporations to invest and contribute to the upcycling economy and meet their corporate responsibility standards.
Our oceans contain an estimated 86 million metric tons of plastic comprised of five trillion individual items. The tracking and re-use of this plastic for upcycled packaging is growing, with initiatives including Dell’s Next Wave, VMware’s blockchain and DAML to track plastics origins.
Communities and individuals risk injury when sourcing the plastic, and corporations fear being held accountable for investing in child labour, as the communities cannot prove who sourced the plastic. Social aspects are the key challenge to the current process.
Currently, the vast majority of plastic is not recycled, especially in developing countries. There are no open, fully inclusive and accessible upcycling marketplaces or incentives. To achieve a global, commercially viable ocean plastics supply chain, capturing the initial source of the recycled plastic is crucial
At current rates, by 2050 the seas will contain more plastic than fish. Creating and being able to prove a healthy work environment will unlock corporate utilization of and investment in recycled plastics, while also generating more jobs in developing countries.
A WINNING TEAM WILL...
Design the ‘intake’ portion of the used plastics economy
Create an incentive and adoption mechanism focused on local social challenges and corporate responsibility
Employ a user-centric approach & adoption mechanism that considers how communities will transition to the new system
Show how their solution could work without electricity or smartphones
Demonstrate the solution’s value and appeal for all stakeholders and elements (social benefits, pollution, industry value)
Holistic and inclusive approach.
Digital Asset DAML
WITH THE WINNER
VMware aims to incubate the best solution(s) in one of its ongoing pilots related to this topic, opening up opportunities for further development.
THIS CHALLENGE CONTRIBUTES TO SOLVING:
1.4 equal rights to economic resources.
12.5 The reduction of waste generation through prevention, reduction, recycling, and reuse.
The team should have a range of skills and expertise, enabling a truly holistic approach. The team is familiar with tokenization and token economics. Knowledge of the supply chain or a clear strategy on how to obtain and use such knowledge is a plus.
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February 4-5 in The Hague, The Netherlands.
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