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Stories of Impact Plastic Bank

Overview

Name: The Plastic Bank

Founders: David Katz, Shaun Frankson

Country: Canada

Website: Plasticbank.com

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Inclusive Economics to Break the Cycle of Poverty and Ocean-Bound Plastic

The goal: Bring one billion people together from around the world to eradicate poverty and stop ocean-bound plastic. Big and Bold.  And do so within notoriously highly-corrupted, low-trust environments.

 

 

Impact Innovation: 

Plastic waste has convertible value. To the right people. 

 

 

The Plastic Bank’s innovation is a market-based plastic recycling marketplace, whereby corporations and citizens (without government intervention) come together and divert ocean-bound plastic in exchange for the necessities of life that allude many in developing countries like Haiti, the Philippines, and Indonesia. Citizens can start their own business within this new ecosystem and be paid without being concerned about losing their funds to local bad actors. Social Plastic and a path to hope was born.

 
Cognition Foundry developed the bespoke digital blockchain-based marketplace platform. A digital token was created, thus ensuring funds get into right hands (and away from corrupt bad actors). The tokens are exchanged for healthcare, education, food, and medicine within a network of Plastic Bank retail storefronts. Trust was instilled into the platform through technology-enabled transparency to validate claims using Blockchain. 

Ah-Ha Moments

Being clear on the Customer and the Beneficiary
Finding the right Customer Segment was vital. Once we understood Who truly valued our innovation from the demand side, our business started to rapidly scale.

David Katz,

CEO and co-Founder
The Plastic Bank

CF Contribution

IT Strategy and Architecture

Guidance to the founders on how to start small and be prepared to scale, without sacrificing enterprise-grade availability and data security

Application Development

Blockchain-as-a-Service,
Hyperledger, Mobile App

Infrastructure

Designed and maintained a hybrid cloud hosting infrastructure, including incorporating IBM LinuxONE with industry-leading 99.999% availability, scalability, resiliency and security

Social Investment

Early creative financing enabled the founding team to stay focused on scaling the impact instead of raising additional funds

Ongoing Application Support and Development

Cognition Foundry continues to work with the Plastic Bank, evolving their platform in response to stakeholder needs

“Our partnership with Cognition Foundry has been invaluable.

It provides the knowledge and connections that have transformed us from a minor enterprise working with pen and paper to effectively having our own leading-edge technology division overnight…”

“Our partnership with Cognition Foundry
has been invaluable.
It provides the knowledge and connections that have transformed us from a minor enterprise working with pen and paper to effectively having our own leading-edge technology division overnight…”

Accomplishments

Plastic Bank featured in IBM Smart Campaign

Using #Tech4Good to Tackle Poverty

Winner: 2019 UN SDG Award

Industry Keynote Speaker + Numerous TED Talks

110,000 Lives Improved

Global CPGs Partnerships (SC Johnson)

Let's Bring Your Idea to Life

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