VeChain builds markets for reclaimed ocean waste plastic

• VeChain is building a market to assist in reclaiming plastic waste in oceans. 
• The idea is to convert collectors into sponsors to keep the ocean clean while reducing poverty.

According to IUCN, 300 million tons of plastics are produced every year for different usages. Out of this, 14 million tonnes of plastics end up in the ocean each year. It is interesting to note that plastics make up 80 percent of all marine debris. Unfortunately, many countries lack the resources to prevent plastic pollution which causes leakages into rivers and oceans, and in the long run affects human health and food.

As part of the measures to fight against this situation, VeChain (VET) is building a market to assist in reclaiming plastic waste in oceans. The idea is to convert collectors into sponsors to keep the ocean clean while reducing poverty.

#VeChain Technical Roadmap Sustainable Digital Ecosystem Applications #1 :
Plastic Traceability & Plastic Neutrality via Plastic Credits.
Plastic Credit Ecosystem deliverable by end-Q1 2024$VET #DigitalEcosystems #Sustainability @TheOceanCleanup @ReseaP pic.twitter.com/4R6R3S1bY3

— Splendid.vet Ⓥ (@SplendidMite) February 21, 2023

These circular ecosystems incentivize stakeholders from collectors to sponsors, create 100% transparency and help reduce poverty while cleaning our oceans.

VeChain passion to create plastic-free oceans

VeChain has been very passionate about this project dating back to 2021 when it announced a partnership with ReSea, and DNV to create a seven-step tracking process to ensure that the journey of the plastic waste from the clean-up area to the waste bank is documented. ReSea is a project that aims “to end the ocean plastic crisis while making waves beyond the sea we work in.”

The project was able to recover 672,936 lbs of plastics from the ocean and rivers from January-April, 2021. A blockchain-based system referred to as the ToolChain platform by VeChain plays a huge role in this.

A blockchain-based tracking system secures real-time data and tracks [sic]the origin of the recovered plastic and all the steps of the cleanup process until delivery at a local waste bank. This ensures true authenticity and the highest level of traceability.

The team behind the project believes that donors often trust the words of charities they send their money. In most cases, there is no evidence that their money is being put to good use. This is part of the reasons behind the implementation of the blockchain-based certification process by ReSea. This ensures that a huge system of data collection that is immutable, efficient, and much harder to manipulate is in place. In this case, donors can follow up on every step of the process and be sure that the money is being put to good use. 

Usages extend to other fields

The use cases of VeChain go beyond the campaign to remove oceanic waste. The blockchain assisted Bayer China to come up with Csecure. This is meant to advance transparency and security in the Bayer clinical trial supply chain. 

Also, VeChain partnered with I-Dante to come up with a blockchain-enabled medical data management platform called The E-NewHealthLife. Vechain expects to develop more solutions for all stakeholders in the future. 

VeChain has been accumulating experience in bridging trust and bringing in transparency into business while being compliant with local authorities and regulators. Given the huge potential of blockchain technology in the medical and healthcare sector, VeChain will continue to develop solutions for all stakeholders and pursue more opportunities in the near future.

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