Plastic Finance: Recycle, Re-use, Prosper

By adriaparcerisas | ICO Reviews | 14 Jul 2021

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What is Plastic Finance and why has it been created?

Nowadays, one of the issues that people often talk about is the environmental problem, not only because of the climate, but also because of the global growth of waste, which also has an impact on it. Approximately 12% of the total waste each year is plastic, and most of it is not recycled, so that approximately 79% accumulates in landfills or in the environment as litter. In a waste management framework, the most preferred approach is prevention and minimisation of the accumulated amount of waste, although to date, efforts have been in vain.

However, with the advent of Blockchain technology and decentralised finance (DeFi), the stablecoins that are now being used in the cryptocurrency world could play a key role in this sector to incentivise all households and MRFs to streamline the financing of the plastic recycling industry. Through smart contracts generated thanks to the blockchain network, we may be able to tokenise each type of shredded plastic and create an internal exchanger, so that people and industry can have easy access to monetise plastic waste and thus generate a simpler, unique and retroactive ecosystem.

For this reason, today I want to introduce Plastic Finance (https://plastic.finance/), a new project that will be able to streamline the recycling business flow and empower scavengers to get better treatments for their hard work by using blockchain and DApps, with the goal that this waste can be collateralized as an asset.

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Main objective

The main and major objective of Plastic Finance is to carry out waste management in such a way that a useful ecosystem for waste reduction can be generated. Going into more detail, this main objective can be divided into 3 sub-objectives:

Fostering the circular economy by improving the recycling system: recycling plastic to increase the productivity of waste pickers, adding value to the value chain to benefit all parties.
Empower waste communities to have a higher social position in society: empower waste communities, through increasing their self-esteem, which will improve their productivity and well-being.
Democratising access to ESG investment: helping investment communities through the design of DApps and the use of DeFi, democratising access for all to participate in a global mission to recycle and empower.

How does Plastic Finance work?

At the ecosystem level, Plastic Finance will create an app that scavengers can use to sell their waste to MRF, exchange it for cash or store it as an asset in the form of stable currency.
Plastic Finance will charge a 5% fee for the price of the plastic milling internal exchanger spread and a 0.175% fee for the savings withdrawal or loan repayment transaction on the DeFi platform. These will be pooled into a wallet and, through a smart contract, can be distributed on a regular basis to incentivise the community.
Moreover, the platform will also collect 60% of the annual net profit of the cooperative recycling business and distribute it in the form of a profit share as a dividend to PLAS holders.

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Tokenomics

The Plastic Finance token will be the $PLAS, which will serve to provide price stability and be used as a combustion mechanism inside the Plastic Finance platform, which will be a native token of the Binance Smart Chain network under the BEP-20 protocol.

Token Name: Plastic Finance
Symbol: PLAS
Token Network: Binance Smart Chain
Token Type: BEP-20
Total Token Supply: 23,900,000 PLAS

Bounty program

The project gives the opportunity to earn PLAS tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (https://bitcointalk.org/index.php?topic=5341794.0), where you can access the link in order to see what are the conditions to become an early Plastic Finance contributor and start acquiring tokens.

For more information about the project, you can visit and read their WhitePaper available here (PlasticFinance_WP). You can also stay tuned in their official Telegram Channel (https://t.me/plasticfinance). I hope you liked the post and soon I'll send you new ones.