DOMO, Circularise, and Covestro have announced a new collaborative project for circularity in the plastics industry through the use of blockchain technology.
The newly formed Circularise PLASTICS project group aims to set up an open standard for sustainability and transparency within the field, and the partners will discuss the project at K 2019.
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The partners believe that achieving traceability and transparency in the plastics supply chain enabled by blockchain will make it more authentic and transparent.
Alex Segers, CEO at DOMO, said: “Registries and tracking systems are key to assessing progress towards global circularity goals.”
“Blockchain can bring transparency where it’s most needed, especially when it comes to supply chain traceability in our industry.”
Dr Burkhard Zimmermann, Head of Strategy, Sustainability, and Digital at Covestro’s Polycarbonates segment, said: “For material suppliers and processors, as well as equipment and mouldmakers, Circularise PLASTICS participation means increased material value and trust in your production, by adding material passports to plastic resin, additives, colourants, and any other materials produced.”
“For OEMs and brand owners, it helps on the road to achieving sustainability targets and a strengthened brand position, by revealing a product’s origin and transparency on its environmental impact.”