BASF has launched a pilot platform, reciChain, in Canada to address plastic waste and is being advised by Deloitte. The platform addresses the issues with plastic collection and sorting activities as well as the traceability of recycling plastic. The platform combines blockchain with digital badge and loop technology to allow for secured sharing of data between market participants and to improve sorting, tracing, and monitoring of plastics throughout the value chain. The goal is to create a competitive circular supply chain rather than a linear one, thereby extending the life cycle of plastics. ReciChain is also being used in Brazil and has secured participation from some of the major Brazilian companies.
