Circularise uses blockchain to help plastic manufacturers, brands, and suppliers trace raw materials from source, right through to the end product. The ultimate aim is to make the plastics industry more sustainable. Utilizing blockchain allows greater transparency into sustainable practices and materials used in producing products, helping businesses to source plastic products from verifiably sustainable sources.
Circularise uses a combination of blockchain, peer-to-peer technology, and cryptographic techniques for its platform, which allows for information storage and sharing.
The technology allows the exchange of information between the various participants of a value chain while allowing anonymity for some, and controls over access and the amount of information disclosed.
For users and consumers, transparency in the value chain provides clarity on issues like product sustainability and recycling options. Companies can use information from previous loops when recycling plastics to begin a new cycle.
Circularise is a Dutch startup which, founded in 2016. It recently raised €1.5 million from the EU Commission for further growth.
The company is currently working with Covestro and DOMO Chemicals. The solution has potential uses for any brand or manufacturer using plastic products and looking to have greater visibility over their value chain.
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