Plastic Credit��Exchange��revamps system,��uses blockchain technology

Plastic Credit Exchange (PCX), a Filipino non-profit plastic offset program, partnered with Microsoft to develop a public, blockchain-protected credit registry.��

“It is important that the credit registry is trustworthy and available to the public,” said PCX��founder and��chair Nanette Medved-Po in a statement.��“By using blockchain technology to not only protect the ledger but provide transparency around additionality and protect against double counting, stakeholders will know where and how they positively impact the environment.”��

Similar to��carbon markets��that��use��carbon credits to limit companies’ production of greenhouse gases, PCX uses plastic credits to limit the number of plastics that businesses produce.����

Companies in the Philippines who have purchased plastic offsets include Nestle Philippines and Unilever Philippines. Meanwhile, companies like PepsiCo Snacks, Wyeth Nutrition, Century Pacific Food, Colgate-Palmolive, and��NutriAsia��have pursued plastic neutrality in the country.����

According to PCX,��these partnerships have helped divert over 18 million kilograms of plastic waste from the ocean.����

“Sustainability and humanity’s response to it is one of the greatest challenges of our lifetime — a planet-sized challenge that requires a planet-sized response,” said Microsoft Philippines Country Manager Andres��Ortola��in a statement.��“Technology can — and must — accelerate that response.”��

Microsoft provided an Azure-based blockchain solution to beef up the credit registry’s security, using a web application to integrate the blockchain into PCX’s current operations.��

PCX’s blockchain-protected credit registry can be found��, where it shows how much plastic��credit��each corporation has bought.��—��B. H. Lacsamana��