## Stories of Impact Plastic Bank

## Overview

**Name:** The Plastic Bank  
**Founders:** David Katz, Shaun Frankson  
**Country:** Canada  
**Website:** [Plasticbank.com](https://www.plasticbank.com/)

**Inclusive Economics to Break the Cycle of Poverty and Ocean-Bound Plastic**  
The goal: Bring one billion people together from around the world to eradicate poverty and stop ocean-bound plastic. Big and Bold. And do so within notoriously highly-corrupted, low-trust environments.

**Impact Innovation:**  
Plastic waste has convertible value. To the right people.

The Plastic Bank’s innovation is a market-based plastic recycling marketplace, whereby corporations and citizens (without government intervention) come together and divert ocean-bound plastic in exchange for the necessities of life that allude many in developing countries like Haiti, the Philippines, and Indonesia. Citizens can start their own business within this new ecosystem and be paid without being concerned about losing their funds to local bad actors. Social Plastic and a path to hope was born.

Cognition Foundry developed the bespoke digital blockchain-based marketplace platform. A digital token was created, thus ensuring funds get into right hands (and away from corrupt bad actors). The tokens are exchanged for healthcare, education, food, and medicine within a network of Plastic Bank retail storefronts. Trust was instilled into the platform through technology-enabled transparency to validate claims using Blockchain.

## Ah-Ha Moments

**Being clear on the Customer and the Beneficiary**  
Finding the right Customer Segment was vital. Once we understood Who truly valued our innovation from the demand side, our business started to rapidly scale.

### David Katz,
CEO and co-Founder
The Plastic Bank

## CF Contribution

### IT Strategy and Architecture
Guidance to the founders on how to start small and be prepared to scale, without sacrificing enterprise-grade availability and data security

### Application Development
Blockchain-as-a-Service,
Hyperledger, Mobile App

### Infrastructure
Designed and maintained a hybrid cloud hosting infrastructure, including incorporating IBM LinuxONE with industry-leading 99.999% availability, scalability, resiliency and security

### Social Investment
Early creative financing enabled the founding team to stay focused on scaling the impact instead of raising additional funds

### Ongoing Application Support and Development
Cognition Foundry continues to work with the Plastic Bank, evolving their platform in response to stakeholder needs

> “Our partnership with Cognition Foundry has been invaluable. It provides the knowledge and connections that have transformed us from a minor enterprise working with pen and paper to effectively having our own leading-edge technology division overnight…”

## Accomplishments

### Plastic Bank featured in IBM Smart Campaign
[Watch](https://www.youtube.com/watch?v=c3vom0p8l7g)

### How Cognition Foundry helped Plastic Bank use blockchain to alleviate poverty
[Watch](https://www.youtube.com/watch?v=spZX4BXtIKc)

### Using #Tech4Good to Tackle Poverty
[Watch](https://www.youtube.com/watch?v=zryWGBK4Odc&t=1s)

### Winner: 2019 UN SDG Award

### Industry Keynote Speaker + Numerous TED Talks

### 110,000 Lives Improved
[Read the Impact Report](https://plasticbank.com/our-impact/)

### Global CPGs Partnerships (SC Johnson)
[Read Story](https://plasticbank.com/client/sc-johnson/)

## Let's Bring Your Idea to Life

#### The World is Waiting. Be the Impact the World Needs Now.
[Let's Unleash Your Idea for Impact Today](/content/founder_stories/plasticbank/#/index.html)