Concrete is utilizing blockchain technology to improve plastic waste management in Egypt’s apparel and textile industries. To begin this process, the Egyptian apparel manufacturer is forming a collaboration with the Spanish green technology platform Plastiks. In Egypt, Plastiks will enable the tokenization of plastic debris recovery initiatives sponsored by Concrete.
The web3-powered business strategy of Plastiks will offer plastic collectors in Egypt with extra income in exchange for the vital project information they submit. Companies can utilize this data to choose suitable ventures for financing as a component of their sustainability initiatives.
The waste recovery initiatives of Concrete include “Guardians of the Sea” in the Red Sea Governorate and “Dahab” in the South Sinai Governorate of Egypt. Concrete contributes to the accumulation of plastic waste in these regions and facilitates its recycling into a variety of products.
This collaboration will also enable Concrete to foster sustainability initiatives for its customers more effectively. The collaboration’s text, in addition to the QR code, will be printed on labels that will be sewn into its garments. The customer will be able to access the Concrete Sustainability Dashboard by scanning the QR code. This will provide the customer with access to information regarding Concrete’s recovery projects, such as the location where the used plastic was retrieved, the variety of plastic retrieved, and the invoice number.
This will effectively lessen Egypt’s plastic contamination. As stated by the American Chamber of Commerce in Egypt (AmCham Egypt), Egypt produces a median 5,4 metric tonnes of plastic waste annually, which has a negative effect on the environment.