Plastic Credit Exchange (PCX), the first global nonprofit plastic offset program, recently partnered with Microsoft to develop a blockchain-protected credit registry. The revamped credit registry will ensure the public and relevant stakeholders that all transactions within the exchange are secure, transparent, and reliable.
Established in 2019, PCX partners with sustainably conscious businesses worldwide to responsibly offset their plastic footprints. PCX has built a wide ecosystem of partners to facilitate the recovery, transport, and processing of post-consumer plastic waste, seeking out the most environmentally sound solutions. To date, PCX has enabled the removal of more than 18 million kilograms of plastic waste from the environment.
âIt is important that the credit registry is trustworthy and available to the public,â PCX founder and chairwoman Nanette Medved-Po shares. âBy 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.â
Blockchain technology has the potential to extend digital transformation beyond any organizationâs boundaries and into the processes it shares with suppliers, customers, and partners. At its core it is a shared, distributed, secured, immutable ledger which is connected in a peer-to-peer network.
PCX sought Microsoft as a global technology partner for a Microsoft Azure-based blockchain solution. Microsoft prototyped a blockchain-protected ledger through its Microsoft Technology Center to provide confidence, traceability and transparency within the PCX ecosystem.
âSustainability and humanityâs response to it is one of the greatest challenges of our lifetimeâa planet-sized challenge that requires a planet-sized response,â Microsoft Philippines Country Manager Andres Ortola said. âWherever we can apply our strengths as an innovation company, we are committed to bringing the full weight of our platform and technology forward. At Microsoft, we exist to empower every person and organization on the planet to achieve moreâincluding the planet itself.â
The blockchain-protected credit registry can be viewed on the PCX web site at www.plasticcreditexchange.com.