Plasticoin, the cryptocurrency that wants to clean up Uruguay’s coast – Contxto

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Contxto Two entrepreneurs want to clean up beaches using crypto. As a result, theyve joined forces with the Uruguayan governments National Agency for Development (ANDE).

Essentially, people will be able to gather plastic and then trade it for Plasticoins. They will then use this emerging cryptocurrency to acquire products and services at a discount with associated businesses.

The eco-friendly Plasticoin is set for full launch next summer in the coastal region of Piripolis, Uruguay.

Related article: Chilean sustainability startup Algramo to introduce portable repackaging units to US

The minds behind Plasticoin, Juan Rivero and Nicole Wyaus want this unique crypto to encourage people to separate their trash. And to incentivize this good behavior theyve come up with a cryptocurrency-based solution.

So this is how it works:

A person signs up and recollects as much plastic as they can. And for every kilogram of plastic they gather, they can exchange it for Plasticoins.Pricing is as follows:

In all instances, the plastic must be cleaned and compacted.

Anyway, the entrepreneurs and ANDE have prepared two collection centers where people can bring their plastic to be weighed and then exchanged for Plasticoins.

This cryptocurrency can be used to achieve discounts on products and services with partnering businesses. For example, two for one surf lesson.

As for the plastic thats gathered, it shall be reused for streets and in construction.

Related article: Conceptos Plasticos partners with UNICEF to build schools made of plastic in Ivory Coast

For the moment, Plasticoin is still in its pilot phase in one small location. Yet there are over 600 people whove registered to participate.

Further down the road, the project may even expand further to other parts of Uruguay such as Maldonado, Sols, Ocean Park, and Pan de Azcar.

Moreover, Juan Rivero and Nicole Wyaus hope to eventually bring Plasticoins to the coastal parts of Argentina, where plastic too plagues its lovely beaches.

I must admit its not entirely clear how this will transform into a business model for the entrepreneurs (Ill keep you posted!). Nonetheless, I found it to be an interesting initiative. And hopefully, it will be replicated in other parts of Latin America.

In many countries, separating garbage is the norm. But its still not common in Latam. Consequently, this type of project may motivate people to make an effort for the planet we all live in.

Related articles: Tech and startups in Uruguay!

-ML

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Plasticoin, the cryptocurrency that wants to clean up Uruguay's coast - Contxto