All you need to know about Plastic Finance

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Written by

SubhanSJ

SmartBCH Lover :)

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Decentralization, Bloakchain, PLAS Token, Plastic Finance, Adoption, ...

StartUp

Former bankers, ex-capital market players, a plastic recycle entrepreneur, and prominent programmers from Bandung, Medan, and Surabaya, Indonesia, have been working together to develop DeFi (decentralized Finance) based apps which provide plastic grinds exchanger, plastic loans & saving bank, and plastic recycle based stable coins indexes.

Plastic is currently used as the primary or wrapping material for the majority of products in this market. Plastic is a low-cost, long-lasting, and energy-efficient material. Plastic, on the other hand, has a negative influence if utilized in the long run; if it is used indefinitely, it will become a social problem with a negative environmental impact. Therefore, the government and community groups are moved to be able to recycle or reduce the use of plastic, so that the negative impact of using plastic can be reduced.

Everybody knows that such effort to clean plastic waste in the second most plastic polluted nation (Indonesia), using digital mobile apps have been started from the last 4 years. To name a few, there are at least 2 other startups doing this, “but, the others are focusing more to household waste, and we focus more to plastic waste collector’s well-being. We aim to elevate the welfare of waste collector by giving them access to credit through cryptocurrency DeFi, the environment impact is the byproduct result of the whole process.” says Mr. Agung Dumadio, the COO of Plastic Finance.

What is Plastic Finance?

Plastic Finance is a financial platform that focuses on plastic recycling by promoting a circular economy to improve the recycling system. Plastic Finance will pay more attention to the productivity of waste pickers because as is well known, waste pickers are one of the important players in plastic recycling. Waste pickers will go around to various places to pick up trash and sort it in landfills, and then it will be sent to a plastic waste treatment plant. By increasing the productivity of the waste pickers, we can improve the recycling system and increase the status of the waste pickers, because as is well known, the status of waste pickers in the eyes of people is quite low, and by increasing their social status, we can improve their lifestyle.

Plastic Finance is also concerned about the community's involvement in the recycling scheme. Enable all participants to be able to benefit and contribute to plastic recycling. Plastic Finance can thus motivate everyone to participate in plastic recycling.

Plastic Finance’s Slogan: “Recycle, Re-use, Prosper”

What are the features of Plastic Finance?

Plastic Finance aims to become a platform that will improve the recycling system with a circular economy. By utilizing cryptocurrency and DeFi, Plastic Finance can increase the productivity of the community, especially the waste pickers who have an important role in plastic recycling. Plastic Finance is not trying to disrupt the market with the various features and solutions it offers, but Plastic Finance is trying to add value by enabling everyone to participate in plastic recycling and benefit from it.

The following are the features of Plastic Finance:

Decentralized Finance: Plastic Finance allows consumers to take advantage and participate in the different DeFi options available.
Using IoT and Blockchain: Plastic Finance uses blockchain and IoT technology to make the recycling industry more efficient and transparent.
Sustainability of the Platform: Plastic Finance allows investors to participate by purchasing native Plastic Finance tokens, ensuring the platform's long-term sustainability.
Profit-Sharing Mechanism: Plastic Finance allows token holders to earn profit just by holding tokens.
Tree Planting: Plastic Finance supports a token planting program in areas to increase oxygen and reduce carbon dioxide.

What is PLAS Token?

PLAS (Plastic Finance Token) is a token that will serve as a utility token. PLAS is based on the Binance Chain BEP-20 with a total supply of 23,900,000 PLAS tokens. Users can use PLAS tokens for various purposes such as accessing various features on the platform, payments, etc. PLAS tokens can be purchased via a private sale program.

Plastic Finance has recently done an airdrop program for PLAS tokens, which ended on 20th May 2021.

Conclusion

Plastic Finance is a financial platform that focuses on plastic waste recycling systems. Plastic Finance adopts a circular economy system and increases the productivity of waste pickers and communities who are members of the recycling network. So that by empowering all participants, Plastic Finance can improve the recycling system to be more modern, innovative, and profitable for all parties, thus we can encourage more people to participate in plastic recycling.