SK Geo Centric has introduced Korea’s first platform utilizing ‘blockchain technology’ for recording and tracking the history of recycled plastic materials, said Process-worldwide.
By leveraging the tamper-proof nature of blockchain, it aims to ensure that customers can be rest assured when using recycled plastic materials and expand the materials’ range of use.
The recently launched history-management platform for recycled plastic materials by SK Geo Centric records and manages all processes, from the collection of waste plastics to their recycling and transformation into new products, using blockchain technology. Blockchain is a distributed data storage technology where the ‘blocks’ containing data are replicated and stored on multiple computers, and linked like a ‘chain’ to compare and verify each other’s authenticity. It is impossible to forge or alter the data without permission. Therefore, it is being used to increase trust in fields such as cryptocurrencies and financial certifications.
Recycling of waste plastic is gaining the limelight as an alternative solution to environmental pollution, but there are also some doubts about the source and safety of collected waste plastics. In addition, manufacturing companies want to confirm whether the components of parts using recycled materials are suitable for production. Such needs require more advanced information than what the existing ‘ISCC Plus certification’ provides. SK Geo Centric has identified these concerns from client companies and consumers while promoting its plastic recycling business. As a result, it introduced the history-management platform to address these concerns.
The history-management platform records all processes, from securing waste plastics to recycling them into materials, and finally producing the complete product. Intermediate producers and consumers can scan the QR code attached to the product with their smartphones to check the entire recycling history of plastics used for the product. The recycled plastic history information includes the types and sources of the waste plastics used as raw materials, as well as the proportions of each material used to make a new product. Similarly, detailed information needed by intermediate producers, such as the quality grade of a material, is also included. Therefore, the history-management platform can ease the difficulty of getting through the certification process regarding the suitability of recycled materials and reduce the cost required for the process.
We remind, SK Geo Centric Co announced that it will create a joint venture with Loop Industries of Canada to build a cluster for plastic recycling. The company will hold 51% of the JV and will create recycling facilities in Ulsan, South Korea by 2025. The plant will make 70,000 tonnes/y of polyethylene terephthalate (PET) resin for packaging and polyester fibre applications using Loop's depolymerisation technologies. The team intends to build three additional manufacturing facilities in Asia by 2030. SK Geo Centric is a petrochemical unit of SK Group.
mrchub.com