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Ekta, the blockchain that brings physical assets and communities on-chain, has announced its partnership with Plastic Exchange, a Bali-based sustainability movement that empowers communities to change their waste behaviour through dignity-based exchange systems, resulting in cleaner and healthier environments.

Plastic Exchange is a community-led group organised independently by youths, newly formed local groups, and other existing charitable organisations. The group incentivises communities to change their plastic waste behaviour through a barter system of rice for plastic. Once collected, plastic is sent away to be recycled.

Ekta will be working with Plastic Exchange to include the group in the Ekta tokens rewards ecosystem. The repurposed waste from Plastic Exchange will be turned into consumer items such as bags, bowls or art and Ekta will then sell these as NFTs, with proceeds going to Plastic Exchange and the local creators of the pieces. This will free Plastic Exchange from fundraising efforts, allowing them to focus on their core mission.

As an additional part of the partnership, Ekta has also donated IDR 50 million to the Plastic Exchange Foundation, which was used to source five tonnes of rice, feed 20,000 local Balinese and clean up 20 –25 tonnes of non-organic waste matter from the local environment.

“Profit with purpose isn’t just a tagline for Ekta; it is ingrained in our DNA to enhance the physical world through blockchain technologies”, said Berwin Tanco, co-founder of and CEO at Ekta. “Our overarching mission is to help people to make a positive impact on the environment, as well as improve education. This partnership with Plastic Exchange accomplishes all three”.

Tanco added: “As a local Bali resident, the mission of Plastic Exchange is close to my heart. With each cleanup mission, and each funding round we donate to, we contribute to the improvement of local communities in Bali, with the ripple effects felt throughout all of Indonesia and beyond. Ekta was founded for the benefit of local initiatives, and we will continue to build a sustainable ecosystem and financial future for all”.

Each year, Indonesia produces some 6.8 million tonnes of plastic waste, with only around 10% making its way to recycling facilities. Instead, a huge 625,000 tonnes of plastic ends up in the ocean. Plastic Exchange is dedicated to combating plastic dumpage, with over 300 tonnes of plastic already collected by local groups, and 12,000 households fed in return for their help in assisting the cleanups.

On the 2nd of October 2021, Ekta and Plastic Exchange hosted a collaborative event in Banjar Desa Tibubeneng to educate locals on ways to have better plastic waste-management and recycling habits.

•  The event facilitated an exchange of 300kg of rice and vegetables for recyclable waste and plastics.
• A workshop was hosted during the event, to educate locals on turning recycled plastics into arts and crafts.
• Long-term goals include weekly or monthly workshops to teach locals how to create art out of plastic, to sell in the global market.

“Plastic Exchange is excited to be partnering with Ekta. We share a common vision that encompasses cultivating healthier environments, educating through action, and empowering local economies. We look forward to collaborating towards positive contributions for humanity, starting in Indonesia”, said I Made Janur Yasa, founder of Plastic Exchange.

The next Ekta and Plastic Exchange event will take place in Desa Tibububeng on the 23rd of October from 10am to 12pm.

Ekta and Plastic Exchange are also reaching out to other local organisations, influencers, artists and musicians that align with their mission, to host more of such events.

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