MNC research - Recycling Trash into Treasure

INOV has just launched a new app called PlasticPay, which is a block chain system where people will get rewards from bringing plastic bottles to the collection point. The purchase price of waste PET bottles has risen from IDR 5,000 per Kg in early 2013 to an average of IDR 7,000 per Kg. So the intention with PlasticPay is to gather raw materials from the masses based on the weight of the bottles, rather than buying them for a higher price from a third party. PlasticPay is being tested on several convenience stores, as one of the collection points. The rewardscollected from the app can be monetized or used by the user as cash to shop at the convenience store. INOV has just launched a new app called PlasticPay, which is a block chain system where people will get rewards from bringing plastic bottles to the collection point. The purchase price of waste PET bottles has risen from IDR 5,000 per Kg in early 2013 to an average of IDR 7,000 per Kg. So the intention with PlasticPay is to gather raw materials from the masses based on the weight of the bottles, rather than buying them for a higher price from a third party. PlasticPay is being tested on several convenience stores, as one of the collection points. The rewards collected from the app can be monetized or used by the user as cash to shop at the convenience store.