Saudi petrochemical company SABIC is to investigate whether blockchain technology can be used to track circular feedstock in consumer products.
It is working with technology company Finboot, advanced recycling pioneer Plastic Energy and packaging specialist Intraplas to see if it can track its recycled plastic TRUCIRCLE products through the value chain.
If successful, the project will allow all members in the chain to reduce administrative efforts associated with the certification process of materials.
SABIC vice president polymers technology & innovation Waleed Al-Shalfan said: “At SABIC, we have a deep commitment to innovation and technology that can help us to deliver more sustainable solutions to our customers.
“Our vision to create a circular economy for plastics requires a total transformation of the value chain, and pioneering partnerships with partners both upstream and downstream. Blockchain technology holds exciting potential for the provision of our TRUCIRCLE products to customers, and therefore for our commitment to supporting customers in their sustainability ambitions.”