PlasticCoin: an ERC20 Implementation on Hyperledger Fabric for Circular Economy and Plastic Reuse

Abstract

Cryptocurrencies have gained popularity in the last few years, thanks to the democratization of Bitcoin. However, most of these currencies have a very general purpose, namely of allowing people to pay their products with an electronic, decentralised currency. Moreover, the lack of trust of these open-network blockchains comes at a significant economic cost. In this paper, we present PlasticCoin, a cryptocurrency empowering plastic reuse in a circular economical model, that anyone can join, and that respects the ERC20 specifications on a consortium blockchain. We also explore the economical ecosystem revolving around PlasticCoin, and also introduce a way to print tickets that can temporarily hold the role of physical banknotes. Finally, we show that our system is flexible, and it can be adapted to many other business purposes.