LONDON, 8 AUGUST, 2023 – nChain, a global leader in Web3 solutions, today announces the signing of a strategic partnership agreement with Universal Plastic, to achieve common sustainability goals towards ocean protection: regenerating the marine ecosystems by taking out plastic, giving agency to locals by fairly rewarding them for their efforts and making companies act upon their footprint, getting a step closer to the ESGs.
In this partnership, nChain is investing €2,000,000 and acquiring a 20% stake in the equity of Universal Plastic. This partnership aims to support and enhance Universal Plastic’s technology offerings by licensing nChain’s intellectual property (IP) portfolio. Universal Plastic intends to leverage nChain’s expertise in Web3 technologies to drive social impact initiatives, firmly positioning themselves at the forefront of sustainable innovation.
Powered by nChain’s technology the partnership will merge transparency, social engagement, and quantifiable impact, and seeks to mitigate the effects of plastic pollution while propelling forward the pioneering work of ocean defenders dedicated to ecosystem regeneration.
“nChain is committed to fostering a global wave of social impact. Our collaboration with Universal Plastics exemplifies our mission to facilitate transparent and trustworthy avenues for companies to honour their environmental commitments. Together, we catalyse positive ecological change by leveraging emerging technologies, enabling companies to embrace environmental stewardship and pave the path to a better world,” commented Stefan Matthews, CEO of nChain.
Alvaro Bravo Hernandez, CEO of Universal Plastics, commented, “This partnership with nChain is a momentous leap toward our threefold vision – restoring marine ecosystems, empowering local communities, and catalysing corporate environmental responsibility. The disruptive potential of Web3 technology aligned with our mission transforms aspirations into realities.”
The partnership between nChain and Universal Plastics represents pioneering efforts in environmental initiatives, underpinned by the potential of Web3 technology, to create a digital blue economy that sustains and regenerates the ecosystem.
About Universal Plastic
UNIVERSAL PLASTIC® (UP) is a scientifically supported ( Bazaruto Center for Scientific Studies ) Artificial Intelligence (AI) and Blockchain-Based initiative. We developed the first tech platform to quantify, audit and notarise data from plastic waste collections. This aims to regenerate marine ecosystems by incentivising plastic waste collections led by local communities. Through the data management of this process, our platform provides an inclusive, accessible, and trustworthy way to align corporations with ESG by connecting and engaging them with local individuals, communities and organisations that are at the forefront of restoring nature.