BanQu - A platform for enabling traceable, transparent and equitable supply chains | Knowledge Hub | Circle Economy Foundation
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Business case
BanQu - A platform for enabling traceable, transparent and equitable supply chains
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BanQu paves the way for a more transparent, traceable and most importantly equitable supply chain through non-crypto blockchain technology from the producer to the end customer. The platform connects people, organisations and assets to help global brands to cut costs, bring order and transparency to their supply chains, and elevate millions of people out of extreme poverty at the same time.

Problem

Millions of waste-pickers, recyclers work in our global circular economy yet, are completely invisible. Global brands are racing to meet their ESG and circularity goals by ensuring materials are either recycled or reused but what about the millions from the streets of Bogota to Lusaka that do the hardest work in this circular economy. These amazing waste-pickers are left out, discriminated, shunned and unbanked.This "first-mile" is in extreme poverty, strife with gender inequity and forced child-labor. This is a problem.

Solution

BanQu is a for-profit-for-purpose software platform/solution which connects the "first-mile" to the circular supply chain in a way that not only proves their existence but validates their supply chain impact. Via a simple SMS-message in the local language, BanQu empowers the poorest waste-pickers/recyclers with an "Economic Passport" that guarantees proof-of-delivery, payment (in local currency) confirmation and history of their hard work. For brands BanQu reduces waste, increases recycling/reuse and meets specific UN SDGs related to gender equality, poverty reduction and responsible consumption.

Outcome

Since 2016 BanQu has enabled major brands achieve sustainability goals in agriculture, recycling and human rights. 1+ million first-mile-last-mile beneficiaries in 45 countries.

Additional information

Since April 2020 BanQu has also enabled hundreds of thousands of vulnerable communities get life-saving Covid-19 supplies and food aid.

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