World Economic Forum | February 22, 2021
BanQu named a Circulars Accelerator Cohort ’21 member
At BanQu, we are humbled, thrilled, and honored to be featured in the very first cohort of innovators in the Circulars Accelerator program. For years we have championed circularity for transparent and equitable supply chains, and our focus on technology being a key enabler of the circular economy has set us apart. Becoming a member of the Circulars Accelerator ’21 cohort not only helps us support other like-minded businesses and organizations, but gets us that much closer to our goal of eradicating extreme poverty throughout the globe.
An initiative of Accenture, the Circulars Accelerator grew out of the Circulars award program, which recognized innovators in the circular economy. The threefold mission of the Circulars is simple: “accelerate the global circular transition, create value & impact for our innovators, partners and network, and drive action-focused collaboration through the ecosystem.” The Circulars Accelerator provides resources their innovators need to scale up their circular solutions and accelerate their efforts.
While the Circulars program was mostly reactive, the Circulars Accelerator efforts are proactive, as they support each of their innovators towards broader adoption of their circular solutions, in both speed and scale.
This recognition only further cements BanQu’s legacy as an innovator in the circular economy movement. Our blockchain supply chain solution has already had a profound impact on some of the poorest communities in the world, and we are committed to expanding this impact as we move into a more sustainable and more circular future.
On February 11, BanQu CEO and co-founder Ashish Gadnis took part in a panel moderated by Antonia Gawel, Deputy Head of PGPG; Head of Circular Economy and Innovation; ExCom Member, World Economic Forum. The panel aimed to further explore the idea of circularity, and to share, promote, and encourage the people and businesses that are moving these efforts forward.
During the livestream, Gadnis explained:
One of the biggest problems in the circular economy is gender inequality and extreme poverty. So if you are a mother picking up bottles, plastic, cardboard on the streets of Colombia, you’re completely invisible in that supply chain, even though that plastic bottle comes back into the brand. So how we use blockchain is to solve that.
If you talk to that mother today who uses BanQu on the streets of Bogota, every time she sells a bottle that makes its way back to Bavaria as a returnable, she, via a simple SMS message, gets this economic passport that not only identifies her existence in the supply chain, but builds history that now allows her to start breaking the cycle of poverty.
So we’re using blockchain in a non-crypto fashion, in a way that she can prove her existence in the supply chain.
You can watch the archived livestream here.