New app designed to facilitate plastics recyclables trading
Silicon Valley startup Scrapo is working to bridge gap between plastic scrap buyers and sellers
According to Scrapo, Inc., a Silicon Valley startup, one of the most important problems that surrounds the world environment today is the amount of plastic waste that ends up in the landfill. More than 90% of the plastic products are not recycled and almost 75% of them find their way in the landfills. This has resulted into more than 6 billion tons of plastics having been dumped in the landfills so far and the numbers are increasing alarmingly every year. And it takes more than 500 years for most of these plastic materials to decompose completely. One way of tackling this situation is by reducing the production of plastic materials by reducing the consumption itself. However, because plastic products have become an indispensable part of our daily lives, it's not so easy to get rid of them. The other way is by ensuring that plastic scraps are reused and recycled.
While the main reason a lot of scraps are not recycled is because they are of low quality, another reason why a substantial amount of scraps is dumped is because the companies who generate or collect scraps can't always find buyers for the materials. The irony is, according to Scrapo, is that there are companies around the world who need such scraps either to recycle or as a feed in their production but can't find them when needed. The company has now introduced an App designed to solve the issue.
Scrapo believes that if we are able to simply bridge the gap between the plastic scrap buyers and sellers, it would have a tremendous positive impact on the environment. Rashad Abbasov, the CEO of Scrapo, Inc., notes, "We have to understand that if plastics continue to find place in landfills or in the ocean instead of recycling centers or production plants, we are all going to suffer. So we thought why not help plastic scraps find the right place? Even if our efforts lead to a single percentage increase in the amount of plastics recycled or reused globally, we would be happy that we contributed towards making the world a better place."
Scrapo's idea is simple - make it easier for buyers and sellers of plastic scraps to instantly discover, negotiate and close deals so that more plastic scrap is consumed. A seller can list their materials in the Scrapo app in seconds and receive bids from interested buyers from all across the globe. Best of all, with Scrapo mobile apps you can do it right from your phone. To facilitate trade in the platform, Scrapo has integrated real-time communication tools so that traders don't need to check their emails or get on phone calls anymore.
"The idea is to promote free market philosophy and increase participation through use of technology," added Abbasov, "If you as a trader, big or small, have access to hundreds of offers instead of a few, you are more likely to find a better deal and close it sooner."
According to Scrapo; One of the factors that undermine the market efficiency and create barriers for trade in this industry is the lack of trust between buyers and suppliers. the company says buyers in most cases don't know suppliers, nor can they be sure of the quality of the material they should expect to receive unless they visit and inspect materials at the seller's site themselves. This is of greater concern for international buyers who trade with sellers outside of their home country. Similarly, from a seller's perspective, guaranteed on-time payment is a big concern. There are some marketplaces which verify a trader's identity online when they register on their platform. However, just verifying the identity is not enough. Guaranteeing quality and payment is equally important to facilitate a smooth and secure deal.
When asked what his take on the trust issue is, Abbasov said, "We understand that trust is the biggest concern surrounding this industry. That's why we have come up with an innovative solution - an on-demand service called ScrapoSure - to ensure trust and security. If a buyer is ready to move ahead with a deal which they have negotiated with the seller, they can opt to avail ScrapoSure. Under this service, our team personally visits the seller's site, verifies their identity, inspects the materials the seller has, supervises the loading process and assists with the logistics. We also provide escrow payment services so that if all goes well with the deal, the seller receives the payment as soon as the material is shipped. We want to make recyclables trading as easy and secure as buying a book on Amazon."
Scrapo says their app will change the face of recyclables trading as we know it, is giving the industry a much needed makeover, and will make trading plastic recyclables easy and secure. According to the company, the more people trade, the less scraps will end up in the landfill thus having a positive impact on the environment. It's always inspiring to see a disruptive startup change the way business is done in an old industry.
Scrapo is available at www.scrapo.co or download the app from App Store or Google Play.