At the Nexus of Blockchain Technology, the Circular Economy, and Product Deletion

Abstract

The circular economy (CE) is an emergent concept to rethink and redesign how our economy works. The concept recognizes effective and efficient economic functioning at multiple scales—governments and individuals, globally and locally; for businesses, large and small. CE represents a systemic shift that builds long-term resilience at multiple levels (macro, meso and micro); generating new business and economic opportunities while providing environmental and societal benefits. Blockchain, an emergent and critical technology, is introduced to the circular economy environment as a potential enabler for many circular economic principles. Blockchain technology supported information systems can improve circular economy performance at multiple levels. Product deletion, a neglected but critical effort in product management and product portfolio management, is utilized as an illustrative business scenario as to blockchain’s application in a circular economy research context. Product deletion, unlike product proliferation, has received minimal attention from both academics and practitioners. Product deletion decisions need to be evaluated and analyzed in the circular economy context. CE helps address risk aversion issues in product deletions such as inventory, waste and information management. This paper is the first to conceptualize the relationships amongst blockchain technology, product deletion and the circular economy. Many nuances of relationships are introduced in this study. Future evaluation and critical reflections are also presented with a need for a rigorous and robust research agenda to evaluate the multiple and complex relationships and interplay amongst technology, policy, commerce and the natural environment.

Circular Economy and E-Waste: An Opportunity from RFID TAGs

“…Moreover, the consumer, in this sense, represents an important piece for the circular economy, in order to increase the number of raw, recovered materials [50][51][52][53][54][55]. Table 7 is related to the materials that compose an RFID TAG, highlighting which of these materials, according to the Institut für Aufbereitung und Recycling RWTH Aachen University (I.A.R.)…”

From Trash to Cash: How Blockchain and Multi-Sensor-Driven Artificial Intelligence Can Transform Circular Economy of Plastic Waste?

“…The blockchain technology serves as a trust-based platform between plastic waste segregators, recyclers, and recycled feedstock buyers (manufacturers). The blockchain network has distributed, but not copied, digital information (Adebiyi-Abiola et al 2019;Crosby et al 2016;Drescher 2017;Kouhizadeh and Sarkis 2018;Kouhizadeh et al 2019;Mansfield-Devine 2017;Romano and Schmid 2017;Sekhri 2018;Wang and Qu 2019). This digital information is validated by various partners during each transaction.…”

Carbon Emission and Plastic Pollution: How Circular Economy, Blockchain, and Artificial Intelligence Support Energy Transition?

“…Gathering such information from plastic waste greatly enhances segregation process. These collected data from plastic waste are also distributed and validated on the blockchain platform, which serves as a trust-based network (Crosby, Nachiappan, Pattanayak, Verma, & Kalyanaraman, 2016;Drescher, 2017;Kouhizadeh & Sarkis, 2018;Mansfield-Devine, 2017;Romano & Schmid, 2017;Sekhri, 2018;Kouhizadeh, Sarkis, & Zhu, 2019;Adebiyi-Abiola, Assefa, Sheikh, & Garcia, 2019;Wang & Qu, 2019). We use this blockchain platform as a backbone to share and validate valuable information (also called as digital transaction) between plastic waste segregators, recyclers, and feedstock buyers (manufacturers).…”