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Blockchain use cases

Circular Economy

Circular Economy

The Circular Economy industry aims to promote sustainable resource production and use, product repurposing, and recycling. Blockchain technology can play a key role in achieving this goal by providing traceability, tamper-proof records, and secure digital document management. This can improve transparency and accountability in the waste management process and lead to more efficient and effective waste management. Additionally, blockchain can also increase transparency and traceability of materials throughout the supply chain, reduce resource consumption, eliminate counterfeiting, assist consumers to make smarter decisions, and connect primary and secondary markets to establish a more sustainable economy.

AstraKode for Circular Economy2

Sustainable Resource Management

Inefficiency, waste, and environmental damage result from poor resource monitoring and tracking systems. Blockchain technology may increase transparency and traceability of materials throughout the supply chain, reduce resource consumption, eliminate counterfeiting, assist consumers to make smarter decisions, and connect primary and secondary markets to establish a more sustainable economy.

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Problem

Current systems for monitoring and tracking the use, disposal, and reuse of resources are inadequate, leading to inefficiency, waste, and negative environmental impacts; this is an issue for sustainable resource management in the context of a circular economy. This is due to overlap and double counting of resources, a lack of transparency and traceability, challenges in creating standards and definitions, infrequent monitoring and evaluation, and a lack of periodicity in monitoring and evaluating. The issue is made much more complicated by the fast-growing number of connected devices and the demand for substantial resources to meet the concerns of climate change. This undermines trust and responsibility, making it harder to realize the environmental and economic benefits of a circular economy in which resources are used and reused within a closed-loop system.

Solution

Sustainable resource management in the circular economy can benefit from the use of blockchain technology in a number of ways, including increased transparency and traceability of materials throughout the supply chain, decreased resource consumption, elimination of counterfeiting and its harmful effects on the environment and society, better consumer decision-making, and the linking of primary and secondary markets. This, in turn, can assist to build a more efficient and sustainable circular economy by elongating the lifespan of objects, providing a concrete means for customers to resale or reuse items, and decreasing waste and expenses associated with landfills.

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AstraKode for Circular Economy

Urban Waste Management

The current waste management system has a number of problems, such as contractor fraud, tampering with waste plan reports, and a lack of accurate data. Blockchain technology can fix these problems by providing traceability, tamper-proof records, and secure digital document management. This can improve transparency and accountability in the waste management process and lead to more efficient and effective waste management.

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Problem

Issues with locating new disposal sites, declining landfill capacity, and the inefficiencies of currently used garbage disposal and management technologies are only some of the problems that conventional waste management systems must deal with. These difficulties lead to insufficient waste management, which has consequences for human health, the climate, and the environment, especially in developing nations.
Inaccurate or missing data is another issue with the present-day waste management system. It might be difficult to fix problems if contracts, instruction letters, and other documentation regulating waste management activities go missing.

Solution

Blockchain technology can address issues in waste management such as contractor fraud and manipulation by providing a secure and transparent way to track and verify waste plan reports and payments. By using blockchain, all parties involved can easily verify the filed waste plan and view previous activity, ensuring transparency and eliminating the need for physical documents. Additionally, blockchain can streamline document management by allowing for digital storage and secure access to all relevant information by all stakeholders.

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UseCases

Product Digitalization

Blockchain technology can be used to encourage sustainable resource production and use, product repurposing, and recycling. This is done by digitizing products and packaging, which allows direct communication with customers throughout the product’s journey, gives unique digital watermarks, and collects data on how products are used to reveal hidden insights.

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Problem

Product digitalization in the Circular Economy suffers from a lack of infrastructure and incentives to track and document product lifecycles. Traditional linear economies create, use, and discard products without documentation or consideration for future use. The Circular Economy reuses and recycles products to extend their lifespan. However, without proper digitalization and documentation, these efforts are hard to evaluate and improve. Businesses and policymakers struggle to make informed decisions and implement Circular Economy strategies due to a lack of data and transparency.

Solution

By digitizing products and packaging, blockchain could be able to assist owners of brands in improving their environmental footprint. Throughout the lifecycle of a product, product digitization technology makes it possible for individual components to connect with other devices and communicate directly with end users. In addition to that, it consists of unique digital watermarks and collects information on how products interact with one another to uncover previously unknown data insights.

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