The contemporary integrated economy and sustainable business are gaining value due to blockchain technology as the circular economy pivots through decentralized, transparent, and immutable advanced approaches. This paper aims to discuss the application of blockchain and AI, IoT and 5g in relation to efficient use of resources, efficiency in waste management and sustainable development. It goes over the applications in vertical sectors, recycling, energy markets, and supply chain traceability to highlight the relevant ethical implications of blockchain for responsible resource consumption and pollution reduction. Also, the research acknowledges global projects such as the EU Blockchain Partnership and the Sustainable Development Goals of the United Nations, which state that maximum prospects of blockchain applications can be achieved through cooperation at the international level and in the development of global legislation. Limitations of the technology are also examined, including the issues of scalability, power use, and environmental factors such as governmental restraints, are also examined in order to furnish a fair determination of the shortfalls of the offering. The study’s conclusion is focused on presenting future research directions in the achievement of innovation and collaboration to advance the circular economy.

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Blockchain Technology and Its Impact on Circular Economy: Real-World Use Cases and Future Potential

  • Amit Kumar Singh,
  • Vikas Garg,
  • Pooja Kaushik

摘要

The contemporary integrated economy and sustainable business are gaining value due to blockchain technology as the circular economy pivots through decentralized, transparent, and immutable advanced approaches. This paper aims to discuss the application of blockchain and AI, IoT and 5g in relation to efficient use of resources, efficiency in waste management and sustainable development. It goes over the applications in vertical sectors, recycling, energy markets, and supply chain traceability to highlight the relevant ethical implications of blockchain for responsible resource consumption and pollution reduction. Also, the research acknowledges global projects such as the EU Blockchain Partnership and the Sustainable Development Goals of the United Nations, which state that maximum prospects of blockchain applications can be achieved through cooperation at the international level and in the development of global legislation. Limitations of the technology are also examined, including the issues of scalability, power use, and environmental factors such as governmental restraints, are also examined in order to furnish a fair determination of the shortfalls of the offering. The study’s conclusion is focused on presenting future research directions in the achievement of innovation and collaboration to advance the circular economy.