Navigating the Future and Integration of Blockchain and Smart Circular Economy
摘要
Given the increasing use and importance of blockchain platforms and the circular economy concept in practice, this chapter will first address the trends and their dependencies. Secondly, it will identify the essentials of a new economic model that can be considered in these significant times, its status, and the tools that are and could be used. Thirdly, the structure of the essay will be explained. Arguably, information is valuable when there is an expectation that it is useful for better decision-making. Despite technology being theorized to degrade or diminish in importance over time, the information gathered with the help of methods or techniques has maintained consistent interest. Today, two of the trending applications and understandings are blockchain and the circular economy. While one is digitally derived, the other is concerned with the better use of resources. The arrival of digital systems has caused a drastic shift in our daily routines. The capability of society to adapt rapidly is a point of interest today. One of these shifts focuses on new waste management. The main streams form the circular economy model: development, design, production, and consumption; recovery and recycling provide the basis for the revolution in the waste cycle. The substitution of linear usage of products has turned into an opportunity for value by analyzing the residues. Furthermore, critics argue about the benefits of the model today or in the near future for these approaches and their compatibility with current economic practices. Digital systems can also support a better management approach. A new system has been suggested, which enables us to advocate all approaches as mentioned earlier. Blockchain, a technology derived from Bitcoin, has been widely discussed in terms of its success story and future in the area where it used to run digital footprints, despite the failures anticipated in the upcoming years.