Leveraging Blockchain Applications for Corporate Social Responsibility (CSR) Towards Circular Economy: A Review
摘要
This chapter discusses how much Blockchain has evolved and encourages contemporary industries toward better transparency, accountability, and sustainability. Hence, this chapter deals with a review of the concept of CSR, after which a discussion is given on how Blockchain works in harmony with CSR values in promoting responsible and sustainable business behaviour. It describes Blockchain as a potent tool to boost stakeholder trust by allowing verifiable, tamper-proof data records that assure transparency in reporting and compliance. These are holistically categorised into public, private, and hybrid Blockchains. The paper provides an in-depth view of the advantages, limitations, and applications of each kind of Blockchain to enable further comprehension of how it works in various industries. Particular attention is paid to supply chain management, where Blockchain allows for real-time tracking, authenticity, and reduction of inefficiencies, and as such will be a significant enabler for digital transformation. Further, the work looks at the integration of Blockchain in digital technologies to show its capability to enable streamlining operations, cost reduction, and enhancement of decision-making. In the higher education environment, Blockchain is a game-changing invention that allows for the safe verification of credentials and collaboration and ensures academic integrity. However, despite these advantages, the chapter addresses several challenges: scalability issues, high energy consumption, regulatory gaps, and resistance to adoption. It also outlines several viable solutions that transcend these barriers: energy-efficient Blockchain models, establishing global regulatory standards, and stakeholder awareness and collaboration. The discussion illuminates how Blockchain could harmoniously develop into an industrial transformation with transparency, sustainability, and innovation.