Key roles of blockchain in a circular economy👇

Product and material traceability:

A blockchain can track a product's journey from creation to end-of-life, including the sourcing of its components, a process that is often opaque in traditional supply chains.

Verifying circularity:

It provides a tamper-proof record that can certify the recycling paths of materials, assuring consumers of a product's sustainability claims and allowing for the creation of digital "green passports" for goods, notes Circuloos and the Ellen MacArthur Foundation.

Enabling new business models:

By providing a secure and verifiable record, blockchain facilitates new models like shared ownership, refurbishment, and resale markets, as it can assign a financial value to reused components.

Incentivizing sustainable behavior:

It can underpin incentive programs, rewarding consumers for returning products for recycling or for extending a product's life through repair.

Improving supply chain efficiency:

It builds trust and transparency among different supply chain actors, which helps to reduce inefficiencies and miscommunication in managing the flow of materials.