The increasing global consumption of resources, in combination with a predominantly linear carbon-based economy, is generating a debt-based unsustainable growth. As a result, the demand for adopting sustainable strategies, such as Circular Economy, has increased among firms and has been proposed as an alternative capable of decoupling natural resource consumption from economic growth. Blockchain technology, thanks to its decentralized and trustful nature, allows to create a bridge among participants in the circular chain to provide visibility into waste path history and product material composition, promote sustainable behaviour through reward programs and optimize chain management.
One of the main obstacles Circular Economy faces is the ability to share information across participants (manufacturers, consumers, waste management companies, etc.). Information like product provenance and composition or recycling method are key to address correctly all actions stakeholders need to undertake in order to reintroduce the most quantity of material into the circular value chain. Armilis Trusted Labels and Trusted Connector provide the framework to fill the gap between participants and provide transparency and visibility with a certified eco-profile containing material information that can be shared along the entire value chain.
Consumers are a crucial part in the circular economy and encourage them to take part in it is of most importance in order to break the linear-economy model. Despite the efforts done so far, there is not a reward system in place for sustainable behaviour that benefits those whose recycling actions allow companies to reduce waste and economic loss, specially for those products where the material composition value is still high, like electronic equipment. By creating an eco-token we can provide the framework and tool to incorporate a tangible value for consumers and increase their interest and participation rate.
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