Abstract
The circular economy (CE) is an emergent concept to rethink and redesign how our economy works. The concept recognizes effective and efficient economic functioning at multiple scales—governments and individuals, globally and locally; for businesses, large and small. CE represents a systemic shift that builds long-term resilience at multiple levels (macro, meso and micro); generating new business and economic opportunities while providing environmental and societal benefits. Blockchain, an emergent and critical technology, is introduced to the circular economy environment as a potential enabler for many circular economic principles. Blockchain technology supported information systems can improve circular economy performance at multiple levels. Product deletion, a neglected but critical effort in product management and product portfolio management, is utilized as an illustrative business scenario as to blockchain’s application in a circular economy research context. Product deletion, unlike product proliferation, has received minimal attention from both academics and practitioners. Product deletion decisions need to be evaluated and analyzed in the circular economy context. CE helps address risk aversion issues in product deletions such as inventory, waste and information management. This paper is the first to conceptualize the relationships amongst blockchain technology, product deletion and the circular economy. Many nuances of relationships are introduced in this study. Future evaluation and critical reflections are also presented with a need for a rigorous and robust research agenda to evaluate the multiple and complex relationships and interplay amongst technology, policy, commerce and the natural environment.
Highlights
Imagine a world without waste [1]
We provide some examples, some of which will guide our framework for the evaluation of blockchain, circular economy, and product deletion relationships
Product deletion is interrelated with circular economy practices
Summary
Imagine a world without waste [1]. That is the imagery presented by circular economy (CE). To make this vision a reality, social, technological, and commercial cooperation, at the very least, is needed. The advent of new technologies and digitization has taken on greater importance as a more interconnected world emerges. There will be practical and research issues related to evaluating the nexus of these three topics—product deletion, blockchains and the circular economy. Each of these concerns is necessary for advancement in multiple directions, but especially implicating the effectiveness and efficiency within a circular economic environment
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