Abstract
Eco-friendly systems are necessitated nowadays, as the global consumption is increasing. A data-driven aspect is prominent, involving the Internet of Things (IoT) as the main enabler of a Circular Economy (CE). Henceforth, IoT equipment records the system’s functionality, with machine learning (ML) optimizing green computing operations. Entities exchange and reuse CE assets. Transparency is vital as the beneficiaries must track the assets’ history. This article proposes a framework where blockchaining administrates the cooperative vision of CE-IoT. For the core operation, the blockchain ledger records the changes in the assets’ states via smart contracts that implement the CE business logic and are lightweight, complying with the IoT requirements. Moreover, a federated learning approach is proposed, where computationally intensive ML tasks are distributed via a second contract type. Thus, “green-miners” devote their resources not only for making money, but also for optimizing operations of real-systems, which results in actual resource savings.
Highlights
A Circular Economy (CE) is composed as a regenerative ecosystem
While our approach is applicable for a wide spectrum of CE-Internet of Things (IoT) applications, in this study we demonstrate the operation of blockchaining in the field of Information and Communications Technology (ICT)
The current setting complies with the guidelines and directives of the HEYPERLEDGER project, which constitutes an umbrella initiative for blockchain research
Summary
A Circular Economy (CE) is composed as a regenerative ecosystem. The large-scale application of these CE aspects drives modern business models and economic transformation [3,4]. The CE review studies in [1,2] present the business principles of the new initiative. The enhanced collaborations between the involved entities in a CE lifecycle is considered of great importance, both for businesses that want to make the transition to circular operational models as well as for start-ups that are building their circular model from scratch [5]. Smart devices and the IoT ecosystem enable new forms of interaction and business models. The transformation of the traditional market into a service-oriented setting is a fact. The integration of CE and IoT further promotes such data-driven service-oriented architectures (SoA) [5,6,7]
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