The Potential of Blockchain Applications in Urban Industrial Symbiosis

Abstract

In many cities and their surrounding environments, materials are wasted and underutilized. As a result, waste and energy recovery can play a critical role. The concept of circularity can be applied to urban environments and their areas of influence in order to stimulate Urban Industrial Symbiosis (UIS). As such, it is vital for cities to have a robust and trustworthy information management infrastructure. A blockchain-based system can provide the accountability the UIS networks need to become traceable, transparent and unchangeable for all the parties involved. Similar to the benefits that blockchain can provide supply chain networks, UIS could benefit from blockchain as well. In this article, we look at blockchain and Smart Contracts as a way to benefit UIS, what they can be used for, what the goals and potential limitations for their implementation are, and how those goals and limitations might influence UIS. Finally, through the implementation of modular blockchain architecture, an UIS blockchain model based on smart contracts is proposed.