Cooperation and blockchain necessary to boost the circular economy
The Circular Economy is a term that is frequently heard nowadays, especially when discussing business sustainability. This concept is referred to as a way of having a more sustainable and regenerative economy. It aims to change the production and consumption of goods and services, attempting to manage natural resources more efficiently, minimize waste, and reduce environmental impact.
Instead of continuing to use the traditional linear economic model, which is based on using and disposing of resources, the circular economy seeks to keep resources in use for as long as possible. This circular innovation affects a company's entire value chain, from product design to production and recycling. To bring about such a significant change in the system, it is important that stakeholders become involved in the process. Collaboration between companies, governments, NGOs, and citizens will be essential to achieving this significant change in the way we think and act.
Collaboration for Sustainable Circularity
The various collaborators often have different priorities and objectives, which can lead to a lack of trust and transparency. To avoid this affecting the project, stakeholders need to develop a shared vision and work towards a common goal. In addition to collaboration between different organizations, collaboration within organizations is also necessary. They all need to focus their activities on a sustainable vision, where circularity is integrated into different areas of the business.
Currently, most consumers do not have sustainable responsibility, and the products they consume are disposable. For this reason, it is necessary to change consumers' behavior towards more sustainable consumption patterns, and they are an important part of the system. Achieving a change in consumers requires the work of the various stakeholders previously mentioned, to promote sustainable consumption and educate consumers about the benefits of a circular economy.
Circular innovation is a unique opportunity for companies that want to offer more sustainable and efficient solutions. To achieve an effective circular economy, it is crucial that different stakeholders collaborate and work together. This helps to create a change in the system and promotes the development of circular solutions.
Blockchain and the Circular Economy
Blockchain technology has been one of the fastest-growing technologies in recent years. It can generate secure and trustworthy ecosystems with decentralized information. These qualities enable the technology to unify the information shared by different network participants, offering transparency and avoiding possible conflicts, frauds, or differences.
CircularPort is a project from Blue Room Innovation aimed at developing and promoting the circular economy in ports throughout Europe. This initiative seeks to transform ports into centers of innovation and sustainable development by implementing circular strategies in port activities. The project is working in collaboration with different actors in the port sector, including port authorities, public and private companies and organizations.
CircularPort also offers resources and tools to help ports adopt more sustainable and circular practices, including an online platform with information and tools for data-driven decision-making. The WastePassport is one of the digital tools that allows for the tracking of waste throughout the value chain, with the goal of improving waste management and reducing its environmental impact. On the other hand, the ProductPassport is a similar tool but focused on products, allowing for the tracking of key information such as origin, composition, and environmental footprint. Both tools are important in the context of the circular economy, as they enable better control and tracking of materials and products throughout their life cycle.