EcoTrace: A Blockchain-Based E-Market Platform for Enabling a Circular Economic Ecosystem for Electronic Devices through Trading and Tracking of Electronic Devices and E-Wastes
1Department of Computer Science and Engineering, Islamic University of Technology, Boardbazar, Bangladesh
A Paper Submitted in Partial Fulfilment of the Requirements for IBCOL 2023
Sustainable Development Goals
Keywords
Abstract
This whitepaper proposes a blockchain-based solution to electronic waste management, tracking, and supply chain provenance architecture to enable a circular economic system.
Circular economy enforces the reusing and recycling of materials that would have otherwise been disposed of in landfills. Wastes often go untracked and unregulated and in turn impact our environment and climate. However, ensuring a circular supply chain is challenging because of its broad spectrum of stakeholders and lack of trust among them. We put forward a decentralized solution to this problem by leveraging Blockchain Technology and Artificial Intelligence, EcoTrace
EcoTrace is a decentralized E-market platform where the ownership and status of electronic devices are tracked and stored throughout the supply chain. It connects the end users to recycling facilities and suppliers to reuse recycle, and remanufacture the devices and thus, empowering a circular supply chain.
In EcoTrace, value is added to electronic waste and can be traded to facilities/companies in return for economic value. Therefore, incentivizing citizens to partake in the circular economy. Besides, EcoTrace provides supply chain provenance where any stakeholder in the network can access permissioned data and determine the authenticity and materials of products. They can also sell used devices to companies so that they can reuse the materials, reducing the cost of manufacturing, and ensuring fair trade, and a Circular Economic Ecosystem.