Circulogy: An AI-enabled blockchain based e-Waste management using fog computing to achieve net-zero and imply the circular economy
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Overconsumption of resources is a global issue. To deal with resource depletion and mitigate impending crises, the circular economy (CE) provides an ecosystem by reducing waste via reuse, repair, refurbishment, and recycling the existing materials and products. However, new performance measurements are needed for effective CE management with the increasing complexity of supply chains. We want to address this issue by performing a feasibility study with AI-enabled blockchain technology using fog-computing architecture for CE management to decrease transaction costs, enhance performance and communication along the supply chain, and reduce carbon footprints.
The project aims to build an e-waste management system that can respond to supply chain challenges using blockchain technologies. A supply chain can get complicated very quickly, considering each product component has its supply own chain. Blockchain provides a solution to this by establishing transparency in every node of the product's lifecycle. In brief, it is a decentralized list of records or data, known as a block, connected using encryption technology. There are multiple copies of the audit trail for every transaction using blockchain, which will provide the ability to track and reuse/recycle Waste Electric and Electronic Equipment (WEEE).
The proposed blockchain-based management solution is designed to be replicated in various sectors to establish transparency and can be easily scaled globally. This may decrease the cost of materials allowing companies to run more efficiently. The practice can also improve customer loyalty and provide additional industry benefits such as saving elements in smartphones that could run out in the next century:
* Gallium: Used in medical thermometers, LEDs, solar panels, and telescopes and has possible anti-cancer properties
* Indium: Used in transistors and microchips
* Yttrium: Used in white LED lights and camera lenses and can be used to treat some cancers
* Tantalum: Used in surgical implants, electrodes for neon lights, turbine blades, rocket nozzles and nose caps for supersonic aircraft, hearing aids and pacemakers
Therefore, we humbly believe that our solution will be a disruption compared to the conventional ways of how we manage our e-wastes.
Trackgenesis Limited | LEAD_ORG |
Trackgenesis Limited | PARTICIPANT_ORG |
Subjects by relevance
- Supply chains
- Blockchains
- Recycling
- Logistics
- Circular economy
- Waste electronic and electrical equipment
- Materials economy
Extracted key phrases
- Waste management system
- Blockchain technology
- Circulogy
- Effective CE management
- Supply chain challenge
- Management solution
- Circular economy
- Fog computing
- Encryption technology
- Resource depletion
- New performance measurement
- Global issue
- Transaction cost
- Recycle Waste Electric
- White LED light