FaCE
Project: Facilitating the circular economy through distributed ledger technologies
Collaborating Departments: Centre for Environmental Policy (Imperial); TUM Campus Straubing (TUM)
Traditional circular economy research has focussed, to a large extent, on new materials to underpin circularity, or methods to promote efficient material flows. Important, but often overlooked, is the aspect of behavioural change. Service based models, in which goods are never owned by consumers, have the potential to transform society for the good of everyone. In this context, distributed ledger technologies (DLTs) such as blockchain have received increasing attention as a potential catalyst for the transition to sustainability. DLTs can facilitate new business models and a new era of transparency, generating economies of trust, thereby potentially transforming prevailing economic and institutional systems. The project will focus on the role DLTs can play in facilitating this transformation, especially regarding the aspects of transparency in the value cycles and new circular business models around servitisation and the sharing economy. New research tools will be developed to analyse and assess interventions, especially policy measures and digital technologies regarding their multi-dimensional performances from a full life cycle thinking perspective. A system dynamics (SD) model will be developed to help understand how servitisation and access systems, from the micro to macro level of intervention to consumer behaviours, react to the deployment of these technologies in the shift towards circularity, and further investigate the role of DLTs in the process. A multi-scale life cycle sustainability assessment framework to assess the impacts of DLTs, transparency and servitisation will be developed and coupled to the SD model, yielding a new consequential multi-scale life cycle sustainability assessment tool that can support policy development and be used to both guiding and evaluating interventions enabled by DLTs.
Team
Principal Investigator (Imperial)
Prof. Dr. Nick Voulvoulis
Professor of Enviromental Technology - | Imperial
Principal Investigator (TUM)
Prof. Dr. Magnus Fröhling
Professor for Circular Economy
Doctoral Candidate (Imperial)
Felix Wieberneit