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One example of a circular economy solution utilizing blockchain technology is the creation of a blockchain-based platform for tracking and tracing supply chains.
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This platform would enable transparency and accountability by recording every transaction and movement of goods, from raw materials to finished products, on a secure and immutable blockchain.
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This would facilitate the identification of inefficiencies, waste, and opportunities for recycling or reusing materials, thereby promoting a more sustainable and circular approach to production and consumption.
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Additionally, blockchain could enable the creation of tokenized incentives for participants who contribute to the circular economy, encouraging behaviors such as recycling, reusing, and sharing resources.
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