Purpose This paper aims to contribute to the debate about the value of blockchain for supply chain management by assessing empirical evidence on the relationship between blockchain and supply chain performance. Design/methodology/approach The authors conducted a structured review of the academic literature to identify and assess papers providing empirical insight on operational blockchain applications. The authors complement the findings from this review with primary empirical data from 11 interviews with blockchain providers, users and experts involved in four recent projects. Findings The paper presents an integrated research framework that illustrates the impact of blockchain on supply chain performance. The findings highlight that blockchain can affect supply chain performance directly â via one of its core technological features â and indirectly via the broader business project through which blockchain technology is implemented. Practical implications Insights from this paper should provide managers with a more nuanced understanding of how blockchain technology can be leveraged to address important supply chain management challenges. Originality/value Prior research addressing the relationship between blockchain and supply chain performance mostly discusses potential performance effects of blockchain, presents individual blockchain applications and/or provides little explanation for how the core technological features of blockchain affect supply chain performance. This paper systematically assesses the ways in which blockchain can affect supply chain performance. In doing so, it goes beyond the initial hype around blockchain technology while countering some of the more recent critiques.
Within the past years, enterprise blockchain solutions were frequently developed within different industry consortia. In most cases, this resulted in isolated solutions competing against each other due to similar approaches and goals. Today, decision makers do not necessarily need to establish entirely new blockchain consortia, as established ones already exist, and participation is a considerable way to avoid unreasonable efforts. In this paper, we apply an iterative literature review to identify different factors relevant for practitioners, who face the challenge of joining an existing enterprise blockchain consortium. In a second step, we discuss these factors utilizing supply chain management as a role model. As a main finding, we propose an evaluation framework for the purpose of enterprise blockchain consortium analysis. Additionally, we provide several questions relevant for practitioners during their evaluation stages. With our evaluation framework we contribute to blockchain research, where - despite its high relevance - the topic of consortium evaluation has so far been neglected. We also contribute to research in the field of technology evaluation by proposing and merging five different evaluation dimensions.
Sheet metal part manufacture is a precursor to various upstream assembly processes, including the manufacturing of mechanical and body parts of railcars, automobiles, ships, etc., in the transport manufacturing sector. The (re)manufacturing of railcars comprises a multi-tier manufacturing supply chain, mainly supported by local small and medium enterprises (SMEs), where siloed information leads to information disintegration between supplier and manufacturer. Technology spillovers in information technology (IT) and operational technology (OT) are disrupting traditional supply chains, leading to a sustainable digital economy, driven by new innovations and business models in manufacturing. This paper presents application of industrial DevOps by merging industry 4.0 technologies for collaborative and sustainable supply chains. A blockchain-based information system (IS) and a cloud manufacturing (CM) process system were integrated, for a supply chain management (SCM) system for the railcar manufacturer. A systems thinking methodology was used to identify the multi-hierarchical system, and a domain-driven design approach (DDD) was applied to develop the event-driven microservice architecture (MSA). The result is a blockchain-based cloud manufacturing as a service (BCMaaS) SCM system for outsourcing part production for boxed sheet metal parts. In conclusion, the BCMaaS system performs part provenance, traceability, and analytics in real time for improved quality control, inventory management, and audit reliability.
Aamir Rashid, Syed Baber Ali, Rizwana Rasheed, Noor Aina Amirah · 5 authors
Purpose This paper aims to find the impact of blockchain supply chain on supply chain performance with a mediating role of supplier trust, traceability and transparency. Design/methodology/approach Data was collected using the purposive sampling technique on a five-point Likert scale from 150 respondents. For data analysis, IBM SPSS and Smart PLS 3.3.7 were used to test the hypotheses by evaluating the structural equation modeling. Findings The blockchain supply chain found a significant effect on supply chain performance. Moreover, there is a substantial effect of the blockchain supply chain on supply chain performance via mediators, including supplier trust, supply chain traceability and supply chain transparency. Further, the mediation type of all mediators was full mediation in the relationships between blockchain supply chain and supply chain performance. Research limitations/implications The research findings are helpful for industrialists, supply chain practitioners and policymakers. The practitioners can adopt blockchain technology to enhance inter-organizational collaboration, develop trust, data visibility and traceability, and critical decisions, ultimately bringing sustainable growth for the firm. Originality/value The outcomes of this research enrich the literature and share the impact of one of the most trending technologies in the supply chain perspective. Future research can empirically test the relationship between blockchain and supply chain sustainability.
Global competition encourages all industries to attain cutting-edge performance by continuously developing their goods and processes; knowledge is the most effective and powerful weapon for long-term sustainability and growth. Effective blockchain adoption (BCA) and better supply chain visibility (SCV) via organizational and production knowledge management (KM) have emerged as the most powerful instruments for improving sustainable organizational performance (SOP). Therefore, drawing on the resource-based view and technology acceptance model, this study seeks to underline the empirical relationships among KM, BCA, SCV, and SOP in a developing country context of Chinese manufacturing, as research in this sector is still nascent encompassing these constructs. Data were collected from 289 respondents (senior, middle, and junior) level staff members from manufacturing industries and analyzed by a novel approach; partial least square structural equation modeling (PLS-SEM). The empirical analyses indicated that KM significantly impacts BCA. BCA also positively affects SCV. Besides BCA, the KM also positively impacts SOP. The mediation effect analysis revealed the significant serial mediating impact of BCA and SCV on the relationship of KM to SOP. This study enriches the inadequate literature and throws light on BCA from an organizational resource perspective. The study deepens our understanding and delivers valued insights to the managers and policymakers of manufacturing industries concerning the role of KM, BCA, and SCV in achieving SOP.
The textile sector accounts for the fourth-highest usage of primary raw materials and water (after food, housing, and transport), the second-highest usage of land, and the fifth highest Green House Gases (GHG) emissions (EEA, 2017). While Life Cycle Assessment (LCA) has been widely used to assess the environmental impact of fashion, most studies are constrained by the lack of reliable data. Blockchain technology may enable better traceability by making origin and journey more transparent. The potential to integrate LCA and blockchain has been discussed in other sectors, but specific protocols in the fashion sector are largely missing. This study aims to address this by a) exploring the use of LCA to measure the impact reduction potential of circular strategies and b) proposing a protocol for the integration of LCA and BC to accurately assess circular practices. Using leather handbags as a case study, an LCA study is conducted comparing two circular scenarios against a baseline to quantify potential benefits from circular strategies. Subsequently, it builds a blockchain-based LCA framework to unleash circularity opportunities through enhanced traceability and data sharing. Results point to substantial environmental benefits from the circular strategies, for example, circular scenario 2 (reuse markets/second-hand leather bag) was estimated to cause between 34.8% and 53.8% lower impacts while circular scenario 1 (leather alternative) contributed to impact reduction of more than 35% of the impacts in most impact categories (10 out of 18). The results also highlight the contribution of blockchain technology to enable traceability and reliable data for identification of environmental hotspots and accurate quantification of circular potential.
Adopting a circular economy (CE) has rapidly emerged among policymakers and business community stakeholders to promote material circularization and ensure sustainable development. While the inclination for a paradigm shift away from the linear economy is evident, many challenges have been quoted in the literature regarding its implementation. Lately, it has become common to propose Information and Communication Technologies (ICT)-based approaches to address these challenges. However, they do not question the practicality of the solutions in the context of CE. This paper aims to find an appropriate digital solution for CE implementation, which is not possible without a complete understanding of the existing challenges. A thorough literature review broadly classified the challenges under five barrier categories: Technological, Financial, Infrastructural, Institutional, and Societal, which was followed up with an investigation into the failure of ICT solutions to address CE challenges. Among the various technologies, blockchain and smart contract technologies show some promise as data-driven decision-making tools; however, they are not without their limitations when applied in the context of CE. This perspective explores the role of blockchain smart contract technology-scape in overcoming CE challenges and presents a circular economy blockchain (CEB) architecture development. The findings suggest that CEB may enable CE business models that improve trust and transparency in supply-chain networks, shared and performance economy platforms, stakeholder participation, and governance and management of organizations. Ultimately, this study highlights critical areas for research and development for the blockchainification of CE.
Algan Tezel, Dimosthenis Kifokeris, Carlos Torres Formoso, Lauri Koskela · 5 authors
Blockchain is a distributed ledger technology referring to decentralized databases existing across multiple locations and participants, in which the need for intermediaries to process, validate or authenticate transactions is reduced or eliminated. Such transactions are synchronously held by computer nodes in distributed copies, with cryptographic signatures validated through consensus protocols and transparency achieved through peer-to-peer transactional access among the nodes. Blockchain-based applications can be preferred over centralized databases on the basis of high levels of trust, data security, immutability, transparency, and multi-user consensus protocols. There is growing interest in blockchain in the built environment, with a focus on procurement, the management of supply chain project-life cycle, smart cities, intelligent systems, sustainability, and decentralized organizations. However, there is little discussion on whether and how blockchain will affect the advances in lean construction (LC) and vice versa. This paper therefore proposes a framework that establishes interactions between blockchain and lean construction, which can potentially facilitate the implementation of both. It is based on a synthetic literature review. The results indicate that blockchain can facilitate the implementation of LC (e.g., recording and retrieving of Last Planner data), and vice versa (e.g., value stream mapping guiding the integration of blockchain with processes).
Currently, the emerging countries like Morocco seeks to benefit from the potential of blockchain technology to meet its various growing demands, especially in sustainable supply chain management (SSCM). This explains the need for more effort to understand blockchain implementation and identify the barriers influencing the blockchain adoption decision in SSCM, especially, from Moroccan industry and service sectors perspective. In this context, this research paper proposes a group decision-making approach to identify the barriers from a comprehensive literature search, then evaluate them based on intuitionistic fuzzy analytic hierarchy process (IFAHP). Due to the varied importance of the selected barriers, IFAHP is utilized to allocate priority weights for each barrier according to its importance level. The evaluation results reveal that âGovernment policy and supportâ and âChallenges in integrating sustainable practices and blockchain technology through sustainable supply chain management (SCM)â are the best ranked barriers that impact the implementation of blockchain technology in Moroccan context. The main objective is to inquire the barriers preventing the blockchain implementation, and assist industry decision-makers in developing supple short- and long-term decision-making strategies for better sustainable supply chain management.
Abstract Small and medium enterprises (SMEs) in India are suffering from the long-standing challenges related to asymmetric information, high transaction costs, SMEsâ opacity and limited access to credit. Blockchain technology, which is still in its infancy in terms of adoption in India, can facilitate SMEs to counter these challenges. Fuelled by this motivation, the study aims to investigate the significant barriers to blockchain adoption in supply chain finance practices by Indian SMEs. Using fuzzy-analytic hierarchy process, sensitivity analysis, and fuzzy-decision-making trial and evaluation laboratory this paper identifies the blockchain barriers, prioritises them and examine their cause and effect relationships. The results of the study indicate that technology barriers are the most influential barriers that impede blockchain adoption. The findings will help the policymakers and practitioners to take suitable measures to overcome these barriers and fuel the adoption of blockchain in Indian SMEs.
Pedro Reyes, Michael Gravier, Patrick Jaska, John K. Visich
The purpose of this article is to investigate the impact of blockchain on global supply chain operational and managerial processes. This article reviews and classifies the existing empirical evidence of blockchain applications in the global suppbly chain. We utilize the Mooneyet al.framework to organize this evidence into operational and managerial business value processes and the effectsâautomational, informational, and transformational. Our findings indicate that blockchain is not following the Mooneyet al.stage model proposed in 1996 since the empirical evidence is evenly spread between the three effect categories. In addition, we have identified possible reasons why blockchain is not following the Mooneyet al.stage model. Our study concludes with nine propositions as a guide on how to facilitate blockchain deployment and future research. Limitations of this article concerning blockchain are the lack of consistency and understanding of standards and the lack of information on blockchain implementation, which is referred to as theâgrey space.âBlockchain today is where radio-frequency identification (RFID) was in 2002 and the bar code was in 1980. Therefore, future research work could be expanded to investigate case studies of blockchain implementations as they become available across the global supply chain. For practitioners, the empirical evidence presented in this article can help identify applications and implementation steps for building the business case where blockchain can have a greater impact on the organization. This article fills a void in the literature by providing practitioners and academics with a better understanding of blockchain and its applications for implementation.
The paper analyzed the function of Blockchain Technology (BT) in the Circular Economy (CE) to improve the performance of Small and Medium-sized Enterprises (SMEs). It presents a Sustainable Circular Business (SCB) model that utilizes BT to improve the performance of SMEs. A closed-ended questionnaire survey was conducted to gather cross-sectional data from 275 SMEs. A total of 400 questionnaires were issued, of which 285 were received. The CE method in Circular Supply Chain Management (CSCM) provides both ecological and economic advantages to organizations. The advent of the Industry 4.0 era has brought about a strong focus on technology across all industries. The emergence of BT, a relatively new phenomena, has significant potential for enhancing the processes of SMEs. The findings indicate that BT favors the CE due to its characteristics like exposure, accountability, relationship management, and smart contracting. Also, it has been discovered that adopting environmentally friendly methods had a beneficial connection with both the environmental and economic aspects of SMEs performance. Additionally, it was also seen that the ecological sustainability of the business had a favorable relationship with its economic well-being. Finally, it was discovered that both sustainability and economic capabilities were responsible for enhancing the performance of SMEs.
Davide Calandra, Silvana Secinaro, Maurizio Massaro, Francesca Dal Mas · 5 authors
Abstract The paper investigates the relationship between Blockchain technology and new sustainable business models (SBMs). The literature notes a lack of empirical classifications and successful case studies. Using a multiple case studies methodology, our research article aims to answer the research question (RQ): How can Blockchain enable new SBMs and support the United Nations Sustainable Development Goals (SDGs)? We present 20 business stories extracted from a combined analysis of the databases coinmarketcap.com and icobench.com, demonstrating how Blockchain can be used for environmental management. Notably, our analysis finds out four broad research clusters related to (i) smart energy management, (ii) climate change, (iii) waste management, and (iv) sustainable production. Mainly, an actual application of Blockchain toward SBMs is related to supply chain cost reduction. Finally, the research includes investments and their social scalability with Blockchain. Then, the final research cluster discovers social and proof sustainability. This study adds to the empirical literature evidence of SBMs offering a connection with the SDGs.
Tianjian Yang, LI Chun-mei, Xiongping Yue, Beibei Zhang
Enterprises in low-carbon supply chains have been exploring blockchain technology in order to make carbon data transparent. However, there is still some opaque information in the market, such as the value-added service efficiency. How do supply chain members make decisions between information sharing and blockchain adoption? This study considers blockchain adoption and information sharing in a low-carbon supply chain with a single manufacturer and a single retailer. The retailer has private information about value-added services and decides how to share it with the manufacturer. We examine six combined strategies comprised of blockchain scenarios and information sharing formats (no sharing, voluntary sharing, and mandatory sharing). The results indicate that supply chain members prefer blockchain technology under no sharing and voluntary sharing. Under mandatory sharing, supply chain members have incentives to participate in blockchain when the value-added service efficiency exceeds a threshold value. While the manufacturer prefers to obtain the value-added service information, the retailer decides to share information depending on the value-added service efficiency. Besides, supply chain membersâ attitude toward the sharing contract also depends on the value-added service efficiency.
Food systems are both contributing to and affected by environmental degradation and climate change. The transition towards resilient and sustainable food systems is essential to ensure food security and minimise negative environmental impacts. Innovative technologies can accelerate this transition. Blockchain technology (BCT) is attracting attention as it can deliver transparency to complex global food supply chains and has the potential to guide current food production towards better sustainability and efficiency. This case study investigated the opportunities that BCT can offer to food supply chains. Qualitative interviews with eight main BCT providers were conducted to evaluate the current state of BCT and put it into perspective by mapping out advantages, disadvantages, incentives, motives, and expectations connected to its implementation in global food systems. A thematic analysis showed that, while BCT was considered beneficial by all interviewees, uptake is slow due to high implementation costs and the lack of incentives for companies throughout the food chain from farms to food industry and retail. Results further revealed that the advantages of BCT go beyond communication of trustworthy information and development of closer producerâconsumer relationships. In fact, it can provide the opportunity to decrease food waste, enhance working conditions throughout the supply chain, and promote sustainable consumption habits. As BCT may be increasingly used in the food supply chain, the results give a basis for future research that may leverage both qualitative and quantitative methods to examine actorsâ behaviours. Also, the importance of improving user experiences through functional applications and software to facilitate the adoption of the technology is stressed.
Hana Trollman, Guillermo GarciaâGarcia, Sandeep Jagtap, Frank Trollman
Background: This research aims to identify how blockchain technology could support the ecological embeddedness of the coffee supply chain. Ecological embeddedness is a subset of the circular economy (CE) that demands legitimacy through design changes to product, production and/or packaging for benefits to economic actors and the environment. This is in contrast with legitimacy as a public relations exercise. Blockchain is a digital transformation technology that is not fully conceptualized with respect to supply chain implementation and the related strategy formulation, particularly in the context of sustainability. Furthermore, the integration of consumers into the CE remains not well understood or researched, with the main focus of CE being the cycling of resources. Methods: This research employs a qualitative case study methodology of the first coffee business in the USA to use blockchain technology as an exemplar. Gap analysis is then applied to identify how blockchain could be used to advance from the current state to a more sustainable one. Results: Findings indicate that the implementation of blockchain is not ecologically embedded in the example studied. Conclusions: The extension of blockchain technology to consider the by-products of production and valorizable waste throughout the supply chain as assets would support ecologically embedded CE for coffee.
LuĂs Alves, Estrela Ferreira Cruz, AntĂłnio Miguel Rosado da Cruz
In the current days, the Textile & Clothing industry sector is one of the largest and one with the greatest environmental impact, not only due to the consumption of water and the use of toxic chemicals, but also due to the increasing levels of textile waste. In addition, this industry often resorts to countries with cheap labor where workersâ rights are typically not met. The solution may involve the final consumer who, while purchasing these products, supports the entire value chain. If the final consumer chooses to buy products that are more socially and environmentally sustainable, it inspires the industry to follow this trend. For this, the final consumer must know the social and environmental indicators of the entire value chain and must trust on the information received. In this paper, Design Science Research is being used to build a system architecture capable of tracing these environmental and social indicators using decentralized and distributed technologies, like blockchain and smart contracts, to build Decentralized Applications (DApp).
Naoum Tsolakis, Roman Schumacher, Manoj Dora, Mukesh Kumar
Digitalisation is expected to transform end-to-end supply chain operations by leveraging the technical capabilities of advanced technology applications. Notwithstanding the operations-wise merits associated with the implementation of digital technologies, individually, their combined effect has been overlooked owing to limited real-world evidence. In this regard, this research explores the joint implementation of Artificial Intelligence (AI) and Blockchain Technology (BCT) in supply chains for extending operations performance boundaries and fostering sustainable development and data monetisation. Specifically, this study empirically studied the tuna fish supply chain in Thailand to identify respective end-to-end operations, observe material and data-handling processes, and envision the implementation of AI and BCT. Therefore, we first mapped the business processes and the system-level interactions to understand the governing material, data, and information flows that could be facilitated through the combined implementation of AI and BCT in the respective supply chain. The mapping results illustrate the central role of AI and BCT in digital supply chains' management, while the associated sustainability and data monetisation impact depends on the parameters and objectives set by the involved system stakeholders. Afterwards, we proposed a unified framework that captures the key data elements that need to be digitally handled in AI and BCT enabled food supply chains for driving value delivery. Overall, the empirically-driven modelling approach is anticipated to support academics and practitioners' decision-making in studying and introducing digital interventions toward sustainability and data monetisation.
As the global market develops along with technological advances, especially the opening of markets in developing and underdeveloped countries, the logistics industry is considered by managers to be a useful tool to link different functions of corporate strategy. Logistics is the process of planning, implementing and controlling the movement of goods or information that are related to raw materials (inputs) and final products (outputs) from the point of origin to the point of consumption in order to meet customer requirements. The logistics industry brings about many positive effects, not only for the national economy but also for creating equal business opportunities for businesses of all economic sectors. However, large companies in the logistics industry still depend on EDI or APIS to exchange secure authentication data, which increase the security of operations within the industry, but this is the cause of a lot of confusion with serious consequences on the supply chain when it is too dependent on these systems. To minimize the risks and optimize the problems mentioned above, blockchain technology could help the logistics industry to operate optimally. In an era when everything is digitized, from personal information to financial transactions, choosing a system with high reliability and security becomes extremely important. Currently, there are many blockchain development services providers and it is essential to choose the investment in this technology that suits the characteristics and purposes of the logistics organization in question. This study aimed to propose a two-stage fuzzy multicriteria decision-making model for the assessment of blockchain development services providers for logistics organizations. The hybrid MCDM model was evaluated through a real-world case study at a logistics organization. The contribution of this work is the provision of useful guidelines for the evaluation and selection of blockchain technology services providers for logistics companies.
Purpose This paper aims to analyze the benefits of the blockchain to the circular economy (CE), which is composed of both closed-loop supply chain (CLSC) systems and reverse omnichannel solutions. By ensuring transparency, traceability, visibility and security, the blockchain allows firms to acquire operational capabilities through a CLSC and service capabilities through a reverse omnichannel, which can boost business performance considerably. The related network of relationships can be reinforced by establishing incentives, which entail both smart contracts in the blockchain and active return approaches in CE. Design/methodology/approach After identifying the boundaries of the theoretical framework, several research hypotheses are developed according to the literature review and emerging gaps. These gaps link to the impact of the blockchain on CE systems (CLSC and reverse omnichannel), as well as the influence on business performance. The hypotheses are then tested using structural equation modeling and adopting a partial least squares-path modeling technique on a dataset composed of 157 firms. Finally, multigroup analysis is used to test the impact of incentives on the research hypotheses. Findings The blockchain facilitates a more efficient CE system, although reverse omnichannel solutions seldom bring any benefits to performance. The shift from a passive to an active return approach must be carefully evaluated. The CLSC network can benefit from an active return approach by developing appealing incentives for collectors and enhancing the positive effects of the blockchain. In contrast, consumer incentives can have detrimental effects on the blockchain. Various combinations of incentives can only bring a few business performance increases, while collector incentives are vital to reinforce the CE system's operational and service capabilities. Originality/value This paper takes a new approach toward the study of CE, which considers a dual circular system composed of a CLSC and a reverse omnichannel. The research explores whether the adoption of blockchain technology enables better return processes by improving the operations in CLSC and services in reverse omnichannel. Finally, this is the first empirical work to evaluate the benefits emerging from incentives, which can activate smart contracts in the blockchain and enable active return approaches in CE.
There are hypes towards blockchain-based traceability systems (BCTS) both from academia and industry. This paper discusses challenges and policy recommendations for BCTS from a viewpoint of industrial application and market competition. First, the potentials of BCTS and the gaps between the ideal and the reality of BCTS are elaborated. Second, we discuss the applicability of BCTS. Third, by a game-theoretic model, we study when supply chains should invest in BCTS. Investment is recommended when investment cost is relatively low compared to the price and market competition is less intense. A prisoner's dilemma arises when investment cost is at a moderate level.
Abstract Supply chains around the globe are faced with difficulties and disruptions due to the worldwide pandemic situation and digital solutions are needed. There is significant research interest in the implementation of blockchain technology (BCT) for supply chain management (SCM). A challenge that remains is analyzing the interactions of BCT in different areas of SCM. This study aims to identify the influential dimensions of the impact of BCT adoption in SCM and to discuss the synergetic and counter-synergetic effects between these dimensions. Advantages, disadvantages, and constraints of adopting BCT in the SCM context are explored through a systematic literature review, which provides the foundation for identifying the dimensions of impact. The interactions between these dimensions are conceptually discussed. This study introduces three dimensions of the impact of implementing BCT in SCM: âoperations and processesâ, âsupply chain relationshipsâ, and âinnovation and data accessâ. These dimensions are interrelated and have overlapping areas within them, which leads to synergetic and counter-synergetic effects. The overlaps and synergies of the three dimensions of impact are illustrated, and the virtuous and vicious cycles of BCT adoption in SCM cases are highlighted. This study assists scholars and practitioners by clarifying the synergetic relationships within the dimensions of the impact of BCT in SCM and by providing considerations to prevent undesirable effects and expand desired ones.
Amin Shokri, Ali Shokri, Dean White, Richard Gelski · 7 authors
The capacity of the greenhouse gas recycling mechanism in nature has long reached its limit, resulting in a sharply increasing trend in the marginal cost of recycling one unit of human-produced carbon and other greenhouse gas emissions. Externalities associated with the marginal cost of greenhouse gas emissions affect health, climate, and the economy, which have urged global authorities and governments to request urgent actions to slow down the production of such pollutants. Nonetheless, without public awareness and a holistic mechanism to monetise the impact of pollutants, a universal strategy to reduce greenhouse gas emissions is condemned to failure. This paper presents an overview of emerging technologies that can come together to offer an innovative solution for monetising, incentivising and realising the reduction of greenhouse gas emissions. Through a brief review of the literature, an innovative ecosystem is proposed for the first time, accounting for a unified platform for carbon verification, validation and monetisation, which can be adopted as a business model to validate and monetise the amount of incentivising businesses and people for carbon saving on a decentralised blockchain platform.