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Blockchain for the circular economy: Theorizing blockchain's role in the transition to a circular economy through an empirical investigation
Author(s) -
BöhmeckeSchwafert Moritz,
Wehinger Marie,
Teigland Robin
Publication year - 2022
Publication title -
business strategy and the environment
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.123
H-Index - 105
eISSN - 1099-0836
pISSN - 0964-4733
DOI - 10.1002/bse.3032
Subject(s) - circular economy , blockchain , panacea (medicine) , transition (genetics) , thematic analysis , sustainability , grounded theory , economy , empirical research , economic system , business , economics , sociology , computer science , qualitative research , social science , computer security , medicine , ecology , biochemistry , chemistry , philosophy , alternative medicine , epistemology , pathology , gene , biology
Blockchain is increasingly lauded as an enabler of the transition to a circular economy. While there is considerable conceptual research and some empirical studies on this phenomenon, scholars have yet to develop a theoretical model of blockchain's role in this transition. Grounded in the sustainability transition literature, this paper addresses this gap through the following research question: What role does blockchain play in the transition to a circular economy? Following an abductive approach, we conducted interviews with ground‐level experts implementing blockchain innovations for the circular economy across Europe and the United States. Through a thematic analysis, we derived a theoretical model of the relationships among (1) drivers and barriers of the transition to a circular economy, (2) blockchain innovation for the circular economy, (3) technical challenges of blockchain, and (4) the circular economy. While blockchain plays a moderating role, interviewees considered it only an infrastructural resource rather than a panacea.