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The green blockchains of circular economy

Hatzivasilis, G., Ioannidis, S., Fysarakis, K., Spanoudakis, G. ORCID: 0000-0002-0037-2600 and Papadakis, N. (2021). The green blockchains of circular economy. Electronics, 10(16), doi: 10.3390/electronics10162008

Abstract

Eco‐friendly systems are necessitated nowadays, as the global consumption is increasing. A data‐driven aspect is prominent, involving the Internet of Things (IoT) as the main enabler of a Circular Economy (CE). Henceforth, IoT equipment records the system’s functionality, with machine learning (ML) optimizing green computing operations. Entities exchange and reuse CE assets. Transparency is vital as the beneficiaries must track the assets’ history. This article proposes a framework where blockchaining administrates the cooperative vision of CE‐IoT. For the core operation, the blockchain ledger records the changes in the assets’ states via smart contracts that implement the CE business logic and are lightweight, complying with the IoT requirements. Moreover, a federated learning approach is proposed, where computationally intensive ML tasks are distributed via a second contract type. Thus, “green‐miners” devote their resources not only for making money, but also for optimizing operations of real‐systems, which results in actual resource savings.

Publication Type: Article
Additional Information: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited
Publisher Keywords: blockchain; federated learning; circular economy; green-miner; time-wise offloading; green computing
Subjects: Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Departments: School of Mathematics, Computer Science & Engineering > Computer Science
Project Input:
Project IDFunder NameFunder ID
No. 786890 (THREAT-ARREST)European Commission [Horizon 2020]http://dx.doi.org/10.13039/100010661
No. 952644 (FISHY)European Commission [Horizon 2020]http://dx.doi.org/10.13039/100010661
No. 830927 (CONCORDIA)European Commission [Horizon 2020]http://dx.doi.org/10.13039/100010661
Date available in CRO: 01 Oct 2021 15:19
Date deposited: 1 October 2021
Date of acceptance: 17 August 2021
Date of first online publication: 19 August 2021
URI: https://openaccess.city.ac.uk/id/eprint/26850
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