The Mass Balance Traceability powered by Blockchain:
Supporting a circular economy
in the chemical industry.
The global waste crisis and climate change are two of the world's most pressing issues, and the world urgently requires a materials revolution to address both.
To efficiently implement and promote circularity, organisations are starting to realise that sustainable material procurement and traceability are connected. Businesses cannot improve sustainability and establish a circular economy without traceability.
But how do businesses in the chemical industry go about doing this? By using a mass balance approach. Mass balance allows manufacturers to track what percentage of their product is sustainable.
While a mass balance approach is here to promote the use of recycled or renewable feedstock and facilitate accounting; integrating the technique in an immutable ledger such as blockchain would help answer the question “How do you prove that the materials you are sourcing are truly circular and certified sustainable?”
In this ebook you will find:
- How important is circularity in the chemical industry?
- Why is circularity difficult to achieve?
- What are the role and benefits of mass balance?
- Why end-to-end traceability is necessary when using a mass balance approach
- How can blockchain deliver the necessary levels of transparency and traceability to ensure reliable and efficient use of the mass-balance approach
Download this free ebook and learn how Finboot's technology can help you increase your transparency, traceability and data sharing.