Blockchain-Based Sustainability Index Score for Consumable Products

Abstract

Efforts to combat environmental degradation and tackle climate change have gained significant global recognition. Many advocate that all consumable products should carry sustainability labels to inform consumers about their production methods, resources, and disposal practices. However, the lack of standardized sustainability labels and limited scope of certification bodies pose challenges. Additionally, reported sustainability metrics rely heavily on the transparency and openness of the reporting entities. Therefore, in this paper, we leverage decentralized blockchain technology to transparently document supply chain transactions and sustainability data, cultivating trust among stakeholders and consumers while promoting environmentally friendly practices that lead to a circular economy. Our proposed blockchain-based solution exploits the intrinsic features of the blockchain by building programmable logic of different tailored Key Performance Indicators (KPIs) using smart contracts. In our adaptable system design, KPI scores are used to calculate a product’s overall sustainability index score. Our implementation is integrated with the decentralized storage InterPlanetary File System (IPFS) to avoid the high cost of storage on the chain. We present a complete solution with algorithmic details and testing procedures as well as an evaluation of the proposed system accompanied by a cost and security analysis. All of our developed code for smart contracts has been made publicly available on GitHub.

Keywords

• Sustainability
• index score calculation
• transparency
• trust
• blockchain
• Ethereum