| Title |
A blockchain non-fungible token-enabled 'passport' for construction waste material cross-jurisdictional trading |
| ID_Doc |
21051 |
| Authors |
Wu, L; Lu, WS; Peng, ZY; Webster, C |
| Title |
A blockchain non-fungible token-enabled 'passport' for construction waste material cross-jurisdictional trading |
| Year |
2023 |
| Published |
|
| Abstract |
The waste material passport (WMP) has been proposed for construction waste material (CWM) cross-border trading to reduce information asymmetry between parties. However, a major concern is that such WMPs are not issued by authorities that can guarantee authentication. This research aims to develop a blockchain non -fungible token (NFT)-enabled WMP. By using design science research, we develop a framework to (1) digitize CWM into NFT-enabled passports via tokenization; (2) prevent duplicated issuance of passports with unique NFT identifiers; (3) enhance information transparency via blockchain distributed ledgers; (4) improve trading effi-ciency via its decentralized consensus; and (5) secure transaction records via its cryptographic algorithms. The framework is prototyped and simulated in a case study. The prototype is found feasible with satisfactory per-formance. It can serve as a reference for future endeavors in harnessing the power of blockchain NFTs, partic-ularly for mobilizing blockchain NFT-enabled passports for various value-added applications in the circular economy. |
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