Blockchain-based circular economy for achieving environmental sustainability in the Indian electronic MSMEs
Management of Environmental Quality
ISSN: 1477-7835
Article publication date: 5 October 2022
Issue publication date: 17 May 2023
Abstract
Purpose
The circular economy is a production and consumption model that encourages people to share, lease, reuse, repair, refurbish and recycle existing materials and products for as long as possible. The blockchain-based circular economy is being used in many industries worldwide, but Indian electronic MSMEs face many problems in adopting a blockchain-based circular economy. The research aims to discover the barriers the electronic MSMEs face in adopting a blockchain-based circular economy and pull back from achieving environmental sustainability in their operations.
Design/methodology/approach
Fifteen barriers are identified from the literature review and finalized with experts' opinions. These barriers are evaluated by using interpretive structural modeling (ISM), MICMAC analysis and fuzzy TOPSIS method.
Findings
Lack of support from distribution channels, lack of traceability mechanism and customer attitudes toward purchasing remanufactured goods are identified as the most critical barriers.
Practical implications
The study will benchmark the electronic MSMEs in achieving environmental sustainability in the blockchain-based circular economy.
Originality/value
It is a study that not only establishes a hierarchical relationship among the barriers of blockchain adoption in Indian electronic MSMEs but also verifies the results with fuzzy TOPSIS method.
Keywords
Citation
Mukherjee, S., Nagariya, R., Baral, M.M., Patel, B.S., Chittipaka, V., Rao, K.S. and Rao, U.V.A. (2023), "Blockchain-based circular economy for achieving environmental sustainability in the Indian electronic MSMEs", Management of Environmental Quality, Vol. 34 No. 4, pp. 997-1017. https://doi.org/10.1108/MEQ-03-2022-0045
Publisher
:Emerald Publishing Limited
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