Definition: “A circular economy is a regenerative system in which resource input and waste, emission, and energy leakage are minimized by slowing, closing, and narrowing energy and material loops; this can be achieved through long-lasting design, maintenance, repair, reuse, remanufacturing, refurbishing, recycling, and upcycling. This is in contrast to a linear economy which is a 'take, make, dispose' model of production.” Source
The concept of circularity has deep roots in the ancient times, and it has influenced many schools of philosophy. The idea was reawakened in modern times by industrialized states after World War II, when the approach of PC based research of non-linear systems unquestionably uncovered the complex,interrelated and unusual nature of the world we live in – more similar to a metabolism than a machine. With ongoing developments, digital innovation has the ability to help the conversion to a circular economy by fundamentally expanding de-materialization, transparency, and feedback-driven intelligence.
Unlike the linear economy, circular economy seeks to respect the environmental boundaries by increasing the share of renewable and recyclable resources and meanwhile reducing raw materials and consumption whilst at the same time optimizing output in a shared economy. Emissions and loss of resources will therefore be reduced. The circular economy creates value while it eliminates waste and maximizes product use, ultimately upending traditional notions of competitiveness.
Why is the shift from the linear economy necessary?
Our world population is growing at a fast pace. This is affecting the conditions of our environment. So, to ensure a comfortable environmental existence for the generations to come and, most importantly, that there will be enough food,water and prosperity in 2050, we need to switch from a linear to a circular economy. The aim is to ensure healthy safe living and working conditions and cause less harm to the environment.
Transitioning to a circular economy does not just aim to diminish the negative effects of the linear economy. Rather, represents a fundamental shift in systems that build long-term resilience, creates business and financial opportunities, and gives environmental and societal advantages.
How is Core Token using the Circular Economy?
Incorporating digital technology is essentially required to accelerate the systemic shifts needed to create a circular economy. The Core Token platform is developed on sharing of knowledge and collaboration, enhanced use of assets and resources, optimized waste recovery systems so we can achieve economic,environmental and social development goals. Core Token platform has several projects, named use cases, using the latest database technology, blockchain, to execute processes. CoreToken is a service system which connects the current world to the fast emerging blockchain based world through means of tokenization. Everything in this world is tokenizable.
How does the Circular Economy fit into Core Token`s philosophy?
All Core Token use cases (Pyrolysis, Waste Sorting and Processing, EnergyProduction (out of waste), Crypto-Mining, Chrome-Mining,E-Commerce-Platform:Toktokey,Wallmoney, etc. are implemented under the philosophy that “we only have one planet therefore we all have the responsibility to use its resources wisely leaving the planet in a better condition as we found her.” To achieve that, Core Token deeply incorporated the principles of the circular economy, by creating its own ecosystem that aims to fundamentally change the way in which natural resources, raw materials and production and product use capacity, are valued and traded. The ecosystem incentives individuals and companies to unlock ﬁnancial value from things that are currently wasted, redundant or treated as economically invaluable.This game-changing business model aims to drive extensive behavior change and help to realize a true circular economy in combination with other advanced technologies of the Fourth Industrial Revolution, paving a way to tackle carbon emissions, climate change and other environmental challenges.