A blockchain-based circular economy taxonomy model for secure & efficient toxic materials supply chain: A technology-based intervention and case study approach

Globalization makes the supply chain for toxic materials (TOM’s) complex and extensive, affecting their reliability and potentially causing disruptions across various operations. The toxic materials supply chain is a delicate industrial operation that requires significant attention. Integrating the circular economy and blockchain technology into the supply chain provides a substantial solution to this issue, as previous literature lacks a secure and efficient digital system. To achieve this, the state-of-the-art Technology-Based Intervention (TBI) was a cutting-edge methodology that often incorporated the latest technologies and tools, enabling more innovative research validation and efficient problem-solving. This study initially explored the hidden potential of blockchain and the detailed process of the circular supply chain, aiming to provide deep insights. Later, a blockchain-based circular-economy taxonomy model was proposed to enable a secure and efficient toxic-materials supply chain. This model comprises a blockchain design layout, with its key features implemented in the toxic materials circular supply chain (CSC) processes, aiming to achieve a secure and efficient supply chain by addressing key performance indicators (KPIs). Moreover, this paper examines YongTaiyun (永泰运) Chemical Logistics Co., Ltd. as a real-world case study to explore how conventional chemical logistics companies are transforming and upgrading in the digital era by integrating blockchain technology. This approach enables rigorous analysis of complex real-world phenomena, particularly the nexus of technology and industry practices. The results illustrate that blockchain mitigates toxic materials supply chain risks through digital automation and promotes zero waste by reusing, recycling, reprocessing, and remanufacturing used products. It enables governance agencies, traffic controllers, and transportation management to develop standards and policies to eliminate risks related to toxic chemicals, especially nuclear reactors, radiation leakage, irregularities, and illegal access, while providing secure and efficient documentation, handling, storage, and transportation systems. This research provides a comprehensive understanding and roadmap for academic scholars and researchers, aiming to help industrial practitioners, policymakers, and authorised agencies implement blockchain technology and develop informed rules on secure and efficient practices.