What does the future hold for a circular economy
The first order of business is to bridge the intention-action gap. The vast majority of us have the intention of living more sustainably, but what we action is another story altogether. Simply put, it refers to the difference between what people say they want to do compared to what they actually do. A great example of this is New Year resolutions. Every year we all make a list of what we plan to do for that particular year, but as the year marches on, we take a look back at that list and realise we have done barely any!
There are often a load of different barriers that can create this gap; from cost to inconvenience, the challenge is to find ways to help people overcome these barriers and decrease the gap between their intentions and actions. But the great news is that technology is there to break through those barriers!
You can read the finding from our latest report, download below:
Currently, however, the lack of consistent and precise information flow about resources, products, and processes in many cases makes it difficult to quantify circular initiatives. Digitalising product and process information to cover the entire product life cycle is a challenge that needs to be addressed to close the gap between the concept of circular economy and its practical implementation.
That eventuality sounds like a pipe dream, but great news…Thanks to wonderful companies like Banqu out there utilising blockchain technology to pull down the curtain and offer complete transparency on the products life-cycle, we are on our way to circularity.
The technology is there, now is the time for innovation.
We have so much power as individuals. Slight changes to your routine can make a world of difference. Use your voice and wallet to show politicians and brands what kind of legislation you want to see – and most importantly, get ready to get down with DPP!
This is a topic I could well and truly go on about for ages, which is lucky as we have our upcoming ‘Tech For Good Talks’ all about a Circular Economy. We have a fantastic panel lined up, make sure you sign up below and don’t miss out!