Green Supply Chain Circular Economy Evaluation System Based on Industrial Internet of Things and Blockchain Technology under ESG Concept

Abstract

A green supply chain economy considering environmental, social, and governance (ESG) factors improves the chances of functional growth through minimal risk factors. The implication of sophisticated technologies such as the Industrial Internet of Things (IIoT) and the blockchain improves the optimization and evaluation of ESG performance. An IIoT-Blockchain-based Supply Chain Economy Evaluation (IB-SCEE) model is introduced to identify and reduce functional growth risk factors. The proposed model uses green blockchain technology to identify distinct transactions’ economic demands and supply distribution. The flaws and demands in the circular economy process are validated using the IIoT forecast systems relying on ESG convenience. The minimal and maximum risks are identified based on economic and distribution outcomes. The present investigation highlights the significance of ongoing ESG-conceptualized research into blockchain-based supply chain economics. Companies who recognize the blockchain’s potential can improve corporate governance, environmental impact, and social good by increasing transparency, traceability, and accountability. A more sustainable and responsible future for global supply chains can be shaped through further research and development in this field, which will make a substantial contribution to the scientific world. This information is individually held in the green blockchain for individual risk factor analysis. The proposed model improves the recommendation and evaluation rate and reduces the risk factors with controlled evaluation time.