Zhida: Blockchain Potential in Household Waste Recycling
In 2020, the chief executive officer of Zhida Environmental Technology, a waste management company based in Nanjing, China, was considering adopting blockchain technology into the company's work process. With the concept of Internet plus recycling, the company was committed to waste sorting and had introduced innovative household waste solutions. However, new challenges were emerging, including stagnant resident participation rates, low profit returns, competitor expansion, and limited support from the local government. Inherent blockchain technology functions such as digital token services, a transparent recycling chain, and collaborative governance mechanisms could potentially improve the company's current operations and provide a first mover position in the market. However, the chief executive officer had to thoroughly consider the decision of adopting blockchain technology: What true value could it offer and what potential challenges could arise? Yu Gong is affiliated with University of Southampton. Shenghao Xie is affiliated with University of Southampton. Steve Brown is affiliated with University of Southampton. Changjun Li is affiliated with Fudan University. Jiang Duan is affiliated with Southwestern University of Finance and Economics.