Cigdem Z. Gurgur describes how a blockchain-based Internet of Things (IoT) can push market systems toward sustainability. Blockchain offers new opportunities relevant to systems design. It connects stakeholders with multiple sources of verified information, generates a richer informational landscape for executing business processes, and enables secure transactions between untrusted actors. Trusted networks can reduce transaction costs, simplify processes, and reduce resource intensity compared to traditional transaction technologies. Gurgur explores the conditions needed to facilitate blockchain deployment in the next generation of supply chains, specifically through IoT technologies that have attractive applications for creating, monitoring, and enforcing sustainability standards.
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