A Blockchain Technology-Based Marketplace to Speed Up Life Cycle Assessment Calculations

In recent decades, environmental challenges have become an increasingly global concern. The rapid advancement of technology and the growing demand for products and resources have fueled industrial growth but also exacerbated environmental issues. To identify key impact areas and enhance environmental performance, accurately quantifying the environmental footprint of various processes is essential. Life Cycle Assessment (LCA) is a widely recognized methodology for measuring and estimating these impacts. However, its application faces several challenges, including difficulties in collecting reliable supply chain data, inefficiencies in data distribution, privacy concerns that discourage companies from sharing information, and the absence of incentives for data sharing. This paper explores how a digital ecosystem, built around a multi-sided market, can facilitate the structured exchange of environmental life cycle data within a value chain. Specifically, it examines how blockchain technology can enhance transparency and efficiency in data tracking and sharing. Smart contracts can automate data validation and transaction execution, reducing the risk of fraud or manipulation while streamlining data transactions. Specifically, the study focuses on leveraging this technology to improve environmental impact data sharing through a purposebuilt marketplace designed to accelerate LCA calculations. The proposed framework is based on a decentralized platform that ensures secure data sharing and verification by utilizing a public infrastructure. The platform's architecture follows a modern three-tier design pattern, and the proposed infrastructure serves as a proof of concept.