Experts Share How Blockchain Supports Circular Economy – Newsroom

Two leaders who support the circular economy in their work shared what we can do to make the world more sustainable at the BDW Speaker Series: Tech for Good on November 1, 2022 at the Opus College of Business in McNeely Hall.

“We take things out of the ground … we make products out of them,” said Dr. Jon Smieja ’05, VP of circularity and senior analyst at GreenBiz Group. “Some people use these products between 10 seconds and 100 years. They are then largely disposed of through landfill, incineration, some form of downcycling, or escaping into the atmosphere or environment.”

Smeija took the audience through his professional journey and how he went from graduating in chemistry from the University of St. Thomas to becoming VP of circularity and senior analyst at GreenBiz Group. He explained what he has learned from his experience in the field, that society is currently moving towards a circular economy and explained the importance of it. Then he broke down three things that are overhyped, three things that cause confusion, and three areas to watch.

“Jon did a fantastic job of simplifying a complex topic that affects everyone, recognizing the serious impact of the linear economy and guiding attendees to the goals of a circular economy,” said Business in a Digital World Executive Director Kristina Schatz. “He shared that the world is about 8.6% circular and that in order to continue living on the planet, that number needs to go up. He beautifully explained how we can get closer to a circular model by eliminating waste and pollution, recycling products and materials and regenerate nature.”

Dr. Phil Brown, VP of Business Development and Strategy at Circularise, who holds a PhD in circular-oriented collaboration, joined the event via Zoom from his office in the Netherlands. Brown dove deeper into the topic, using Circularise as a personal case study of how to use technology, particularly blockchain technology, to positively impact the circular economy.

The mission of Brown’s Curcularise team is to bring traceability to global supply chains, and they are doing this on a public blockchain. What is important here is that many companies make sustainability claims, but can consumers trust these claims alone?

Brown’s concern is that statements about sustainable packaging are overhyped.

“If we consistently overhype them and don’t actually provide evidence, we could lose the goodwill, ability and desire to buy sustainable products if we can’t support these [claims] up,” he said.

“Brown brought the audience into his complex innovative world in such an inviting and inclusive way,” said Business in a Digital World Innovation Coordinator Calli McCartan. “He broke down industry titles and acronyms while providing expert detail on how Circularise uses their products to increase traceability in supply chains and how they navigate the ever-changing world of governance around both sustainability and emerging technologies in the EU.”

After both Smeija and Brown took the floor, they took the opportunity to answer questions from the audience. During the Zoom chat, many people asked to reach out to the speakers on LinkedIn to keep the conversation going and thanked them for the impactful and engaging event. It was clear that those in the room (or virtual room) for this event were dedicated to this topic and learning more.

“Sustainability is at the heart of the mission here at St Thomas,” said Rachel Schauer, program manager for the Office of Sustainability Initiatives.

Schatz and Schauer took a moment to emphasize the importance of sustainability at the University of St. Thomas and encourage attention and active support for the circular economy in their lives and work going forward.

As the physical student attendees grabbed flyers for the new minor in sustainability on their way out the door, it was clear that everyone in attendance was intrigued. The circular economy and the use of blockchain technology to advance it may be a growing topic, but the impact felt by those who attended this event is sure to inspire the next generation of digitally fluent St. Thomas changemakers to enter the workplace equipped to make the world more sustainable for the common good.

The event was sponsored by Engineers for a Sustainable World and Business Law and Compliance clubs.

Business in a digital world:

The Office for Sustainability:

Melrose and The Toro Company Center for Principled Leadership: