Role of blockchain toward supply chain finance in circular economy: a review and future agenda

Abstract

Purpose The purpose of this study is to establish connections between blockchain (BC) technologies, supply chain finance (SCF) and the circular economy (CE) to enhance sustainable operations. Design/methodology/approach A systematic literature review was conducted, identifying 50 primary studies from reputed journals. The study synthesizes existing literature to explore the interplay between BC technologies, SCF and CE, leading to the development of three propositions and a comprehensive framework. Findings The findings highlight gaps in the existing literature at the intersection of BC and SCF, aligning with the “Regenerate, Share, Optimize, Loop, Virtualize, and Exchange” (ReSOLVE) framework to promote CE practices. Additionally, the study clarifies the literature based on SCF development approaches and underlying theories. Research limitations/implications This study lays the groundwork for future research to empirically validate the proposed framework and assess its applicability in various industrial contexts. However, the findings are limited to the studies included in the systematic review. Practical implications The proposed Blockchain-Supply Chain Finance-Circular Economy (BSFCE) framework offers practical insights for integrating BC and SCF to promote CE practices, supporting sustainable supply chain operations. Developed framework can be referred to develop sustainability by facilitating the adoption of CE practices through innovative financial and technological solutions. Originality/value This study introduces a distinctive BSFCE framework, which integrates BC and SCF within the context of CE. It is the first research to systematically analyze studies on this novel topic, leveraging the resource-based view and network theory to explore BC implementation in SCF and CE.