Tokenizing circularity in agri-food systems: A conceptual framework and exploratory study

This paper presents a conceptual framework that reflects the current state of thinking on tokenizing circularity in agri-food systems. The framework is built upon classifications of tokens and the key principles of circular economy and shows how tokenization can support circularity in agri-food systems through the flows of information and flows of value. Based on an integrative review of literature on tokenization, blockchain and the circular economy and multiple case studies in the agri-food domain, we show the relevance of tokenization to the circular economy in three ways: 1) enhancing traceability of physical and digital objects in supply chains; 2) improving transparency and credibility of circularity claims; 3) facilitating collaborative business ecosystems with incentives for more circular production and distribution. Based on the framework, we derive important research questions for future research agenda on tokenizing circularity in agri-food systems.