NFT-Based Product Cycle Management for Carbon Footprint Tracking
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Solution Overview
Problem
Current product management systems lack an efficient method to track and verify the carbon footprint reduction of products throughout their lifecycle, which hinders the calculation of carbon credits and the implementation of effective carbon reduction strategies.
Innovation Solution
An NFT-based product cycle management system integrated with a blockchain, which includes wallet management and application service devices to mint, transfer, and record NFTs representing product parts, enabling detailed tracking of part transactions and greenhouse gas emissions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If traditional product management systems are used, then system simplicity is maintained, but carbon footprint tracking accuracy and reliability are insufficient
Solution Approach 1:
The patent uses NFTs as digital copies representing physical product parts. Each NFT contains metadata about the part's carbon footprint, enabling accurate tracking without physically measuring or monitoring each component. The blockchain records create immutable copies of transaction data, ensuring measurement precision while simplifying the physical tracking infrastructure.
Solution Approach 2:
The blockchain serves as an intermediary layer between physical product parts and digital record-keeping. It mediates the tracking process by providing a decentralized, immutable ledger that records NFT transactions, eliminating the need for complex centralized databases and verification systems while ensuring data reliability.
2Reliability
If detailed tracking of carbon footprints is implemented, then verification accuracy is improved, but data management complexity increases
Solution Approach 1:
The NFT system enables self-service verification through its immutable blockchain ledger. Each NFT automatically records its own transaction history, carbon footprint data, and ownership transfers without requiring manual verification or complex data management systems. The blockchain's inherent properties ensure data integrity and reliability.
Solution Approach 2:
The system changes the state of data from dynamic and mutable to static and immutable through blockchain technology. Once recorded, carbon footprint data and transaction information cannot be altered, ensuring verification reliability. The NFT metadata structure standardizes data parameters, simplifying management while maintaining detailed tracking capabilities.
3Productivity
If NFT-based tracking is implemented, then recycling management efficiency is enhanced, but initial system setup complexity increases
Solution Approach 1:
The system performs preliminary actions by minting NFTs for product parts before they enter the recycling process. This pre-preparation of digital identifiers and carbon footprint data enables efficient tracking and management throughout the product lifecycle, including recycling operations, without requiring complex real-time processing systems.
Solution Approach 2:
The patent segments the product into individual parts, each with its own NFT. This segmentation enables independent tracking of each component's carbon footprint and recycling status, improving management efficiency. The modular NFT structure simplifies system setup compared to tracking entire products as single units.
4Measurement precision
If comprehensive part tracking is implemented, then carbon credit calculation accuracy is improved, but operational complexity increases
Solution Approach 1:
The blockchain provides automatic feedback by continuously recording NFT transactions and updating carbon footprint data. This real-time feedback mechanism ensures accurate carbon credit calculations without requiring manual intervention or complex operational procedures. The system automatically verifies and reports carbon reduction metrics.
Data Source
AI summary
An NFT-based product cycle management system, an NFT-based product cycle management method, and a computer program product are provided. The product cycle management system is coupled to a blockchain and includes a wallet management device and an application service device coupled to the wallet management device. The application service device is configured to mint part NFTs at the blockchain. The application service device is also configured to, in accordance with part types and corresponding part quantities of parts included in each product, transfer corresponding part NFTs to a corresponding product wallet. The application service device is also configured to, during a return merchandise authorization operation for one of returned products among one or more products, transfer the part NFTs in a product wallet corresponding to the returned product to at least one selected from the group consisting of a inventory wallet, a scrap wallet, and a repair wallet.