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Evaluating blockchain-based waste management investments in smart cities using a multi-criteria decision support
Sana Shahab1, Vladimir Simic2, Ashit Kumar Dutta3,4
1Department of Business Administration, College of Business Administration, Princess Nourah Bint Abdulrahman University, PO Box 84428, Riyadh, 11671, Saudi Arabia.
Selecting the best blockchain-based waste management (BBWM) system is challenging. This study uses a multi-criteria decision-making approach to identify the Blockchain Enabled Waste Tracking System as the most suitable option for efficient and transparent waste management.
Area of Science:
- Environmental Science and Engineering
- Computer Science and Information Systems
- Operations Research and Management Science
Background:
- Urbanization increases demand for efficient and environmentally sound waste management systems.
- Current waste management methods face challenges in efficiency, transparency, and public engagement.
- Blockchain technology offers decentralization, security, and transparency as potential solutions.
Purpose of the Study:
- To address the difficulty in selecting the optimal blockchain-based waste management (BBWM) system due to conflicting evaluation criteria.
- To propose a robust multi-criteria decision-making (MCDM) framework for evaluating and ranking BBWM alternatives.
- To provide a data-driven decision-making methodology for policymakers, urban planners, and investors in BBWM.
Main Methods:
- Employed a multi-criteria decision-making (MCDM) approach integrating Criteria Importance Assessment (CIMAS) for subjective weights and Logarithmic Percentage Change-Driven Objective Weighing (LOPCOW) for objective weights.
- Utilized the Alternative Ranking Order Method Accounting for Two-Step Normalization (AROMAN) for precise ranking of BBWM alternatives.
- Incorporated T-Spherical Fuzzy Sets (T-SFS) to manage expert judgment variability, considering membership, non-membership, and hesitation degrees.
Main Results:
- The Blockchain Enabled Waste Tracking System was identified as the most appropriate BBWM alternative.
- Key evaluation criteria included Technological Feasibility, Operational Costs, Scalability, Data Security, Regulatory Compliance, and Environmental Impact.
- The selected system demonstrates high potential for enhancing transparency, regulatory compliance, and fraud prevention in waste management.
Conclusions:
- The proposed MCDM framework effectively addresses the complexity of selecting BBWM systems.
- Blockchain technology, particularly the Blockchain Enabled Waste Tracking System, offers significant advantages for modern waste management.
- This research provides a methodological foundation for informed investments and strategic planning in the BBWM sector.
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