Ox-Chain: Towards secure and trustworthy circular economies through distributed ledger technologies

The Ox-Chain project responds to specific challenges identified by global consultants McKinsey & Company for the UK based charity Oxfam that highlights how much value is lost within the existing business model, which currently sends between 70-80% of its received second hand clothes to a recycling centre. The research team propose that by using distributed ledger technology, such as the Blockchain that supports the Bitcoin digital currency, a different business model can be developed that involves the donors, the shoppers and the staff at Oxfam in identifying the value of second hand items and helping them to move to places where they will can be sold.