Document Type

Conference Paper

Publication Date

2019

Publication Title

IIE Annual Conference. Proceedings

Pages

1707-1712

Conference Name

2019 IISE Annual Conference, May 18-21, 2019, Orlando, Florida

Abstract

Natural resources are essential structures of socio-economic systems which shape the well-being of humanity, environment, and the economy. Human actions have become the critical responsibility for environmental changes and pressuring many planetary boundaries. Having a systematic approach can provide a governance platform including the inherent characteristics of the resource, the historically established form of use, and transaction costs. A natural resource governance framework is developed by applying Blockchain technology as the primary goal of this study to regulate and manage the extraction and trades. Blockchain technology provides a distributed concurrency monitoring system for sustainable resource management. Persistent and pervasive cooperation of all the stakeholders improves the sustainable management of the resource and the perception of the legitimacy of the results. This methodology tries to bridge knowledge boundaries and embedded terminologies amongst all parties to deal with uncertainties surrounding the decision-making process of managing the natural resources. Moreover, it can be instrumental in establishing trusted relations and interactions to reduce environmental risks and ecological scarcities. This study aims to provide an integrated system consisting of rules and policies to decrease the high organizing costs and defects of centralism by enhanced control of all the involved parties, accountability, and transparency.

Rights

© 2019 Institute of Industrial and Systems Engineers (IISE). All rights reserved.

Included with the kind written permission of the copyright holder.

ORCID

0000-0003-2830-675X (Gheorghe)

Original Publication Citation

Pour, F. S. A., & Gheorghe, A. (2019) Natural resources governance employing blockchain-based decision-making. In IIE Annual Conference. Proceedings (1707-1712). Institute of Industrial and Systems Engineers.

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