The JBBA | Volume 4 | Issue 1 | 2021 Published Open Access under the CC-BY 4.0 Licence 1 PEER Reviewed RESEARCH OPEN ACCESS ISSN Online: 2516-3957 ISSN Print: 2516-3949 https://doi.org/10.31585/jbba-4-1-(4)2021 Industrial Symbiosis Networks in Greece: Utilising the Power of Blockchain-based B2B Marketplaces Stavros T. Ponis School of Mechanical Engineering, National Technical University of Athens, Greece Correspondence: staponis@central.ntua.gr Received: 21 September 2020 Accepted: 20 November 2020 Published: 5 December 2020 Abstract The proliferation of industrialisation and its environmental consequences over the last decades dictates the need for transitioning to a ‘Circular Economy’ (CE) business model with a view to balancing manufacturers’ economic prosperity and environmental sustainability. Business models based on ‘Industrial Symbiosis Networks’ (ISNs), within which traditionally independent industries continually exchange energy, materials and by-products, with no or minimum waste produced, have the potential to proceed in this direction. However, due to various cultural, organisational and managerial barriers, their state of development in Greece, similar to rest of the world, is very low. That is exactly where this article sets its objectives, aiming to alleviate these barriers and contribute in establishing cross-sectoral synergies by introducing an innovative business model, supported by an exchange platform in the form of a blockchain-based B2B digital marketplace. The proposed business model will detail a plan for creating symbiotic relationships among manufacturing companies in Greece and will be supported by a blockchain-based marketplace, which will enable material, by-product and energy exchanges in a reliable and secure way. Blockchain will act both as an exchange platform and a trust mechanism, since its decentralised nature, which is manifested in all its capabilities i.e. smart contracts or tokenisation will increase the business model’s reliability and facilitate its adoption and market penetration. The successful implementation of the proposed business model will bring about a multifaceted positive impact ranging from its contribution to exceeding the current state-of-the-art in the intersection of environmental science and information technology, to benefiting society and economy through fostering sustainable regional development. Keywords: Blockchain, B2B Marketplaces, Circular Business Model, Industrial Ecology, Industrial Symbiosis Networks, Industry 4.0 JEL Classifications: Q57 1. Introduction The proliferation of industrialisation over the last decades has undoubtedly led to environmental degradation, while casting a long shadow over manufacturing companies, failing to efficiently conform to waste prevention policies and capture the financial and social benefits of a more circular and sustainable manufacturing practice [1], [2]. At the same time, the ever- increasing population dictates the continuous evolution of businesses’ manufacturing processes, in order for them to accommodate growing customer needs and ultimately flourish in today’s constantly shifting competitive landscape [3]. Unfortunately, these business achievements come, all too often, to the detriment of the environment, rendering industrial activity responsible for a plethora of adverse effects, including waste generation, harmful Greenhouse Gas (GHG) emissions and depletion of natural resources [4]. As a matter of fact, in Greece, waste resulting from such activities is predicted to amount to 18.074 tons in 2020, while GHG emissions exceeded 7 megatons (Mt) in 2017 [5]. To add insult to injury, Greece’s voracious consumption levels are so unsustainable that it would need to grow four times its current acreage to meet consumers’ future needs, which indisputably aggravates resource depletion, land use and global warming. It is beyond the shadow of doubt that industrial systems cannot be sustained for long, when natural materials become scarce and waste to nature exceeds its carrying capacity, i.e. the ability with which nature can decompose waste within a given time and space. Under these circumstances, the need to ensure manufacturers’ environmental compliance without compromising their resource supply and undisrupted production, and hence their economic benefits, is of paramount importance. In view of the intrinsic mechanics of the conventional linear economy, which rely on a wasteful ‘take, make and dispose’ flow [6], the need for transition to a sustainable Circular Economy (CE) business and