IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i20p15126-d1264600.html
   My bibliography  Save this article

Web 3.0 and Sustainability: Challenges and Research Opportunities

Author

Listed:
  • Shekhar Rathor

    (Department of Management, Marketing, and Information Systems, Sam Houston State University, Huntsville, TX 77340, USA)

  • Mingyu Zhang

    (Department of Computer Science and Technology, Florida Memorial University, Miami Gardens, FL 33054, USA)

  • Taehoon Im

    (Department of Management, Marketing, and Information Systems, Sam Houston State University, Huntsville, TX 77340, USA)

Abstract

Web 3.0 is the next generation of the web and is still in its early stages. Web 3.0 uses many technical components to create an innovative Internet ecosystem. It is characterized by features such as decentralization, interoperability, data ownership, and smart contracts. Web 3.0 aims to enhance user experiences, privacy, and data control while fostering an equitable digital future. Web 3.0 holds significant potential for accelerating progress towards SDGs. As Web 3.0 technologies gain attraction, concerns arise about their potential impact on sustainability, encompassing energy consumption, hardware waste, and carbon footprint. By examining the current state of research about Web 3.0 and sustainability, this opinion paper discusses key Web 3.0 sustainability projects, sustainability challenges, and future directions to build a more sustainable digital era.

Suggested Citation

  • Shekhar Rathor & Mingyu Zhang & Taehoon Im, 2023. "Web 3.0 and Sustainability: Challenges and Research Opportunities," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:20:p:15126-:d:1264600
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/20/15126/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/20/15126/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Voshmgir, Shermin & Wildenberg, Martin & Rammel, Christian & Novakovic, Tatjana, 2019. "Sustainable Development Report: Blockchain, the Web3 & the SDGs," Working Paper Series/Institute for Cryptoeconomics/Interdisciplinary Research 7453, WU Vienna University of Economics and Business.
    2. Laura Mariani & Benedetta Trivellato & Mattia Martini & Elisabetta Marafioti, 2022. "Achieving Sustainable Development Goals Through Collaborative Innovation: Evidence from Four European Initiatives," Journal of Business Ethics, Springer, vol. 180(4), pages 1075-1095, November.
    3. Chalmers, Dominic & Fisch, Christian & Matthews, Russell & Quinn, William & Recker, Jan, 2022. "Beyond the bubble: Will NFTs and digital proof of ownership empower creative industry entrepreneurs?," Journal of Business Venturing Insights, Elsevier, vol. 17(C).
    4. Hani Alshahrani & Noman Islam & Darakhshan Syed & Adel Sulaiman & Mana Saleh Al Reshan & Khairan Rajab & Asadullah Shaikh & Jaweed Shuja-Uddin & Aadar Soomro, 2023. "Sustainability in Blockchain: A Systematic Literature Review on Scalability and Power Consumption Issues," Energies, MDPI, vol. 16(3), pages 1-24, February.
    5. Cheng-Te Tseng & Shari S. C. Shang, 2021. "Exploring the Sustainability of the Intermediary Role in Blockchain," Sustainability, MDPI, vol. 13(4), pages 1-21, February.
    6. Pietro De Giovanni, 2023. "Sustainability of the Metaverse: A Transition to Industry 5.0," Sustainability, MDPI, vol. 15(7), pages 1-29, March.
    7. Voshmgir, Shermin & Wildenberg, Martin & Rammel, Christian & Novakovic, Tatjana, 2019. "Sustainable Development Report: Blockchain, the Web3 & the SDGs," Working Paper Series/Institute for Cryptoeconomics/Interdisciplinary Research 7464, WU Vienna University of Economics and Business.
    8. Mahtab Kouhizadeh & Joseph Sarkis, 2018. "Blockchain Practices, Potentials, and Perspectives in Greening Supply Chains," Sustainability, MDPI, vol. 10(10), pages 1-16, October.
    9. Affan Ahmed Khan & Ming Zheng Wang & Sadaf Ehsan & Mohammad Nurunnabi & Maaida Hussain Hashmi, 2019. "Linking Sustainability-Oriented Marketing to Social Media and Web Atmospheric Cues," Sustainability, MDPI, vol. 11(9), pages 1-28, May.
    10. Arsenii Vilkov & Gang Tian, 2023. "Blockchain’s Scope and Purpose in Carbon Markets: A Systematic Literature Review," Sustainability, MDPI, vol. 15(11), pages 1-27, May.
    11. Salvatore Monaco & Giovanna Sacchi, 2023. "Travelling the Metaverse: Potential Benefits and Main Challenges for Tourism Sectors and Research Applications," Sustainability, MDPI, vol. 15(4), pages 1-10, February.
    12. Reza Aria & Norm Archer & Moein Khanlari & Bharat Shah, 2023. "Influential Factors in the Design and Development of a Sustainable Web3/Metaverse and Its Applications," Future Internet, MDPI, vol. 15(4), pages 1-18, March.
    13. Dal Mas, F. & Massaro, M. & Ndou, V. & Raguseo, E., 2023. "Blockchain technologies for sustainability in the agrifood sector: A literature review of academic research and business perspectives," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    14. Paul P. Momtaz, 2022. "Some Very Simple Economics of Web3 and the Metaverse," FinTech, MDPI, vol. 1(3), pages 1-10, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Friedman, Nicola & Ormiston, Jarrod, 2022. "Blockchain as a sustainability-oriented innovation?: Opportunities for and resistance to Blockchain technology as a driver of sustainability in global food supply chains," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    2. Vidal-Tomás, David, 2023. "The illusion of the metaverse and meta-economy," International Review of Financial Analysis, Elsevier, vol. 86(C).
    3. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2021. "Sustainable Supply Chains with Blockchain, IoT and RFID: A Simulation on Order Management," Sustainability, MDPI, vol. 13(11), pages 1-23, June.
    4. Weking, Jörg & Desouza, Kevin C. & Fielt, Erwin & Kowalkiewicz, Marek, 2023. "Metaverse-enabled entrepreneurship," Journal of Business Venturing Insights, Elsevier, vol. 19(C).
    5. Yi Wang & Yafei Yang & Zhaoxiang Qin & Yefei Yang & Jun Li, 2023. "A Literature Review on the Application of Digital Technology in Achieving Green Supply Chain Management," Sustainability, MDPI, vol. 15(11), pages 1-18, May.
    6. Sachin Kumar Mangla & Yiğit Kazançoğlu & Abdullah Yıldızbaşı & Cihat Öztürk & Ahmet Çalık, 2022. "A conceptual framework for blockchain‐based sustainable supply chain and evaluating implementation barriers: A case of the tea supply chain," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3693-3716, December.
    7. Yunpeng Xiao & Bufan Deng & Siqi Chen & Kyrie Zhixuan Zhou & Ray LC & Luyao Zhang & Xin Tong, 2023. ""Centralized or Decentralized?": Concerns and Value Judgments of Stakeholders in the Non-Fungible Tokens (NFTs) Market," Papers 2311.10990, arXiv.org, revised Nov 2023.
    8. Yuling Sun & Xiaomei Song & Yihao Jiang & Jian Guo, 2023. "Strategy Analysis of Fresh Agricultural Enterprises in a Competitive Circumstance: The Impact of Blockchain and Consumer Traceability Preferences," Mathematics, MDPI, vol. 11(5), pages 1-18, February.
    9. Mohammad (Behdad) Jamshidi & Arash Dehghaniyan Serej & Alireza Jamshidi & Omid Moztarzadeh, 2023. "The Meta-Metaverse: Ideation and Future Directions," Future Internet, MDPI, vol. 15(8), pages 1-31, July.
    10. Seyyed-Alireza Radmanesh & Alireza Haji & Omid Fatahi Valilai, 2023. "Blockchain-Based Architecture for a Sustainable Supply Chain in Cloud Architecture," Sustainability, MDPI, vol. 15(11), pages 1-19, June.
    11. Kirti Nayal & Rakesh D. Raut & Balkrishna E. Narkhede & Pragati Priyadarshinee & Gajanan B. Panchal & Vidyadhar V. Gedam, 2023. "Antecedents for blockchain technology-enabled sustainable agriculture supply chain," Annals of Operations Research, Springer, vol. 327(1), pages 293-337, August.
    12. Köhler, Susanne & Bager, Simon & Pizzol, Massimo, 2022. "Sustainability standards and blockchain in agro-food supply chains: Synergies and conflicts," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    13. Joon-Seok Kim & Nina Shin, 2019. "The Impact of Blockchain Technology Application on Supply Chain Partnership and Performance," Sustainability, MDPI, vol. 11(21), pages 1-17, November.
    14. Syed Abdul Rehman Khan & Arsalan Zahid Piprani & Zhang Yu, 2022. "Digital technology and circular economy practices: future of supply chains," Operations Management Research, Springer, vol. 15(3), pages 676-688, December.
    15. Ahl, A. & Yarime, M. & Goto, M. & Chopra, Shauhrat S. & Kumar, Nallapaneni Manoj. & Tanaka, K. & Sagawa, D., 2020. "Exploring blockchain for the energy transition: Opportunities and challenges based on a case study in Japan," Renewable and Sustainable Energy Reviews, Elsevier, vol. 117(C).
    16. Myriam Caratù & Valerio Brescia & Ilaria Pigliautile & Paolo Biancone, 2023. "Assessing Energy Communities’ Awareness on Social Media with a Content and Sentiment Analysis," Sustainability, MDPI, vol. 15(8), pages 1-28, April.
    17. Amjad Almusaed & Ibrahim Yitmen & Asaad Almssad, 2023. "Reviewing and Integrating AEC Practices into Industry 6.0: Strategies for Smart and Sustainable Future-Built Environments," Sustainability, MDPI, vol. 15(18), pages 1-27, September.
    18. Nansy Kouroupi & Theodore Metaxas, 2023. "Can the Metaverse and Its Associated Digital Tools and Technologies Provide an Opportunity for Destinations to Address the Vulnerability of Overtourism?," Tourism and Hospitality, MDPI, vol. 4(2), pages 1-19, June.
    19. Chunguang April Bai & James Cordeiro & Joseph Sarkis, 2020. "Blockchain technology: Business, strategy, the environment, and sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 29(1), pages 321-322, January.
    20. Weichu Deng & Teng Huang & Haiyang Wang, 2022. "A Review of the Key Technology in a Blockchain Building Decentralized Trust Platform," Mathematics, MDPI, vol. 11(1), pages 1-29, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:20:p:15126-:d:1264600. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.