The linear economic model is reaching its physical limits. In this linear model, goods are manufactured from raw materials, used by the consumers and the materials are finally discarded as waste after its useful life. Any system based on consumption rather than on the restorative use of resources entails significant losses along the value chain. Furthermore, the rapid acceleration of consumptive and extractive economies since the start of the twentieth century has resulted in an exponential growth of negative externalities. Hence, there needs an economic system which is restorative and regenerative by design, and one that aims to keep products, components, and materials at their highest utility and value at all times. Such a model is referred to as a circular economy. It preserves and enhances natural capital, optimises resource yields, and minimises system risks by managing finite stocks and renewable flows. It is conceived as a continuous positive development cycle that preserves and enhances natural capital, optimises resource yields, and minimises system risks by managing finite stocks and renewable flows. This economic model seeks to ultimately decouple global economic development from finite resource consumption. In this blog, we discuss the role of Goospares in circular economy.
Goospares aims to bridge the supply-demand gap in idle assets. This ensures that the assets which are idle in one place find its relevant application in some other place. A lot of effort have would been put into place to manufacture an asset. Moreover, a number of resources would also be involved in creating an asset. These idle assets need to find its relevant application rather than being discarded as obsolete items. Goospares ensures the same. Thus, the product life cycle is extended by optimising the use of idle items. By being a platform to trade in slow and non-moving assets, Goospares ensures that resource utilization is optimized. This prevents product wastage and thus significantly contributes to a circular economy.