Daniel Lux

Daniel Lux explains how the Internet of Things can support the transition towards a Circular Economy. A move from CAPEX-based business models to OPEX-based business models would support a Circular Economy by enabling the sharing of pro- ducts. The IoT, thus, plays a crucial role in the sharing economy because it allows monitoring of the use and the quality of the shared products, to predict maintenance and to extend their lifetime. Moreover, the IoT postpones the end of products’ useful life, as new functionalities can be added over time, which can even enable adapting products for entirely new purposes.