Hashgraph Group launches Hedera-based tool for EU digital product passports
The Hashgraph Group, a Swiss expertise agency constructing on the Hedera community, has launched TrackTrace, a platform it says is aimed toward serving to corporations put together for upcoming European Union product-compliance necessities tied to digital product passports.
TrackTrace is designed to enhance supply-chain visibility by monitoring items and recording product knowledge, together with emissions-related data, in a method that can be utilized for compliance reporting and authenticity checks, the corporate stated in a Tuesday announcement.
The platform builds verifiable audit trails for product-specific knowledge, sustainability credentials, sturdiness and reparability, whereas incorporating agentic synthetic intelligence (AI) to automate workflows for compliance reporting.
The blockchain-based resolution is available in response to the EU’s Ecodesign for Sustainable Product Regulation (ESPR), which went into impact on July 18, 2024. The ESPR creates a framework for product-specific guidelines that may embrace a Digital Product Passport (DPP) to standardize how key product data is recorded and shared throughout a number of provide chains.
A significant early milestone is the EU’s battery passport requirement underneath the EU Battery Regulation, which is about to use from Feb. 18, 2027, for sure classes together with electric-vehicle and industrial batteries above 2 kilowatt-hours.
DPP necessities will prolong to textiles, attire, iron, metal and different precedence objects beginning July 2027.
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EU local weather targets drive knowledge calls for
The EU’s Inexperienced Deal goals to remodel the bloc right into a extra resource-efficient economic system and minimize emissions by at the very least 50% by 2030. It additionally goals to achieve web carbon neutrality by 2050 by the European Local weather Act.
“The European Inexperienced Deal strives to determine the primary climate-neutral continent by 2050 and desires infrastructure it will possibly belief to remodel Europe into a contemporary, environment friendly, and sustainable economic system,” wrote Stefan Deiss, co-founder and CEO at The Hashgraph Group.
“With TrackTrace constructed on Hedera, we ship that essential belief knowledge infrastructure layer that allows corporations to adjust to DPP regulation, whereas strengthening world provide chain integrity and fostering the transition to a sustainable, clear, and round economic system.”
Companies concentrating on EU markets must depend on options resembling TrackTrace to make sure compliance with the ESPR.
The Hashgraph Group stated it’s working with PwC on digital product passport implementations for enterprise shoppers and that TrackTrace can help traceability throughout a product’s lifecycle. Cointelegraph contacted The Hashgraph Group for extra particulars on the collaboration.
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TrackTrace builds on id instruments
TrackTrace has built-in The Hashgraph Group’s current decentralized id resolution, IDTrust, to supply verifiable credentials in a decentralized method.
This allows the linkage between bodily occasions and digital information in a tamper-proof surroundings, the place digital enterprise processes and immutable knowledge audit trails are anchored on the Hedera community.
Hedera claims to be the world’s most energy-efficient distributed ledger expertise (DLT) that’s ruled by a council of main world organisations resembling Dell, Deutsche Telecom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz, and Customary Financial institution, amongst over 30 Hedera Council members.
Competing provide chain traceability options embrace the blockchain-based IBM Sterling Clear Provide, TraceX, Round for batteries and plastics, and TrusTrace for trend and textile traceability.
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