Hashgraph Group launches Hedera-based tool for EU digital product passports

The Hashgraph Group, a Swiss exertion steadfast gathering connected the Hedera network, has launched TrackTrace, a level it says is aimed astatine helping companies hole for upcoming European Union product-compliance requirements tied to integer merchandise passports.

TrackTrace is designed to amended supply-chain visibility by tracking goods and signaling merchandise data, including emissions-related information, successful a mode that tin beryllium utilized for compliance reporting and authenticity checks, the institution said successful a Tuesday announcement.

The level builds verifiable audit trails for product-specific data, sustainability credentials, durability and reparability, portion incorporating agentic artificial quality (AI) to automate workflows for compliance reporting.

The blockchain-based solution comes successful effect to the EU’s Ecodesign for Sustainable Product Regulation (ESPR), which went into effect connected July 18, 2024. The ESPR creates a model for product-specific rules that tin see a Digital Product Passport (DPP) to standardize however cardinal merchandise accusation is recorded and shared crossed aggregate proviso chains.

A large aboriginal milestone is the EU’s artillery passport request nether the EU Battery Regulation, which is acceptable to use from Feb. 18, 2027, for definite categories including electric-vehicle and concern batteries supra 2 kilowatt-hours.

DPP requirements volition widen to textiles, apparel, iron, alloy and different precedence items starting July 2027.

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EU clime targets thrust information demands

The EU’s Green Deal aims to alteration the bloc into a much resource-efficient system and chopped emissions by astatine slightest 50% by 2030. It besides aims to scope nett c neutrality by 2050 done the European Climate Act.

“The European Green Deal strives to found the archetypal climate-neutral continent by 2050 and needs infrastructure it tin spot to alteration Europe into a modern, efficient, and sustainable economy,” wrote Stefan Deiss, co-founder and CEO astatine The Hashgraph Group.

“With TrackTrace built connected Hedera, we present that captious spot information infrastructure furniture that enables companies to comply with DPP regulation, portion strengthening planetary proviso concatenation integrity and fostering the modulation to a sustainable, transparent, and circular economy.”

Businesses targeting EU markets volition person to trust connected solutions specified arsenic TrackTrace to guarantee compliance with the ESPR.

The Hashgraph Group said it is moving with PwC connected integer merchandise passport implementations for endeavor clients and that TrackTrace tin enactment traceability crossed a product’s lifecycle. Cointelegraph contacted The Hashgraph Group for much details connected the collaboration.

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TrackTrace builds connected individuality tools

TrackTrace has integrated The Hashgraph Group’s existing decentralized individuality solution, IDTrust, to supply verifiable credentials successful a decentralized manner.

This enables the linkage betwixt carnal events and integer records successful a tamper-proof environment, wherever integer concern processes and immutable information audit trails are anchored connected the Hedera network.

Hedera claims to beryllium the world’s astir energy-efficient distributed ledger exertion (DLT) that is governed by a assembly of starring planetary organisations specified arsenic Dell, Deutsche Telecom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz, and Standard Bank, among implicit 30 Hedera Council members.

Competing proviso concatenation traceability solutions see the blockchain-based IBM Sterling Transparent Supply, TraceX, Circular for batteries and plastics, and TrusTrace for manner and textile traceability.

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