Hashgraph Group, a Swiss know-how firm constructed on the Hedera community, has launched TrackTrace, a platform aimed toward serving to companies put together for upcoming EU product compliance necessities associated to digital product passports.
TrackTrace is designed to enhance provide chain visibility by monitoring items and recording product knowledge, together with emissions-related info, in a means that can be utilized for compliance reporting and authenticity checks, the corporate stated in an announcement Tuesday.
The platform builds a verifiable audit path of product-specific knowledge, sustainability credentials, sturdiness and repairability, whereas incorporating agent-based synthetic intelligence (AI) to automate compliance reporting workflows.
This blockchain-based answer complies with the EU’s Ecodesign for Sustainable Merchandise Regulation (ESPR), which got here into pressure on July 18, 2024. ESPR creates a framework of product-specific guidelines that may embody a digital product passport (DPP) to standardize how key product info is recorded and shared throughout a number of provide chains.
An early main milestone is the EU battery passport requirement beneath the EU Battery Regulation, which is able to apply from February 18, 2027 for sure classes together with electrical automobile and industrial batteries over 2 kilowatt hours.
DPP necessities may even be prolonged to textiles, attire, metal and different precedence objects from July 2027.
Associated: EU to ban nameless crypto accounts and privateness cash by 2027
EU local weather change targets drive knowledge demand
The EU’s Inexperienced Deal goals to remodel the area right into a extra resource-efficient financial system and cut back emissions by at the very least 50% by 2030. It additionally goals to attain web carbon neutrality by 2050 by way of the European Local weather Act.
“The European Inexperienced Deal goals to ascertain the primary climate-neutral continent by 2050 and requires dependable infrastructure to remodel Europe into a contemporary, environment friendly and sustainable financial system,” wrote Stefan Dys, co-founder and CEO of Hashgraph Group.
“TrackTrace, constructed on Hedera, supplies a crucial belief knowledge infrastructure layer that allows companies to adjust to DPP rules, whereas strengthening the integrity of world provide chains and facilitating the transition to a sustainable, clear and round financial system.”
Corporations concentrating on the EU market should depend on options corresponding to TrackTrace to make sure ESPR compliance.
Hashgraph Group stated it’s working with PwC to introduce a digital product passport for enterprise shoppers and that TrackTrace can help traceability throughout a product’s lifecycle. Cointelegraph has contacted Hashgraph Group for additional particulars on the partnership.
Associated: Bitcoin Treasuries Document Uncommon Promoting Streak as BTC Trades Close to $66,000
TrackTrace is constructed on ID instruments
TrackTrace integrates with Hashgraph Group’s present decentralized id answer, IDTrust, to offer verifiable credentials in a decentralized method.
This allows the hyperlink between bodily occasions and digital data 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 know-how (DLT). The DLT is managed by a board of main international organizations together with Dell, Deutsche Telekom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz, Commonplace Financial institution, and greater than 30 Hedera Board members.
Competing provide chain traceability options embody blockchain-based IBM Sterling Clear Provide, TraceX, Round for batteries and plastics, and TrusTrace for style and textile traceability.
journal: How will cryptocurrency legislation change in 2025 and the way will it change in 2026?
