The Hashgraph Group, a Swiss expertise agency constructing on the Hedera community, has launched TrackTrace, a platform it says is geared 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 manner 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 answer 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 embody 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 below 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 financial system and lower emissions by at the very least 50% by 2030. It additionally aims to succeed in internet carbon neutrality by 2050 by way of the European Local weather Act.
“The European Inexperienced Deal strives to ascertain the primary climate-neutral continent by 2050 and desires infrastructure it might probably belief to remodel Europe into a contemporary, environment friendly, and sustainable financial system,” wrote Stefan Deiss, co-founder and CEO at The Hashgraph Group.
“With TrackTrace constructed on Hedera, we ship that vital belief knowledge infrastructure layer that permits corporations to adjust to DPP regulation, whereas strengthening international provide chain integrity and fostering the transition to a sustainable, clear, and round financial system.”
Companies concentrating on EU markets should 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 present decentralized id answer, IDTrust, to offer verifiable credentials in a decentralized method.
This allows the linkage between bodily occasions and digital information in a tamper-proof setting, 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 international organizations resembling Dell, Deutsche Telecom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz, and Commonplace Financial institution, amongst over 30 Hedera Council members.
Competing provide chain traceability options embody the blockchain-based IBM Sterling Clear Provide, TraceX, Round for batteries and plastics, and TrusTrace for trend and textile traceability.
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