The Hashgraph Group, a Swiss technology company building on the Hedera network, has launched TrackTrace, a platform it says is aimed at helping companies prepare for the European Union’s upcoming product compliance requirements related to digital product passports.
TrackTrace is designed to improve supply chain visibility by tracking goods and capturing product data, including emissions-related information, in a way that can be used for compliance reporting and authenticity checks, the company said in a Tuesday announcement.
The platform builds verifiable audit trails for product-specific data, sustainability credentials, durability and reparability, while integrating agentic artificial intelligence (AI) to automate compliance reporting workflows.
The blockchain-based solution comes in response to the EU’s Ecodesign for Sustainable Product Regulation (ESPR), which came into effect on July 18, 2024. The ESPR creates a framework for product-specific rules, including a Digital Product Passport (DPP) to standardize how key product information is captured and shared across multiple supply chains.
An important early milestone is the EU battery passport requirement under the EU Battery Regulation, which will apply from February 18, 2027 for certain categories, including electric vehicles and industrial batteries above 2 kilowatt hours.
The DPP requirements will apply from July 2027 to textiles, clothing, iron, steel and other priority items.
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The EU’s climate objectives stimulate the demand for data
The EU’s Green Deal aims to transform the bloc into a resource-efficient economy and cut emissions by at least 50% by 2030. The aim is also to achieve net carbon neutrality by 2050 through the European Climate Act.
“The European Green Deal aims to establish the first climate-neutral continent by 2050 and needs infrastructure it can rely on to transform Europe into a modern, efficient and sustainable economy,” wrote Stefan Deiss, co-founder and CEO of The Hashgraph Group.
“With TrackTrace, built on Hedera, we deliver that critical data infrastructure layer that enables companies to comply with DPP regulations, while strengthening the integrity of the global supply chain and advancing the transition to a sustainable, transparent and circular economy.”
Companies targeting EU markets will have to rely on solutions such as TrackTrace to ensure compliance with the ESPR.
The Hashgraph Group said it is working with PwC to implement digital product passports for enterprise customers and that TrackTrace can support traceability throughout a product’s lifecycle. Cointelegraph reached out to The Hashgraph Group for more details about the partnership.
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TrackTrace builds on identity tools
TrackTrace has integrated The Hashgraph Group’s existing decentralized identity solution, IDTrust, to provide verifiable credentials in a decentralized manner.
This enables the link between physical events and digital documents in a tamper-proof environment, where digital business processes and immutable data audit trails are anchored in the Hedera network.
Hedera claims to be the world’s most energy-efficient distributed ledger technology (DLT) governed by a council of leading global organizations such as Dell, Deutsche Telecom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz and Standard Bank, among more than 30 Hedera Council members.
Competing solutions for supply chain traceability include blockchain-based IBM Sterling Transparent Supply, TraceX, Circular for batteries and plastics, and TrusTrace for fashion and textiles traceability.
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