The Hashgraph Group launches platform to comply with the EU’s ‘Digital Product Passport’… ahead of next year’s rules
Summary
- The Hashgraph Group said it has launched a Hedera-based supply-chain traceability platform, ‘TrackTrace,’ to prepare for the EU’s Digital Product Passport (DPP) rules.
- It said the solution helps companies record and manage product movement routes and emissions data, enabling reporting systems that comply with the EU’s Ecodesign for Sustainable Products Regulation (ESPR).
- The Hashgraph Group said it is working with PwC to support DPP adoption, and that stronger EU supply-chain transparency requirements could drive broader uptake of blockchain-based traceability solutions.
Swiss technology firm The Hashgraph Group has unveiled a supply-chain traceability platform designed to meet the European Union’s (EU) Digital Product Passport (DPP) requirements.
According to Cointelegraph, a cryptocurrency-focused outlet, The Hashgraph Group on the 24th launched ‘TrackTrace,’ built on the Hedera network. The solution helps companies log and manage information such as product movement routes and emissions, enabling them to establish reporting systems aligned with EU regulations.
The EU previously brought into force the 2024 Ecodesign for Sustainable Products Regulation (ESPR). Under the rule, Digital Product Passports will become mandatory for electric vehicles and industrial batteries from February next year, with the scope set to expand from July the same year to textiles, apparel and steel, among other categories.
The Hashgraph Group is working with PwC to support corporate customers’ adoption of Digital Product Passports. The platform integrates decentralized identity technology and is designed to record product-related data in an immutable format.
As the EU’s climate-neutrality goals and policies to strengthen supply-chain transparency gather pace, adoption of related blockchain-based traceability solutions is also expected to expand.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
