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The Hashgraph Group, a Swiss technology firm building on the Hedera network, has launched TrackTrace, a platform it says is aimed at helping companies prepare for upcoming European Union product-compliance requirements tied to digital product passports.
TrackTrace is designed to improve supply-chain visibility by tracking goods and recording 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 incorporating agentic artificial intelligence (AI) to automate workflows for compliance reporting.
The blockchain-based solution comes in response to the EU’s Ecodesign for Sustainable Product Regulation (ESPR), which went into effect on July 18, 2024. The ESPR creates a framework for product-specific rules that can include a Digital Product Passport (DPP) to standardize how key product information is recorded and shared across multiple supply chains.
A major early milestone is the EU’s battery passport requirement under the EU Battery Regulation, which is set to apply from Feb. 18, 2027, for certain categories including electric-vehicle and industrial batteries above 2 kilowatt-hours.
DPP requirements will extend to textiles, apparel, iron, steel and other priority items starting July 2027.
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EU climate targets drive data demands
The EU’s Green Deal aims to transform the bloc into a more resource-efficient economy and cut emissions by at least 50% by 2030. It also aims to reach net carbon neutrality by 2050 through the European Climate Act.
“The European Green Deal strives to establish the first climate-neutral continent by 2050 and needs infrastructure it can trust to transform Europe into a modern, efficient, and sustainable economy,” wrote Stefan Deiss, co-founder and CEO at The Hashgraph Group.
“With TrackTrace built on Hedera, we deliver that critical trust data infrastructure layer that enables companies to comply with DPP regulation, while strengthening global supply chain integrity and fostering the transition to a sustainable, transparent, and circular economy.”
Businesses 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 on digital product passport implementations for enterprise clients and that TrackTrace can support traceability across a product’s lifecycle. Cointelegraph contacted The Hashgraph Group for more details on the collaboration.
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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 linkage between physical events and digital records in a tamper-proof environment, where digital business processes and immutable data audit trails are anchored on the Hedera network.
Hedera claims to be the world’s most energy-efficient distributed ledger technology (DLT) that is governed by a council of leading global organisations such as Dell, Deutsche Telecom, EDF, FedEx, Google, Hitachi, IBM, Mondelēz, and Standard Bank, among over 30 Hedera Council members.
Competing supply chain traceability solutions include the blockchain-based IBM Sterling Transparent Supply, TraceX, Circular for batteries and plastics, and TrusTrace for fashion and textile traceability.
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