Hashgraph Group launches EU digital product passport tool based on Hedera

ME News reported on February 24th (UTC+8) that Swiss technology company Hashgraph Group launched TrackTrace, a supply chain tracking platform based on Hedera, for the EU's digital product passport program. This platform aims to help companies address upcoming EU product compliance requirements. By recording data on the flow of goods and emissions, the platform builds a verifiable audit trail for product information and integrates AI to automate the compliance reporting process. This move is a response to the Sustainable Product Ecodesign Regulation (DPR), which will come into effect in July 2024. The DPR establishes a framework for developing product-specific rules that include digital product passports, standardizing the recording and sharing of critical product information across the supply chain. The first significant milestone is the passport requirements for electric vehicles and industrial batteries under the EU Battery Regulation, which will come into effect in February 2027. Other priority categories, such as textiles, clothing, and steel, will be included in the DPR from July 2027. (Source: ME)