Hashgraph Group Launches EU Digital Product Passport Tool on Hedera

Swiss technology firm Hashgraph Group has introduced a new EU digital product passport tool based on Hedera, aimed at assisting businesses in meeting upcoming EU product compliance requirements. According to PANews, the supply chain tracking platform, TrackTrace, records product movement and emissions data to create verifiable product information audit trails. It also integrates AI to automate compliance reporting processes. This initiative responds to the Sustainable Products Ecodesign Regulation, set to take effect in July 2024. The regulation establishes a framework for creating product-specific rules that include digital product passports, standardizing the recording and sharing of key product information across supply chains. A significant milestone will be the implementation of the EU Battery Regulation in February 2027, which mandates passports for electric vehicle and industrial batteries. Other priority categories, such as textiles, clothing, and steel, will be included in the digital product passport scope starting July 2027.